Indiana To Get $2.6 Billion In Aid Because Of Coronavirus

States will start receiving aid here soon because of the shutdown their economies are facing. Indiana being one of those recipients will get around $2.61 Billion. I have not found anything tying criminal charges to any local and state government officials who abuse these funds. They will be abused, but the bigger macro picture, the aid will start flowing soon to the states.

The economic relief bill that federal lawmakers have reportedly reached an agreement on includes $150 billion designated for state efforts to combat the COVID-19 pandemic. The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides for this state aid under the auspices of a new Coronavirus Relief Fund. The current language, however, may exclude COVID-19 responses for which states have already budgeted. This is in addition to roughly $274 billion in funding for specific elements of state and local governments’ responses to the pandemic and economic crisis, and supplemental funding for joint state-federal programs like unemployment compensation and Medicaid.

The $150 billion in the Coronavirus Relief Fund is mostly allocated by population, but with $3 billion reserved for U.S. territories and the District of Columbia and $8 billion set aside for tribal governments, along with a guarantee that each state receives at least $1.25 billion even if its population share would otherwise indicate a lesser amount.

Local governments with populations of 500,000 or more are also eligible for aid, and any aid they receive is subtracted from the amount otherwise available to their state’s government. This too is apportioned by population, but localities may only receive 45 percent of the amount associated with their population.

Read the whole write up and state listings here via Tax Foundation

 

Published by Hoosier Econ

Located out of Central Indiana. Blogger of economics, politics and societal trends.

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