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WASHINGTON (Reuters) - The U.S. Treasury Department on Wednesday unveiled a new office to oversee the implementation of economic relief programs, including nearly $420 billion in programs under President Joe Biden’s $1.9 trillion COVID-19 rescue plan.
FILE PHOTO: The United States Department of the Treasury is seen in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew Kelly/File Photo
The new office will report to Deputy Treasury Secretary Wally Adeyemo and will be led by Jacob Leibenluft, a counselor to Treasury Secretary Janet Yellen, who will work closely with Gene Sperling, the White House rescue plan coordinator.
Consolidating the recovery programs covered under Biden’s American Rescue Plan (ARP) and others enacted under the Trump administration’s CARES Act will improve efficiency, equity and outreach to grantees, Adeyemo told reporters.