tomder55
Jan 6, 2024, 08:24 AM
The American Rescue Plan was passed in 2021 by the Dem Congress and signed by Clueless Joe .It was a sh*t load of monopoly bucks purportedly to get the country on it's feet post-covid. Basically it was a massive give away to the states and local governments . The law stated that all the money must be spent by Dec 31of this year or it would be returned .
But that was then . Clueless wanted to give more time for states and local governments to spend it because there is still $ billions unspent .
State and Local Governments Have Billions in Pandemic Aid Left to Spend - The New York Times (nytimes.com) (https://www.nytimes.com/2023/10/11/us/politics/covid-states-pandemic-aid.html)
Virginia spent less than half of $4.9 billion COVID funds (richmond.com) (https://richmond.com/news/state-regional/government-politics/virginia-has-spent-less-than-half-of-its-4-29-billion-in-pandemic-rescue-funds/article_a4d29568-8231-11ee-881a-5fd2202cd95d.html)
RI still hasn't spent millions in American Rescue Plan Act money (providencejournal.com) (https://www.providencejournal.com/story/news/state/2024/01/04/ri-still-hasnt-spent-millions-in-american-rescue-plan-act-money/72110977007/)
So without Congressional revisions that he knew would not pass; He quietly added an extension to the Federal Register November .
Obligation_Interim_Final_Rule_2023.pdf (treasury.gov) (https://home.treasury.gov/system/files/136/Obligation_Interim_Final_Rule_2023.pdf?utm_source= substack&utm_medium=email)
All it took was changing the official meaning of the word "obligation". As Senator Schmitt explained in a letter to Treasury
Senator Eric Schmitt on X: "Read the letter here. https://t.co/kdZkHeuyE6" / X (twitter.com) (https://twitter.com/SenEricSchmitt/status/1734659259663516137)
How effective has the plan been "
This paper calculates that it cost the American taxpayer $855 thousand per job "saved"
w30168.pdf (nber.org) (https://www.nber.org/system/files/working_papers/w30168/w30168.pdf)
https://i.etsystatic.com/25457094/r/il/e25b43/3554695750/il_570xN.3554695750_a67i.jpg
But that was then . Clueless wanted to give more time for states and local governments to spend it because there is still $ billions unspent .
State and Local Governments Have Billions in Pandemic Aid Left to Spend - The New York Times (nytimes.com) (https://www.nytimes.com/2023/10/11/us/politics/covid-states-pandemic-aid.html)
Virginia spent less than half of $4.9 billion COVID funds (richmond.com) (https://richmond.com/news/state-regional/government-politics/virginia-has-spent-less-than-half-of-its-4-29-billion-in-pandemic-rescue-funds/article_a4d29568-8231-11ee-881a-5fd2202cd95d.html)
RI still hasn't spent millions in American Rescue Plan Act money (providencejournal.com) (https://www.providencejournal.com/story/news/state/2024/01/04/ri-still-hasnt-spent-millions-in-american-rescue-plan-act-money/72110977007/)
So without Congressional revisions that he knew would not pass; He quietly added an extension to the Federal Register November .
Obligation_Interim_Final_Rule_2023.pdf (treasury.gov) (https://home.treasury.gov/system/files/136/Obligation_Interim_Final_Rule_2023.pdf?utm_source= substack&utm_medium=email)
All it took was changing the official meaning of the word "obligation". As Senator Schmitt explained in a letter to Treasury
Senator Eric Schmitt on X: "Read the letter here. https://t.co/kdZkHeuyE6" / X (twitter.com) (https://twitter.com/SenEricSchmitt/status/1734659259663516137)
How effective has the plan been "
This paper calculates that it cost the American taxpayer $855 thousand per job "saved"
w30168.pdf (nber.org) (https://www.nber.org/system/files/working_papers/w30168/w30168.pdf)
https://i.etsystatic.com/25457094/r/il/e25b43/3554695750/il_570xN.3554695750_a67i.jpg