COLORADO IS GETTING 3.8 BILLION DOLLARS IN STIMULUS MONEY FROM THE AMERICAN RESCUE PLAN. A BILLION DOLLARS WILL GO TOWARD THE STATE BUDGET WHILE THE REST WILL BE DISTRIBUTED TOWARD A HOST OF ISSUES INCLUDING THE PANDEMIC RESPONSE... ECONOMIC RECOVERY... EDUCATION... HOUSING... MENTAL HEALTH... AND INFRASTRUCTURE.
WE'RE LOOKING AT THE PLAN FOR THE MONEY... WITH STATE TREASURER DAVE YOUNG.
FUNDING PLAN BREAKDOWN:
• $1 billion toward fortifying the state budget
• $300 million toward Colorado’s ongoing COVID pandemic response
• Between $400 – $500 million toward affordable housing and homeownership efforts
• Between $400 – $500 million toward behavioral and mental health programs
• Roughly $200 million toward workforce development and education
• Roughly $817 million toward economic recovery and relief
• Between $404 – $414 million toward transportation, infrastructure, parks and agriculture
-- The state is planning on spending $2 billion of the package during this legislative session. The remaining $1.8 billion will likely be used during the next session, after a stakeholder process over the summer and fall.