Markets Wired

Today, Deputy Secretary Wally Adeyemo met virtually with more than 500 local government officials to discuss the Treasury Department’s upcoming distribution of the American Rescue Plan’s (ARP) $350 billion State and Local Fiscal Recovery Fund.  The meeting was hosted by the California League of Cities, the California municipal chapter of the National League of Cities.
 
Deputy Secretary Adeyemo spoke about the importance of bringing economic relief to states, cities, and localities, and distributing relief from the State and Local Fiscal Recovery Fund equitably and in a way that allows local leaders to meet the unique challenges of their communities. Deputy Secretary Adeyemo asked for feedback on how the Treasury Department can support local governments as they perform critical work helping their communities recover from the COVID-19 pandemic. The Deputy Secretary also introduced newly appointed Chief Recovery Officer Jacob Leibenluft, who will oversee all of the Treasury Department’s recovery programs, including the State and Local Fiscal Recovery Fund.  

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