The Town of Jonesboro is set to receive 1.65 million dollars from the Federal Government under the American Rescue Plan Act. Among the $1.9 trillion worth of federal COVID-19 relief in the newly signed Act is $350 billion for “Coronavirus State and Local Fiscal Recovery Funds.” At roughly one-fifth of the bill’s total cost, these funds will be deployed to state and local governments in two tranches (the first within 60 days and the second a year after that initial allotment) to mitigate the fiscal impact of the COVID-19 pandemic.
For many cities and counties, the American Rescue Plan’s (ARP) state and local funds are not just a $350 billion lifeline; they represent the largest positive fiscal jolt to their budgets in decades. Now, a scramble is underway to determine how best to deploy the money. The decisions made in the coming weeks— and over the next year regarding the second tranche of funding—will determine whether cities merely enjoy a brief stimulus or seed a new trajectory of inclusive economic growth.
“We are excited to be receiving this money. It is a tremendous blessing and something that will benefit each and every resident of Town of Jonesboro,” said Jonesboro Mayor Leslie Thompson. “This along with the other grant money that we have received or will be receiving allows us to finally remedy some problems that have plagued us for years due to a lack of funds.”