On March 27, 2020, the president signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the third phase of legislation designed to lessen the economic impact of the COVID-19 pandemic. One key part of the CARES Act is the Coronavirus Relief Fund, which provides $150 billion in direct federal fiscal support to governments in states, territories, and tribal areas to cover expenditures incurred due to the COVID-19 public health emergency. The bulk of Coronavirus Relief Fund assistance is allocated to state governments, but local governments with populations of 500,000 or more are also eligible to receive federal assistance; any direct assistance to local governments reduces the allocation made to that locality’s state government.
The $150 billion included in the Coronavirus Relief Fund is allocated to domestic governments in the following amounts:
As of May 5, 2020, the Treasury has disbursed 93 percent, or $140 billion, of the total $150 billion allocated in the Coronavirus Relief Fund.
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