For Immediate Release: July 6, 2020

Contact: Carter Dougherty at carter@ourfinancialsecurity.org or (202) 251-6700

Uplifting Our Local Communities Act would expand access to CARES Act funding to state and local governments

Washington, DC – “Credit from the Federal Reserve is an important part of managing the looming state and local budget crisis and avoiding massive layoffs and cuts in services,” AFR Policy Director Marcus Stanley said. “But the Federal Reserve has set unjustifiably restrictive conditions on lending to public entities that make it difficult or impossible for states and localities to access loans. This legislation would change those conditions to make critically needed credit accessible to communities across the country.”

More information on the bill can be found here.

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