Treasury to start paying out $350B in state and local aid

The Treasury Department is launching its $350 billion program to distribute aid to state and local governments. It will give the U.S. economy an added boost after relatively modest hiring in April. The aid is part of President Joe Biden’s larger $1.9 trillion coronavirus relief package that became law in March. Biden said Monday that the country is “moving in the right direction” but that no one ever said the process would be easy. Administration officials say payments could begin to go out in the coming days to eligible governments, allowing state, local, territorial and tribal officials to offset the economic damage from the pandemic.