Lawmakers’ words suggest spending money on infrastructure projects such as improving roads, sewers and broadband access.
Youngstown, Ohio (WKBN)-Mahoning County will receive approximately $ 44 million as part of a stimulus package signed by President Joe Biden yesterday. Mahoning County engineer Pat Guinetti is already thinking about where to use it.
He said that many construction projects are already under construction, where some of that money can be used and more can be introduced with the funding of the stimulus package. There are still many unknowns in the new American Rescue Plan.
“Is it just money, or is it like a grant with a local match component on it?” Guinetti said.
He admits that he has already brainstormed how to spend money.
“There’s a lot you can do with it between roads, bridges and culverts. I can easily spend all $ 44 million overnight,” said Ginnetti. “We also have a lot of big bridges, they are starting to reach their end of life and may require some work.”
Lawmakers’ words suggest that the money will be used for infrastructure projects such as improving roads, sewers and broadband access.
“South Avenue is programmed to pave Matthew through Western Reserve Road, which can accelerate and complete these projects faster,” said Ginnetti.
However, this funding can also replace the local tax revenue lost due to the COVID-19 pandemic.
Guinetti says more details will be needed from Washington about how money can be spent.
This package contains $ 350 billion to cover the loss of income associated with a pandemic. Youngstown alone has lost $ 2.5 million from income tax collection in 2019 to last year and is projected to decline further in 2021.
In Mahoning County, the budget director is still summarizing the numbers, but expects legal costs, bed taxes, and casino income to all decline.
However, authorities have admitted that sales taxes have not fallen enough to produce what they can have.
Commissioners believe the county could have raised another $ 1.6 million if there had been no pandemic. The wording of the American Rescue Plan indicates that such reductions that can be blamed on COVID-19 may be replaced.
“We want to help a community that has been hurt by a loss of income … and we need it,” said Tim Ryan, Congressman of the Valley of D-13.
But Ryan also quickly admits that most of America’s rescue programs have little to do with pandemic-related costs, but instead recovers the money saved over the last three decades.
“I don’t think we should apologize for a second for finally making the kind of investment they need,” Ryan said.
At this point, money is still being spent from last year’s CARES law. Details are key to how the funds are used, but these new funds must be used by the end of 2024.
Breakdown of spending on the new American rescue plan
Source link Breakdown of spending on the new American rescue plan