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1 1 (July 28, 2021)

handle is hein.crs/govedxl0001 and id is 1 raw text is: Congressional *.Research Service The Economic Development Administration's American Rescue Plan (ARP) Act Grant Programs July 28, 2021 On July 22, 2021, Secretary of Commerce Gina Raimondo announced the availability of approximately $3 billion of grant funding to help communities with recovery efforts in response to economic injury caused by the Coronavirus Disease 2019 (COVID-19) pandemic. Federal assistance is now available to eligible state and local stakeholders through six new programs administered by the Economic Development Administration (EDA). According to the EDA, the programs will fund projects that facilitate job creation, advance innovation, build infrastructure, train workers, and enhance economic resiliency, with an emphasis on projects that serve communities disproportionately impacted by the pandemic. This Insight provides an overview of the EDA's plan for allocating the supplemental appropriations approved in the American Rescue Plan Act (P.L. 117-2). Supplemental Appropriations for Economic Recovery The EDA, a bureau of the U. S. Department of Commerce, is the only federal agency with economic development as its sole mission. Congress approves annual appropriations for EDAprograms, and occasionally approves supplemental appropriations for recovery assistance following natural disasters. The two most recent rounds of supplemental appropriations include The American Rescue Plan (ARP) Act, enacted March 11, 2021, which provided $3 billion for economic adjustment assistance, to prevent, prepare for, and respond to the COVID-19 pandemic. Congress directed EDAto allocate 25% of funding for states and communities impacted by the decline in the travel, tourism, or outdoor recreation sectors. The Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136), enacted March 27, 2020, which provided $1.5 billion of economic recovery assistance funding. In March 2021, EDAannounced a milestone of $1 billion of CARES Act funding awarded. Congressional Research Service https://crsreports.congress.gov IN11712 CRS INSIGHT Prepared for Membersand Committeesof Congress

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