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Economy 3 hours ago (Mar 22, 2021 10: 00 PM ET)
© Reuters. FILE PICTURE: U.S. Treasury Secretary-designate Janet Yellen in Wilmington, Delaware
Yellen said the Treasury, tasked with executing much of the Biden stimulus plan and distributing the funds, was working to accelerate relief to the locations of biggest requirement, consisting of the smallest of small companies, which are disproportionately owned by women and individuals of color.
The Treasury also is lowering some documentation requirements for struggling Americans to get funds to help them make real estate rental and home mortgage payments in an effort to speed the execution of a $30 billion real estate aid strategy.
Treasury is likewise working closely with state, local, tribal and territorial federal governments to implement $350 billion in aid to them, she stated.
Treasury officials said last week that the state and local government help program, which is still setting guidelines on making use of funds, would start dispersing cash within about 60 days.
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