Money Begins to Flow

Created on Thu, 26 Feb 2009 16:43

In a meeting with Cabinet members to discuss implementation of the recovery plan, Vice President Joe Biden reported:

“We've already announced that the first tranche of recovery money is being given to the states. Just 10 days after the bill was signed, $15 billion to help health care for children and seniors and the needy is already on the way.

“And today, [Feb. 25] the Department of Housing and Urban Development is taking the first step to awarding $10 billion to state and local governments to fund and create jobs through projects making public housing more energy efficient, making improvements in affordable housing; and also, making sure that we actually begin to fund the lead-based paint removal program – all of which are going to not only increase the public health but – and energy efficiency – but they're going to create jobs. And next week, we'll have more announcements about the next step in getting our investments out the door and putting them to work creating jobs and beginning to grow this economy.”

Meanwhile, Office of Management and Budget Director Peter Orszag advised that

“over the next couple weeks, you will also [see] money becoming available in food stamps, unemployment insurance, low-income housing tax credits, law enforcement grants, transportation funding and a variety of other areas.”

Be sure to stick with Economic Recovery Grants Center for the latest information on the stimulus funding as the money begins to be distributed.