North Carolina Governor Roy Cooper and state officials discussed their plans for allocating federal funds from President Biden‘s $1.9 trillion American Rescue Plan Wednesday afternoon.
The funds are expected to go to schools, healthcare and other institutions affected by the pandemic. Here‘s how plans for some of it will be spent.
- $1.2B to broadband access, to help close the gap for those struggling to find work.
- $575M to affordable housing
- $800M to water and wastewater investments
- $350M to scholarships and financial aid
- $350M to the industries hit the hardest by the coronavirus pandemic
- $300M to public education
- $250M to low-income families dealing with financial hardship
- $45M to tourism, motorsports and outdoor events including $10M to Charlotte Motor Speedway and $10M to North Wilkesboro Speedway
Treasury officials said the funds should not be used by state and local governments to cut taxes, pay down debt or bolster reserve funds.
— Fox 8 —
AND: There is also reportedly $10 million for North Wilkesboro Speedway:
#NEW Governor Cooper has announced $30 million of “American Rescue Plan” money will go towards infrastructure repairs at Rockingham Speedway, North Wilkesboro Speedway and Charlotte Motor Speedway. Breakdown looks like each gets $10 million. #NASCAR @savethespeedway
— Brett Baldeck (@BrettFOX46) May 19, 2021
The money would have to be approved by the North Carolina state legislature.