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U.S. states, cities await guidelines on spending stimulus By Karen Pierog Reuters CHICAGO (Reuters) - U.S. states and local governments are raring to tap billions of dollars coming their way in new federal stimulus funding, but are anxiously awaiting guidance to determine whether items on their wish lists are allowed. U.S. Treasury Department guidance is also expected to clarify states ability to cut taxes and may address using stimulus money to pay off debt. The $1.9 trillion American Rescue Plan Act, signed by President Joe Biden in March, allocates $350 billion for states, municipalities, counties, tribes, and territories to help repair their coronavirus-damaged budgets and economies. The federal government has a tight deadline to start distributing the money.

United statesNew jerseyMark ritaccoJanet yellenJennifer sciortinoKaren pierogJoe bidenEmily swenson brockNational association of countiesNational conference of state legislaturesGovernment finance officers association federal liaison centerUs treasury departmentAmerican rescue plan actPresident joe bidenNational associationGovernment finance officers association