Department of the Treasury

The American Rescue Plan (ARP) represents a historic commitment to support those most impacted by COVID-19. While the legislation itself embodied this commitment in numerous ways, the key to the success of the ARP’s programs lies in their implementation. The Department of the Treasury’s Office of Recovery Programs has worked closely with the White House and across federal agencies to execute a coordinated strategy to support people in underserved communities across the country.

Secretary of the Treasury Janet Yellen delivered remarks on digital assets policy, innovation, and regulation at American University's (DC) Kogod School of Business Center for Innovation. "A few weeks ago, President Biden signed an Executive Order calling for a coordinated and comprehensive government approach to digital asset policy," Yellen said. "Digital assets have grown explosively, reaching a market cap of $3 trillion last November from $14 billion just five years prior.

On February, 28, 2022, the Department of Treasury released the updated Compliance and Reporting Guidance for the Coronavirus State and Local Fiscal Recovery Funds (SLFRF) program.

The US Department of the Treasury started disbursing State and Local Fiscal Recovery Funds to state, local, territorial, and Tribal government recipients on May 10, 2021. A subset of these recipients were required to submit initial reports on August 31, 2021. Treasury is processing these reports and will make them publicly available soon. In the meantime, highlights from the Recovery Plan Performance Reports submitted by recipients include both immediate and long-term plans across eligible use categories.