U.S. Treasury sets up new 'recovery office' to oversee relief programs
WASHINGTON, April 14 (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.
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.
"Many of these programs are new to Treasury, and have until now been located in disparate parts of Treasury," Adeyemo said.
https://finance.yahoo.com/news/1-u-treasury-sets-recovery-181740308.html
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