Treasury Starts Office to Oversee Relief Programs

NEW YORK -
A blank check on an idle press at the Philadelphia Regional Financial Center, which disburses payments on behalf of federal agencies in Philadelphia. (AP Photo/Matt Rourke, File)

The U.S. Treasury will form an office within the department that will direct and oversee the many pandemic-relief economic programs and funds created in the past year.

The Office of Recovery Programs will ensure the money allocated under American Rescue Plan and the Cares Act arrive in the hands of its intended recipients, Bloomberg reported. It will be run by Jacob Leibenluft, who is currently an adviser to Treasury Secretary Janet Yellen.

“As Americans recover from Covid-19, there is no more important and immediate task for the Treasury Department than helping these Americans get back on their feet, put our economy on a strong footing and avoid any economic scarring,” Deputy Secretary Wally Adeyemo said.

As of April 9, the Treasury Department has distributed $372 billion in stimulus payments to Americans under the $1.9 trillion American Rescue Plan.

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smarcus@hamodia.com