U.S. Senator Martha McSally (R-AZ) shared the following information regarding a new web tool launched Friday by the Treasury Department to allow state, local, and tribal governments receive funding to help offset the costs of their coronavirus response as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Once registered through this portal, states and territories will receive promptly half of the funds allocated to them pursuant to the CARES Act. This will fast-track the availability of $71 billion to meet immediate cash flow needs. The remaining balance of the payment amounts due to States, eligible local governments, and tribal governments will be paid no later than April 24, 2020.
Additional details regarding this program can be found at Treasury.gov/CARES. Eligible governments should expect the funds to arrive in the account they designate in as little as 24 hours after providing the required information in the web portal.