Read more on this subject: Economic Stimulus
News Story Source: Zero Hedge – Tyler Durden
State and local governments are set to receive $350 billion in funding as part of the next stimulus bill, according to draft stimulus legislation released Tuesday night by House Democrats.
The funding – which took a backseat during the Trump administration amid GOP criticism that it was nothing more than a bailout for poorly run Democratic strongholds – is slated for committee action on Friday in the House Oversight and Reform Committee after Chair Carolyn Maloney (D-NY) introduced it. The bill would bypass the traditional appropriations process which is not eligible for budget reconciliation, according to Bloomberg.
States would receive $195 billion and that money would partly be distributed based on a the share of unemployed workers. The District of Columbia would get the same share as states, unlike in last year's relief bill. Local governments would receive $130 billion, partly based on population, with a carve-out for smaller communities. Te
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