By Brian Massie, A Watchman on the Wall
Did you know the financial impact of the CARES ACT and the ARPA funding on Lake County, Ohio?
The Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, is a $2.2 trillion economic stimulus bill passed by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020, in response to the economic fallout of the COVID-19 pandemic in the United States. The spending primarily includes $300 billion in one-time cash payments to individual people who submit a tax return in America (with most single adults receiving $1,200 and families with children receiving more), $260 billion in increased unemployment benefits, the creation of the Paycheck Protection Program that provides forgivable loans to small businesses with an initial $350 billion in funding (later increased to $669 billion by subsequent legislation), $500 billion in loans for corporations, and $339.8 billion to state and local governments.
Unprecedented in size and scope, the legislation was the largest economic stimulus package in U.S. history. [Source: Wikipedia]
Here is how Lake County benefitted from the CARES ACT:
Signed into law on March 11, 2021, the American Rescue Plan Act of 2021 (ARPA) provided state, local, and tribal governments $350 billion in additional funding via the federal Coronavirus State and Local Fiscal Recovery Funds (SLFRF) program.
Here is who received the funding from Lake County Commissioners:
The $10,000,000 payment for payroll and $573,258.06 for health insurance allows the Commissioners to take that same amount from the General Fund as a down payment for the new Public Safety Center (a.k.a. Jail).
Now you know!
Categories: Lake County - General, Lake County Politics, Uncategorized