The National League of Cities reports that 32 states are withholding federal funding to local governments that was approved under the CARES Act that was signed into law March 27. The survey completed May 18 found most municipal governments have received “no indication when, or if, funds will ever be made available,” the NLC said. Many congressional lawmakers have been under the impression that local governments already have received a share of the CARES Act funding, but that’s not the case. The Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act established a $150 billion Coronavirus Relief Fund that dispersed $8 billion to tribal governments, $3 billion to territories and the District of Columbia and the remaining $139 billion to all states as well as counties and cities with populations over 500,000.
(Read more: The Bond Buyer)
