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Gov. Lee, FSAG Relief Plan includes $3 Billion to strengthen infrastructure, business

By Tamas Mondovics
Editor

Tennessee Governor Bill Lee and the Financial Stimulus Accountability Group (FSAG) released their recommendations for federal relief dollars to support the state’s continued economic recovery.
Such effort includes more than $3 billion in investments to strengthen infrastructure and businesses further.
“As Tennessee continues its strong economic recovery, it’s important that we maintain proper stewardship of federal dollars coming to our state,” said Gov. Lee. “I thank the members of the Financial Stimulus Accountability Group for their efforts to manage these resources and serve Tennesseans.”
A recent release from Lee’s office stated that since April 2020, the bipartisan FSAG has worked to ensure proper management of federal COVID-19 relief dollars, meeting publicly and regularly reporting to bring transparency to the process.
In August 2021, the FSAG committed an initial $1.85 billion of the state’s Fiscal Relief Fund to support sewer, water, and broadband expansion projects across Tennessee. The recommendations released include an additional investment of $1.3 billion in critical infrastructure, public health, and economic relief initiatives: • $628 million to improve state and local public health facilities; • $624 million to support the economic recovery of negatively affected industries.
The recommendations also include a reservation of up to $275 million of the state’s Fiscal Recovery Fund to assist impacted industries. Beginning October 8, 2021, organizations seeking consideration for these funds may apply.
In 2020, the group reportedly invested Coronavirus Relief Fund dollars into the state’s unemployment trust fund, promising to protect jobs and prevent tax hikes. The FSAG is said to support the allocation of over $300 million in grants to small businesses across Tennessee.
For information, go to www.tn.gov/finance/looking-for/stimulus-financial-accountability-group.

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