Treasury received over 1,500 comments, participated in hundreds of meetings, and received correspondence from a wide range of governments and other stakeholders. WebCongress passed and President Biden signed into law on March 11 the American Rescue Plan Act, (ARP) a $1.9 trillion coronavirus relief package that includes nearly $50 billion Funds may also be used to cover staff costs, training, and hazard pay. These funds are not to be used for permanent supportive housing, but may be used to help individuals isolate and self-quarantine or relocate to hotels. Send him an email at damonscott@semtribe.com. The bill provides over $27 billion for rental assistance. A few core improvements included in Final Rule are: The American Rescue Plan Act of 2021 (the "Act") allocates $20 billion to Tribal governments, directing that (i) $1 billion is to be allocated equally among eligible Tribal governments and (ii) $19 billion is to be allocated to Tribal governments in a manner determined by the Secretary of the Treasury. After many long days of negotiations, congressional leaders reached a bipartisan agreement on a $6 trillion package, including $2 trillion in direct spending, to respond to the coronavirus pandemic the third package to address the crisis. The U.S. House of Representatives passed the Limit, Save, and Grow Act (H.R.2811) on April 26 by a party-line vote of 217-215. TITLE I--COMMITTEE ON AGRICULTURE, NUTRITION, AND FORESTRY. WebBrowse real estate in 75446, TX. Up to 2% may be used to increase technical assistance. A2. Subtitle A--Agriculture President Trumps National Emergency Declaration under the Stafford Act permits both Federal Assistance and Public Assistance grants for emergency protective measures. The National Indian Health Board is thrilled that Tribal Nations will receive support for vaccinations, relief from terrible loses in their health systems, and that after a year of educating lawmakers about how funding works most effectively and efficiently for Tribal Nations, that knowledge is reflected in this law, NIHB CEO Stacy A. Bohlen said in a statement. In May 2021, Treasury published theInterim Final Rule (IFR)to govern eligible and ineligible uses of funds (as well as other program provisions), sought feedback from the public on these program rules, and began to distribute funds. Nonetheless, a taxpayer who reasonably and in good faith relies on these FAQs will not be subject to a penalty that provides a reasonable cause standard for relief, including a negligence penalty or other accuracy-related penalty, to the extent that reliance results in an underpayment of tax. Through the Coronavirus Relief Fund, the CARES Act provides for payments to State, Local, and Tribal governments navigating the impact of the COVID-19 outbreak. This will help many low-income renters be able to continue to pay their rent each month of this crisis, although additional assistance is needed to help those who struggled to make ends meet before the pandemic and those who have seen their work hours reduced. As governments deployed this funding, Treasury carefully considered the feedback provided through its Tribal Consultation on the Interim Final Rule held on August 2, 2021, with 443 attendees, and through the public comment process on the Interim Final Rule and in other forums. If Congress fails to act, state and local governments face potentially disastrous budget shortfalls, and the Congressional Budget Office estimates the unemployment rate will likely be more than 11 percent at the end of the year. The Final Rule takes effect on April 1, 2022, though Tribal governments can choose to take advantage of its flexibilities and simplifications now, ahead of the effective date. Coronavirus State and Local Fiscal Recovery Funds for Tribal Governments, Budget, Financial Reporting, Planning and Performance, Financial Markets, Financial Institutions, and Fiscal Service, Treasury Coupon-Issue and Corporate Bond Yield Curve, Treasury International Capital (TIC) System, Kline-Miller Multiemployer Pension Reform Act of 2014, Media Advisory: Sanctions-Related Travel by Senior Treasury Department Officials, Treasury, IRS Release Plan to Deliver Improved Service for Americans, Reduce Deficit by Hundreds of Billions, Remarks by Secretary of the Treasury Janet L. Yellen at the National Association for Business Economics 39th Annual Economic Policy Conference, US Treasury and Monetary Authority of Singapore Conduct Joint Exercise to Strengthen Cross-Border Cyber Incident Coordination and Crisis Management, Secretary of the Treasury Janet L. Yellen Sends Letter to Congressional Leadership on the Debt Limit, Economy Statement by Eric Van Nostrand, Acting Assistant Secretary for Economic Policy, for the Treasury Borrowing Advisory Committee May 1, 2023, Remarks by Assistant Secretary for Terrorist Financing and Financial Crimes Elizabeth Rosenberg at Media Engagement in Astana, Kazakhstan, Remarks by Secretary of the Treasury Janet L. Yellen at the Sacramento Metropolitan Chamber of Commerces 51st Annual Capitol-to-Capitol Program As, Remarks by Under Secretary Brian Nelson at American Chamber of Commerce Austria Roundtable, Form 941, employer's quarterly federal tax return, Assistance for State, Local, and Tribal Governments, Assistance for American Families and Workers, Recipient Compliance and Reporting Responsibilities, Local Assistance and Tribal Consistency Fund, Statement Regarding Compliance with the Coronavirus State and Local Fiscal Recovery Funds Interim Final Rule and Final Rule, The Tribal Project & Expenditure Report Compliance webinar, July 2022 Project and Expenditure Report User Guide, Guidance to Tribes for Completing Supplemental Request for Information (Employment Information), "Dear Tribal Leader" Letter sent to Tribal Leaders on July19, 2021, "Dear Tribal Leader" Letter sent to Tribal Leaders on June 30, 2021, "Dear Tribal Leader" Letter sent to Tribal Leaders on June 10, 2021, "Dear Tribal Leader" Letter sent to Tribal Leaders on May 24, 2021, Dear Tribal Leader" Letter sent to Tribal Leaders on May 10, 2021, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service, Fight the pandemic and support households and businesses in Indian Country struggling with its economic impacts, Maintain vital public services, even amid declines in revenue for Tribal governments resulting from the crisis, Build a strong, resilient, and equitable recovery by making investments that support long-term growth and opportunity, Broader set of uses that are available to respond to the pandemics public health and economic impacts on households, small businesses, and others, including capital expenditures, Major simplification for thousands of recipients through the $10 million revenue loss standard allowance, Greater flexibility in eligible broadband investments to address challenges with access, affordability, and reliability, as well as the addition of numerous eligible water and sewer infrastructure investments, More streamlined options to provide premium pay through broadening the share of eligible workers who can receive premium pay without additional justification, If you have questions about the Treasury Submission Portal, experience connectivity, internet, or other access issues, or for technical support, please email, If you have general questions about the Coronavirus State and Local Fiscal Recovery Funds, please email, If you have questions about Tribal Affairs at Treasury, please email. Thus, these payments are not subject to information reporting under Code section 6041 and are not required to be reported on a Form 1099-MISC, Miscellaneous Information. A9. Each Tribal government is required to meet compliance and reporting responsibilities, as further described in the Compliance and Reporting Guidance. This is the one from the 116 th Congress. Senator Chuck Schumer of New York, the Democratic majority leader, said during a speech on the Senate floor that the legislation takes us a giant step closer to fulfilling our trust responsibilities to all Native Americans, Alaska Natives and Native Hawaiians.. stimulus This broad authority could allow jurisdictions to use CDBG funds to provide emergency rental assistance or address the needs of people experiencing homelessness, for example. Of this amount, $850 million can be used for a combination of administrative costs and other expenses for activities including those to support and maintain the health and safety of assisted households and to retain and support participating landlords. The bill provides $4 billion in Emergency Solutions Grants to help prevent an outbreak among sheltered and unsheltered people experiencing homelessness and very low-income households (earning less than 50% of Area Median Income) who are at risk of homelessness. The remaining amount will be distributed within 90 days to communities with the greatest needs, based on criteria determined by the HUD Secretary, such as risk of transmission, rates, and numbers of unsheltered and sheltered homeless populations, and economic and housing market conditions. No. An Explainer I am an economics professor focusing on retirement security and jobs. This article is more than 2 years old. Included in the $1.9 trillion stimulus bill signed by President Biden on Thursday is an $86 billion aid package for participants of about 185 to 300+ employer-union pension plans.
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