Department of the Treasury 

Treasury Coronavirus 

Relief, Response, Aid, and 

Recovery Programs 

Congressional Budget 

Justification and Annual 

Performance Plan and Report 

FY 2023 

 
COVID - 2 

Table of Contents 

Section I – Vision, Purpose and Context ..................................................................................... 3

A – Mission Statement .............................................................................................................. 3 

B – Enacted Legislation ............................................................................................................ 4 

C – Strategic Approach ............................................................................................................. 5 

Section II – Program Summary ................................................................................................... 7

A – Performance ....................................................................................................................... 7 

B – Assistance for Taxpayers ................................................................................................... 7 

1.1 - Economic Impact Payments ....................................................................................... 7 

1.2 - Employer Refundable Credits .................................................................................... 8 

1.3 - Child and Dependent Care Tax Credits, Advance Payments of Child Tax Credit, 

Child Tax Credit, and Earned Income Tax Credit Changes ............................................. 10 

C – Assistance to American Industry & Small Businesses ..................................................... 11 

1.1 - Transportation Services ............................................................................................ 11 

1.2 - Payroll Support Program, Air Carrier Worker Support & Pandemic Relief for 

Aviation Workers .............................................................................................................. 11 

1.3 - Economic Stabilization Program .............................................................................. 12 

D – Assistance for State, Local, U.S. Territory & Tribal Governments ................................. 13 

1.1 - Coronavirus Relief Fund .......................................................................................... 13 

1.2 - Homeowner Assistance Fund ................................................................................... 13 

1.3 - Emergency Rental Assistance .................................................................................. 14 

E – Access to Capital for Community Development and Small Businesses .......................... 14 

1.1 - Community Development Financial Institutions Fund, Emergency Support ........... 14 

1.2 - Emergency Capital Investment Program .................................................................. 15 

1.3 - State Small Business Credit Initiative ...................................................................... 15 

F – COVID Program Administration and Oversight .............................................................. 16 

1.1 - Bureau of the Fiscal Service ..................................................................................... 16 

1.2 - Internal Revenue Service COVID Response (Admin.) ............................................ 17 

1.3 - Departmental Offices, Office of Recovery Programs .............................................. 17 

1.4 - Special Inspector General for Pandemic Recovery .................................................. 19 

1.5 - Office of the Inspector General ................................................................................ 19 

1.6 - Treasury Inspector General for Tax Administration ................................................ 20 

Section III –Appropriations Language ..................................................................................... 20

A – Treasury Administrative Provisions ................................................................................. 20 

1.1 - Administrative Funding Transfer Authority ............................................................. 20
COVID - 3 

Section I – Vision, Purpose and Context 

A – Mission Statement

Continue to administer multiple relief and recovery programs authorized through the Families 

First Coronavirus Response Act (FFCRA), Coronavirus Aid, Relief, and Economic Security Act 

(CARES Act), Consolidated Appropriations Act, 2021, (CAA, 2021) and the American Rescue 

Plan Act (ARP). The responsibilities that have been assigned to the Treasury Department are 

central to the Administration’s overall relief and recovery agenda. They offer unique 

opportunities to secure a robust, equitable recovery through tools including state and local aid, 

rental assistance to struggling tenants, help for homeowners facing foreclosure, and the provision 

of capital to communities that have traditionally been left behind. 

In FY 2023, Treasury projects that the State and Local Fiscal Recovery Fund and the Emergency 

Rental Assistance Program will have at least a $35M administrative funding shortfall. To avoid 

shutting down these essential programs that provide direct relief to the American people, 

Treasury requests Administrative Funding Transfer Authority to ensure resources are effectively 

and efficiently utilized for a centralized and consistent approach to administering and managing 

the various coronavirus recovery and stabilization programs implemented. This proposal would 

not provide new funding (and thus would not have a budgetary “score”) but would provide the 

flexibility to pay for certain programs out of previously appropriated administrative amounts. 

Treasury Amounts in the U.S. Government's COVID-19 Response1

Dollars in Thousands 

 FY 2020 FY 2020 FY 2021 FY 2021 FY 2022 FY 2022 FY 2023 

 

Enacted 

Budget 

Authority 

Obligations Enacted 

Budget 

Authority 

Obligations Enacted 

Budget 

Authority 

Estimated 

Obligations 

Estimated 

Obligations5

AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT 

Statute 

FFCRA 15,000 14,988 0 0 0 0 0 

CARES Act 957,872,800 485,137,300 0 1,298,750 0 17,911 14,908 

CAA, 20212 0 0 (281,848,207) 185,164,793 0 14,750,091 1,763,183 

ARP 0 0 827,883,900 671,822,609 0 154,043,143 1,533,980 

IIJA3 0 0 0 0 (4,566,100) 0 0 

Total4 $957,887,800 $485,152,288 $546,035,693 $858,286,152 ($4,566,100) $168,811,145 $3,312,071 

 FTE 11 88 285 242 1

Enacted budget authority includes varying periods of availability depending on the program legislation; obligations are based on FY 2023 

President’s Budget estimates. 

2

Section 1003 of the CAA, 2021, rescinded unobligated balances from the CARES Act 2020 appropriation from the Economic Stabilization 

Program; the ultimate effect of Sec. 1003 rescinded $478.8B from this program. 3

The Infrastructure Investment and Jobs Act (PL 117-58) Section 90007 rescinded $3B from the CARES Act Section 4120 budget authority 

and $200M from the P.L 116-260 Division N Sec. 411 budget authority in FY 2022 from the Payroll Support Program, Air Carrier Worker 

Support & Pandemic Relief for Aviation Workers and $1.4B from the CARES Act Section 4027 budget authority in FY 2022 from the 

Economic Stabilization Program. 

4

Obligations exclude Recovery Rebate Credits, Employer Refundable Credits, Child and Dependent Care Tax Credits, Advance Payments of 

Child Tax Credits, Child Tax Credits, and any effect of Earned Income Tax Credit Changes. 

5

As detailed in Section 123 of the proposed Treasury Administrative Provisions, Treasury is requesting administrative flexibility between the 

following COVID related programs; Transportation Services, Payroll Support Program, Air Carrier Worker Support & Pandemic Relief for 

Aviation Workers, Economic Stabilization Program, State and Local Fiscal Recovery Fund, Homeowner Assistance Fund and Emergency

Rental Assistance. The FY 2023 obligations reflect the effect of this proposal. 
COVID - 4 

B – Enacted Legislation 

The coronavirus pandemic has had unprecedented, widespread impacts on the economy and 

caused significant disruptions to industries and families across America. In response to the onset 

of the COVID-19 pandemic in FY 2020, Congress passed the Families First Coronavirus 

Response Act (FFCRA) (P.L. 116-127) and the Coronavirus Aid, Relief, and Economic Security 

Act (CARES Act) (P.L. 116-136). As the pandemic continued into FY 2021, Congress provided 

additional relief in the Consolidated Appropriations Act, 2021 (CAA, 2021) (P.L. 116-260), and 

passed the American Rescue Plan Act (ARP) (P.L. 117-2). The legislative intent and focus of the 

Department of the Treasury (Treasury) is to provide fast, effective and efficient direct economic 

assistance to American workers, families, small businesses, and industries. 

The FFCRA was enacted on March 18, 2020. The FFCRA, amended by the COVID-related Tax 

Relief Act of 2020, and the ARP, provides small and midsize employers refundable tax credits 

that reimburse them, dollar-for-dollar, for the cost of providing paid sick and family leave wages 

to their employees for leave related to COVID-19. The FFCRA gives businesses with fewer than 

500 employees funds to provide employees with paid sick and family and medical leave for 

reasons related to COVID-19, either for the employee's own health needs or to care for family 

members. 

 

The CARES Act, enacted on March 27, 2020, created a variety of programs to address the 

COVID-19 pandemic. The CAA, 2021, enacted on December 27, 2020, created several new 

programs and maintained many of the CARES Act programs by adding new phases, new 

allocations, and new guidance. 

The ARP continues many of the programs started by the CARES Act and CAA, 2021. The ARP 

also created a variety of new programs to address continuing pandemic-related crises, and fund 

recovery efforts as the United States begins to emerge from the pandemic. 

In FY 2022, Congress enacted the Infrastructure Investment and Jobs Act (IIJA) (P.L. 117-58). 

Section 90007 of the IIJA rescinded $4.6 billion in funds from the CARES Act Section 4120 

budget authority and the CAA, 2021 Division N Sec. 411 budget authority. 

Treasury categorizes enacted COVID related programs into four categories: 1) assistance to 

taxpayers, which includes individuals and businesses, 2) assistance to American industry and 

small businesses, 3) assistance for state, local, U.S. territory and Tribal governments, and 4) 

access to capital for community development and small businesses. Treasury also received 

funding for program administration and oversight. 

 
COVID - 5 

Treasury COVID-19 Budget Authority Overview1

Dollars in Thousands 

 

2020 

Enacted 

2020 

Enacted 

2021 

Enacted 

2021 

Enacted 

2021 

Enacted 

 FFCRA CARES Act CAA, 2021 ARP IIJA 

AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT 

Assistance to Taxpayers2 Economic Impact Payments3 0 275,087,000 141,384,000 407,430,000 0 

 Assistance to Industry & Small Businesses Transportation Services 0 0 1,975,000 0 0 

Payroll Support Program, Air Carrier Worker Support 

& Pandemic Relief for Aviation Workers4 0 31,900,000 16,000,000 14,990,000 (3,200,000) 

Economic Stabilization Program5 0 499,870,000 (478,796,257) 0 (1,366,100) 

 Assistance for State, Local, U.S. Territory & Tribal 

Governments Coronavirus Relief Fund 0 150,000,000 0 362,000,000 0 

Homeowner Assistance Fund 0 0 0 9,918,400 0 

Emergency Rental Assistance 0 0 24,985,000 21,517,000 0 

 Access to Capital for Community Development and 

Small Businesses Community Development Financial Institutions Fund, 

Emergency Support 0 0 3,000,000 0 0 

Emergency Capital Investment Program 0 0 8,747,431 0 0 

State Small Business Credit Initiative (SSBCI) 0 0 0 9,800,000 0 

 COVID Program Administration & Oversight Bureau of the Fiscal Service (Fiscal Service) 0 30,100 48,550 23,200 0 

IRS COVID Response (Admin.) 15,000 750,700 509,000 1,861,700 0 

Departmental Offices, Office of Recovery Programs 0 200,000 292,569 330,000 0 

Office of the Inspector General 0 35,000 6,500 5,600 0 

Treasury Inspector General for Tax Administration 0 0 0 8,000 0 

 $15,000 $957,872,800 ($281,848,207) $827,883,900 ($4,566,100) 1

Budget authority is based on enacted legislation; subsequent legislation extending existing authority increases the initial legislative authority. 

The table displays both mandatory and discretionary funding. Excludes Authority from Recovery Rebates, Employer Refundable Credits, 

Child and Dependent Care Tax Credits, Advance Payments of Child Tax Credits, Child Tax Credits, and any effect of Earned Income Tax 

Credit Changes. 

2

Mandatory funding; amounts will change as funds are needed and obligated; assistance to Taxpayers also includes some support for 

businesses. 

3

Excludes Recovery Rebate Credits associated with all Economic Impact Payments; In FY 2021, Recovery Rebate Budget Authority was

$26,889M, of which, $23,403M was obligated; $3,462M is estimated to be obligated in FY 2022 and $24M in FY 2023. 4

The Infrastructure Investment and Jobs Act (P.L.117-58) Section 90007 rescinded $3B from the CARES Act Section 4120 budget authority 

and $200M from the P.L 116-260 Division N Sec. 411 budget authority in FY 2022. 

5

Section 1003 of the CAA, 2021, rescinded unobligated balances from the CARES Act 2020 appropriation to the Economic Stabilization 

Program; the ultimate effect of Sec. 1003 rescinded $478.8B from this program. The IIJA, Section 90007, rescinded $1.4B from the CARES 

Act Section 4027 budget authority in FY 2022. 

C – Strategic Approach 

In response to enacted legislation, Treasury established the Office of Recovery Programs (ORP), 

managed by the Chief Recovery Officer, to lead the Department’s implementation of various 

COVID-19 related programs. This office is principally focused on efficiently establishing and 

administering Treasury’s programs to support an equitable and swift recovery from the economic 

challenges precipitated by the COVID-19 pandemic. Specifically, ORP contributes to two 

objectives in goal 1 (Equitable Economic Growth and Recovery) of Treasury’s FY 2022-2026 

Strategic Plan. ORP co-leads Objective 1.3, which focuses on promoting equitable financial 

recovery and growth through support and flow of capital to small businesses, households, and 

underserved communities, and contributes to Objective 1.4 by expanding fair and equitable 

access to homeownership and affordable rental opportunities. 
COVID - 6 

The implementation of the recovery programs disbursed through the tax code, including 

Economic Impact Payments, the enhanced Child Tax Credit (CTC), and the CTC advance 

payments, will continue to be led by the Office of Tax Policy, the Internal Revenue Service, and 

the Bureau of Fiscal Service, in coordination with the Office of Recovery Programs. 

ORP is building the office with the capacity to manage current and future recovery programs 

with a high degree of expertise, resiliency, and competence. Many of ORP’s programs include 

long-term responsibilities requiring ongoing and effective change management practices to 

shepherd programs through each stage of the programmatic lifecycle. ORP and programmatic 

leadership are continually learning what is required to successfully implement these recovery 

programs. The matrix structure that ORP is developing is designed to promote knowledge 

sharing and nimbleness along with strong relationship-building with state, local, U.S. territories 

and tribal governments. ORP is investing in enhanced institutional capabilities that will support 

an integrated and reliable technical platform for payments and reporting, a recipient monitoring 

and remediation capacity, and grants management expertise. 
COVID - 7 

Section II – Program Summary 

A – Performance 

COVID related programs support the following objectives in the Treasury FY 2022 – 2026 

Strategic Plan: 

 Objective 1.1 Tax Administration and Policy – direct payments to taxpayers (Economic 

Impact Payments and the Child Tax Credit) 

 Objective 1.3 Economically Resilient Communities – relief to state, local, territorial, and 

Tribal governments (Coronavirus Relief Fund, State and Local Fiscal Recovery Fund); 

access to capital for households and businesses through Community Development Financial 

Institutions (CDFI) support, the Emergency Capital Investment Program, and the State Small 

Business Credit Initiative 

 Objective 1.4 Resilient Housing Market – relief to homeowners and renters through the 

Homeowner Assistance Fund and Emergency Rental Assistance programs 

Within the strategic plan, Treasury identified high-level desired outcomes for each of these 

objectives, as well as measures and indicators of success at the strategy level. Treasury is 

working to develop performance measures for ARP and CDFI programs, which will help the 

agency track progress towards the measures, indicators, and outcomes in the strategic plan. At 

the program level, Treasury is working to define success and identify datasets which, in addition 

to data provided through program reporting, can be used to measure whether programs are 

having the intended outcomes and impact and contributing to the outcomes in the strategic plan. 

Treasury guidance is designed to encourage program participants to consider the statutory 

requirements of the programs while reducing burden and barriers to program access. Recipients 

and grantees are required to provide robust reporting on demographic and geographic 

distribution of funds, community engagement, and outcomes. Treasury will use the data reported 

by program participants and other relevant data to develop a comprehensive set of metrics for 

recovery programs, which will include measures of program outputs and outcomes as well as 

economic indicators to understand broader program outcomes. Additionally, Treasury is working 

to make data publicly available to enable program evaluations. 

B – Assistance for Taxpayers 

The Treasury Department, the Bureau of the Fiscal Service (Fiscal Service), and the Internal 

Revenue Service (IRS) have provided three rounds of fast and direct relief payments during the 

COVID-19 crisis. 

1.1 - Economic Impact Payments 

This account includes the 2020 and 2021 recovery rebate credits, including the advance 

Economic Impact Payments of those credits, enacted in Section 2201(a) of the CARES Act, 

Section 272(a) of the COVID-related Tax Relief Act of 2020, enacted in Subtitle B of Title II of 

Division N of the CAA, 2021, and Section 9601(a) of the ARP. 

 
COVID - 8 

Economic Impact Payments1

Dollars in Thousands FY 2020 FY 2020 FY 2021 FY 2021 FY 2022 FY 2022 FY 2023 

 

Enacted 

Budget 

Authority 

Obligations Enacted 

Budget 

Authority 

Obligations Enacted 

Budget 

Authority 

Estimated 

Obligations 

Estimated 

Obligations 

AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT 

Statute 

CARES Act 275,087,000 274,654,000 0 433,000 0 0 0 

CAA, 2021 0 0 141,384,000 141,369,000 0 15,000 0 

ARP 0 0 407,430,000 404,303,000 0 3,127,000 0 

Total $275,087,000 $274,654,000 $548,814,000 $546,105,000 $0 $3,142,000 $0 1

Excludes Recovery Rebate Credits associated with all Economic Impact Payments; In FY 2021, Recovery Rebate Budget Authority was

$26,889M, of which, $23,403M was obligated; $3,462M is estimated to be obligated in FY 2022 and $24M in FY 2023. 

 

1.2 - Employer Refundable Credits 

Employee Retention Credit: Section 2301 of the CARES Act created the employee retention 

credit, a refundable tax credit against certain employment taxes equal to 50 percent of the 

qualified wages certain businesses and tax-exempt employers pay to employees (up to $10,000 

per employee) after March 12, 2020, and before January 1, 2021. Eligible employers could get 

immediate access to the credit by reducing employment tax deposits they were otherwise 

required to make and by requesting an advance of the credit. 

Section 206 of the Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted as Division 

EE of the CAA, 2021, amended and made technical changes to section 2301 of the CARES Act 

retroactive to the section 2301's original effective date including permitting an employer that 

received a Paycheck Protection Program (PPP) loan to be eligible to claim an employee retention 

credit under section 2301, provided the wages reported in support of the forgiveness of the PPP 

loan are not the same wages for which the credit is claimed. 

Section 207 of the Taxpayer Certainty and Disaster Tax Relief Act of 2020 extended the 

employee retention credit to qualified wages paid after December 31, 2020 and before July 1, 

2021; increased the maximum credit amount that may be claimed per employee (making it equal 

to 70 percent of $10,000 of qualified wages paid to an employee per calendar quarter); limited 

eligibility for and amount of the credit advance; and expanded the category of employers that 

may be entitled to claim the credit, among other technical amendments. 

Section 9651 of the ARP enacted section 3134 of the Internal Revenue Code of 1986, which 

extended the availability of the employee retention credit to wages paid after June 30, 2021, and 

before January 1, 2022. Section 3134 generally maintained the structure of the employee 

retention credit as provided under section 2301 of the CARES Act, as amended, with certain 

changes. 

Employers in a U.S. Territory that otherwise qualify for the employee retention credit can claim 

the credit. Payments of wages by employers in U.S. Territories are wages within the meaning of 

section 3121(a) and therefore employers eligible to claim the credit include employers in the 

U.S. Territories that pay qualified wages and otherwise meet the requirements for the credit. 

Section 80604 of the IIJA amended Code section 3134 to provide that the employee retention 
COVID - 9 

credit under section 3134 shall apply only to wages paid after June 30, 2021, and before October 

1, 2021 (or, in the case of wages paid by an eligible employer which is a recovery startup 

business, January 1, 2022). 

Paid Leave Credits: Sections 7001 and 7003 of Division G of the FFCRA created refundable tax 

credits against certain employment taxes for small and midsize employers to reimburse them for 

the cost of providing required paid sick and family leave wages to their employees for leave 

related to COVID-19 as set forth under Division E, the Emergency Paid Sick Leave Act 

(EPSLA) and Division C, the Emergency Family and Medical Leave Expansion Act (Expanded 

FMLA) of the FFCRA. Sections 7002 and 7004 of the FFCRA created similar credits for certain 

self-employed persons in similar COVID-related circumstances. An employer is eligible for 

credits for qualified sick leave wages up to $511 per day and $5,110 in the aggregate (for up to 

10 days of leave) and up to $200 per day and $10,000 in the aggregate (for up to 10 weeks of 

leave) for qualifying COVID-related leave reasons. Eligible employers could get immediate 

access to the credit by reducing employment tax deposits they are otherwise required to make 

and by requesting an advance of the credit. The requirement to provide leave under the EPSLA 

and Expanded FMLA expired on December 31, 2020, but the credits for paid leave that 

otherwise would have satisfied the requirements under the EPSLA and Expanded FMLA were 

later extended through September 30, 2021. 

Sections 286, 287 and 288 of the COVID-related Tax Relief Act of 2020, enacted under Division 

N of the CAA, 2021, extended the credits for periods of leave from January 1, 2021, through 

March 31, 2021, and made certain technical improvements to the FFCRA credit provisions. 

Section 9641 of the ARP enacted sections 3131, 3132, and 3133 of the Code to extend the credits 

through the period from April 1, 2021 through September 30, 2021; expand the category of 

employers eligible for the credit; reset the limitations on the amount of qualified wages that may 

be taken into account for purposes of the credits (and increased the aggregate cap for paid family 

leave wages from $10,000 to $12,000); expand the category of qualifying reasons for paid leave 

wages eligible for the credits (including leave to receive and recover from a COVID-19 vaccine), 

and make other technical amendments. (Sections 9642 and 9643 of the ARP amended and 

extended the equivalent tax credits for certain self-employed individuals for April 1, 2021, 

through September 30, 2021.) 

Employers in a U.S. Territory that otherwise qualify for the paid leave credits can claim the 

credit. Payments of wages by employers in U.S. Territories are wages within the meaning of 

section 3121(a) and therefore employers eligible to claim the credit include employers in the 

U.S. Territories that pay qualified wages and otherwise meet the requirements for the credit. 

COBRA Credit: Section 9501 of the ARP required certain employers to offer free Consolidated 

Omnibus Budget Reconciliation Act (COBRA) coverage to certain qualified individuals for 

periods of coverage from April 1, 2021, through September 30, 2021. The ARP provided tax 

credits to employers to offset the cost of the COBRA coverage. The ARP provision subsidized 

100 percent of COBRA premiums for six months for individuals who lost employment 

involuntarily or had reduced hours. 
COVID - 10 

1.3 - Child and Dependent Care Tax Credits, Advance Payments of Child Tax Credit, Child Tax 

Credit, and Earned Income Tax Credit Changes 

Section 9631(a) of the ARP amended Section 21 of the Internal Revenue Code (Code) to provide 

special rules for the Child and Dependent Care Tax Credit (CDCTC) solely for Tax Year 2021. 

Specifically, the ARP made the CDCTC fully refundable. In addition, the maximum credit rate 

of the CDCTC increased from 35 percent to 50 percent. The amount of expenses that are eligible 

for the CDCTC was increased from $3,000 to $8,000 for one qualifying dependent (from $6,000 

to $16,000 for two or more qualifying dependents). The ARP increased the phase-out threshold 

of the CDCTC from $15,000 of AGI to $125,000. The credit rate is phased down, but not below 

20 percent, by 1 percentage point for each $2,000 (or fraction thereof) by which the taxpayer's 

adjusted gross income (AGI) exceeds this threshold. The ARP further phased down the credit 

rate of 20 percent by 1 percentage point for each $2,000 (or fraction thereof) by which the 

taxpayer's AGI exceeds $400,000. Section 9631(b) of the ARP amended Section 21 of the Code 

to authorize payments to U.S. territories with mirror code tax systems and to U.S. territories with 

non-mirror code tax systems. 

Section 9632(a) of the ARP amended Section 129(a)(2) of the Code to increase, for Tax Year 

2021 only, the maximum amount of employer-provided dependent care assistance that may be 

excluded from gross income. This increase doubles the generally applicable amounts that is, 

$5,000 (or $2,500 in the case of a married individual filing a separate return) such that an eligible 

employee for Tax Year 2021 can receive an exclusion of $10,500 (or $5,250 in the case of a 

married individual filing a separate return). 

Sections 9611 and 9612 of the ARP amended the Internal Revenue Code (Code) to modify the 

CTC generally for 2021 only. Section 9611 of the ARP amended Section 24 of the Code to make 

the entire amount of the CTC refundable and extended the CTC to cover qualifying children 17 

years old and younger. The legislation also increased the amount of the CTC from $2,000 to 

$3,600 for qualifying children under age 6, and $3,000 for other qualifying children under age 

18. The amount of this increase in the CTC (that is, $1,600 in the case of qualifying children 

under age 6 and $1,000 in the case of other qualifying children under age 18) is reduced by $50 

for each $1,000 (or fraction thereof) by which the taxpayer's modified adjusted gross income 

exceeds certain thresholds. These thresholds are (i) $150,000 for joint filers and surviving 

spouses, (ii) $112,500 for heads of household, and (iii) $75,000 in all other cases. In addition, the 

ARP amended the Code to require advance payments of the CTC to be made periodically 

throughout 2021, beginning after July 1, based on the taxpayer's 2020 or 2019 tax returns, in an 

aggregate amount equal to 50 percent of the estimated amount of the taxpayer's refundable CTC. 

Section 9612 of the ARP amended Section 24 of the Code to remove the requirement for bona 

fide residents of Puerto Rico to have three qualifying children to claim the CTC. For 2021 and 

years thereafter, bona fide residents of Puerto Rico need only one qualifying child to claim the 

CTC. In addition, section 9612 of the ARP amended Section 24 of the Code to provide that 

certain residents of American Samoa, the Commonwealth of the Northern Mariana Islands, 

Guam, or the U.S. Virgin Islands, may have been eligible to receive from their territory tax 

agency advance Child Tax Credit payments under the expanded, refundable CTC for 2021. 

Sections 9621 through 9626 of the ARP modified the EITC. For Tax Year 2021 only, the ARP, 

generally, (i) reduced from 25 to 19 the general minimum age to claim the EITC with no 
COVID - 11 

qualifying children (Childless EITC); (ii) eliminated the upper-age limit for the Childless EITC; 

(iii) increased the credit amount and the phaseout percentages for the Childless EITC; and (iv) 

allowed individuals to use their earned income from Tax Year 2019 instead of their earned 

income from Tax Year 2021, if earned income from Tax Year 2021 is less, for purposes of 

calculating the EITC for Tax Year 2021. The ARP also permanently modified the rules, 

beginning in 2021, regarding (i) children who fail to meet certain identification requirements, (ii) 

separated spouses, (iii) the disqualified investment income test, and (iv) the application of the 

EITC to the U.S. territories. 

C – Assistance to American Industry & Small Businesses 

The COVID-19 public health crisis and resulting economic crisis have put many sectors of the 

American economy under unprecedented strain. The Treasury Department is offering financial 

support to American industry so they can better support American workers and play a pivotal 

part in driving the national recovery effort. 

The pandemic has also created a variety of challenges for small, micro, and solo businesses in 

communities across the country. Treasury is also providing critical assistance to small businesses 

across the country, facilitating the urgent deployment of capital and support to help these 

organizations not just persevere, but recover on solid footing. 

1.1 - Transportation Services 

The CCA, 2021, Section 421, authorized the Secretary of the Treasury, in consultation with the 

Secretary of Transportation, to make grants available to eligible providers of transportation 

services that suffered revenue loss due to the coronavirus pandemic. Eligible companies 

provided charter, local, commuter, school, and tour bus services. Eligible small passenger vessels 

(as defined in 46 U.S.C 85, 116, and 2101) and the pilotage industry were also included. 

Transportation Services 

Dollars in Thousands FY 2020 FY 2020 FY 2021 FY 2021 FY 2022 FY 2022 FY 2023 

 

Enacted 

Budget 

Authority 

Obligations Enacted 

Budget 

Authority1

Obligations Enacted 

Budget 

Authority 

Estimated 

Obligations 

Estimated 

Obligations 

AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT 

Statute 

CAA, 2021 0 0 1,975,000 1,290,525 0 684,475 0 

Total $0 $0 $1,975,000 $1,290,525 $0 $684,475 $0 

1

Funds available until expended; excludes $25M designated for administrative expenses. 

1.2 - Payroll Support Program, Air Carrier Worker Support & Pandemic Relief for Aviation 

Workers 

The CARES Act Section 4112, CAA, 2021 Division N Section 402, and the ARP Section 7301 

each authorized the Secretary of the Treasury to provide financial assistance to the aviation 

industry for the continued payment of employee wages, salaries, and benefits. The CARES Act 

provided for financial assistance to passenger air carriers, cargo air carriers, and airline 

contractors. The two subsequent laws provided for additional financial assistance only for 

passenger air carriers and airline contractors. 

The IIJA Section 90007 rescinded $3 billion from CARES Act Section 4120 budget authority, 

which corresponded with a lack of demand for the program among cargo airlines, as well as 
COVID - 12 

$200 million from the CAA, 2021 Division N Sec. 411 budget authority. 

Payroll Support Program, Air Carrier Worker Support & Pandemic Relief for 

Aviation Workers 

Dollars in Thousands FY 2020 FY 2020 FY 2021 FY 2021 FY 2022 FY 2022 FY 2023 

 

Enacted 

Budget 

Authority 

Obligations Enacted 

Budget 

Authority 

Obligations Enacted 

Budget 

Authority 

Estimated 

Obligations 

Estimated 

Obligations 

AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT 

Statute CARES Act1 31,900,000 28,199,000 0 478,126 0 (1,345) 0 

CAA, 2021 0 0 16,000,000 15,683,351 0 1,335 0 

ARP2 0 0 14,990,000 14,669,058 0 5,632 0 

IIJA3 0 0 0 0 (3,200,000) 0 0 

Total $31,900,000 $28,199,000 $30,990,000 $30,830,535 ($3,200,000) $5,622 $0 1

Excludes $100M designated for administrative expenses; $44.879M in recoveries recorded in FY 2021 2

Funds available until expended; excludes $10M designated for administrative expenses 3

The Infrastructure Investment and Jobs Act (P.L.117-58) Section 90007 rescinded $3B from the CARES Act Section 4120 budget authority 

and $200M from the P.L 116-260 Division N Sec. 411 budget authority in FY 2022. 

1.3 - Economic Stabilization Program 

The CARES Act authorized the Department of the Treasury to make up to $500 billion in loans 

and other investments in support of and to provide liquidity to eligible businesses, nonprofits, 

states, and municipalities impacted by the COVID-19 pandemic. This included investments in 

facilities established by the Board of Governors of the Federal Reserve System pursuant to 

Section 13(3) of the Federal Reserve Act to provide liquidity to the financial system. The 

CARES Act also authorized Treasury to use up to $46 billion of these funds to make loans to 

passenger and cargo air carriers, certain other aviation businesses, and businesses critical to 

maintaining national security. As required by the Federal Credit Reform Act of 1990, as 

amended, this account records the subsidy costs associated with these loans and investments, 

which are estimated on a present value basis. 

The CAA, 2021 Section 1003 rescinded $479 billion in budget authority from this program in 

2021 and the IIJA Section 90007 further rescinded $1.4 billion in 2022. 

Economic Stabilization Program 

Dollars in Thousands 

 FY 2020 FY 2020 FY 2021 FY 2021 FY 2022 FY 2022 FY 2023 

 

Enacted 

Budget 

Authority1

Obligations Enacted 

Budget 

Authority2

Obligations3 Enacted 

Budget 

Authority4

Estimated 

Obligations 

Estimated 

Obligations 

AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT 

Statute 

CARES Act 499,870,000 31,823,000 0 0 0 0 0 

CAA, 2021 0 0 (478,796,257) 0 0 0 0 

IIJA 0 0 0 0 (1,366,100) 0 0 

Total $499,870,000 $31,823,000 ($478,796,257) $0 ($1,366,100) $0 $0 1

$25M transferred to SIGPR; excludes $100M for administrative expenses available until expended, excludes $5M designated for 

Congressional Oversight Commission reimbursement; subsidy and re-estimates not included. 2

Prior year obligations were recovered before the January 9, 2021, recission deadline. 3

Excludes $12.3M in recoveries of prior year obligations. 

4

Section 1003 of the CAA, 2021, rescinded unobligated balances from the CARES Act 2020 appropriation to the Economic Stabilization 

Program; the ultimate effect of Sec. 1003 rescinded $478.8B from this program. The IIJA, Section 90007, rescinded $1.4B from the CARES 

Act Section 4027 budget authority in FY 2022. 
COVID - 13 

D – Assistance for State, Local, U.S. Territory & Tribal Governments 

The COVID-19 public health crisis and resulting economic crisis have put state, local, U.S. 

territory and Tribal governments under unprecedented strain. The Treasury Department is 

providing needed relief to enable them to continue to support the public health response and lay 

the foundation for a strong and equitable economic recovery. 

1.1 - Coronavirus Relief Fund 

The CARES Act Section 5001, as amended by the CAA, 2021, Section 1001, and ARP Section 

9901 amended the Social Security Act (42 U.S.C. 301 et seq.) to authorize the Secretary of the 

Treasury to make payments to states, territories, tribal governments, and units of local 

government to assist with expenditures related to, as well as to mitigate the fiscal effects 

stemming from, the coronavirus pandemic. 

In addition, the ARP established the State and Local Fiscal Recovery Fund, the Coronavirus 

Capital Projects Fund, and a Local Assistance and Tribal Consistency Fund. The Coronavirus 

Capital Projects Fund provides payments to states, territories, and tribal governments to carry out 

critical capital projects, including broadband infrastructure, directly enabling work, education, 

and health monitoring, including remote options, in response to the coronavirus pandemic. The 

Local Assistance and Tribal Consistency Fund provides payments to eligible revenue sharing 

counties and eligible tribal governments for any governmental purpose other than lobbying 

activity. 

Coronavirus Relief Fund 

Dollars in Thousands 

 FY 2020 FY 2020 FY 2021 FY 2021 FY 2022 FY 2022 FY 2023 

 

Enacted 

Budget 

Authority 

Obligations Enacted 

Budget 

Authority1

Obligations Enacted 

Budget 

Authority 

Estimated 

Obligations 

Estimated 

Obligations 

AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT 

Statute 

CARES Act 150,000,000 150,000,000 0 0 0 0 0 

ARP 0 0 362,000,000 242,933,748 0 118,066,252 1,000,000 

Total $150,000,000 $150,000,000 $362,000,000 $242,933,748 $0 $118,066,252 $1,000,000 1

$2B available through 2023, $350B available through 2025 and $10B available until expended; excludes $50M designated for administrative 

expenses. 

1.2 - Homeowner Assistance Fund 

The APR, Section 3206, established the Homeowner Assistance Fund to mitigate financial 

hardships associated with the coronavirus pandemic by providing funds to states, territories, 

tribes, and other eligible entities in order to prevent homeowner mortgage delinquencies, 

defaults, foreclosures, loss of utilities or home energy services, displacements, and postforeclosure evictions. 

 
COVID - 14 

Homeowner Assistance Fund 

Dollars in Thousands 

 FY 2020 FY 2020 FY 2021 FY 2021 FY 2022 FY 2022 FY 2023 

 

Enacted 

Budget 

Authority 

Obligations Enacted 

Budget 

Authority1

Obligations Enacted 

Budget 

Authority 

Estimated 

Obligations 

Estimated 

Obligations 

AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT 

Statute 

ARP 0 0 9,918,400 965,459 0 8,952,941 0 

Total $0 $0 $9,918,400 $965,459 $0 $8,952,941 $0 1

Funds available through FY 2025; excludes $2.6M transferred to the Treasury Office of Inspector General (OIG) for oversight activities and 

$40M designated for administrative expenses. 

1.3 - Emergency Rental Assistance 

The CAA, 2021 Division N Section 501 established the Emergency Rental Assistance program 

to provide grants to states, territories, tribes, localities, and other eligible entities to provide 

financial assistance and housing stability services to eligible households. These services may 

include the payment of rent, rental arrears, and utilities and home energy costs for a specified 

period of time. The ARP Section 3201 provided for additional assistance and expanded housing 

stability services, in addition to allocating a subset of the funds specifically for high-need 

grantees in FY 2022 and FY 2023. 

Emergency Rental Assistance 

Dollars in Thousands 

 FY 2020 FY 2020 FY 2021 FY 2021 FY 2022 FY 2022 FY 2023 

 

Enacted 

Budget 

Authority 

Obligations Enacted 

Budget 

Authority 

Obligations Enacted 

Budget 

Authority 

Estimated 

Obligations3

Estimated 

Obligations 

AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT 

Statute 

CAA, 20211 0 0 24,985,000 24,985,000 0 5,254,323 0 

ARP2 0 0 21,517,000 8,460,191 0 13,056,809 0 

Total $0 $0 $46,502,000 $33,445,191 $0 $18,311,132 $0 1

One-year funding, excludes $15M designated for administrative expenses. 

2

Funds available through FY 2027; $3M transferred to OIG; excludes $30M designated for administrative expenses. 3

In FY 2022, ERA under CAA, 2021, recovered $5.3M in prior year obligations. 

E – Access to Capital for Community Development and Small Businesses 

1.1 - Community Development Financial Institutions Fund, Emergency Support 

The CAA, 2021, provided $3 billion to deliver immediate assistance to CDFIs in communities 

impacted by the COVID-19 pandemic. In the spring of 2021, the CDFI Fund awarded $1.25 

billion of these funds through its newly established CDFI Rapid Response Program (CDFI RRP), 

which was designed to quickly deploy capital to CDFIs through a streamlined application and 

review process. 

The CDFI Fund will begin the process of making $1.75 billion in grant funds available to 

eligible CDFIs to expand their lending, grant making, or investment activity in low- or moderateincome minority communities and to minorities that have significant unmet capital or financial 

service needs. 

 
COVID - 15 

CDFI Emergency Support 

Dollars in Thousands FY 2020 FY 2020 FY 2021 FY 2021 FY 2022 FY 2022 FY 2023 

 

Enacted 

Budget 

Authority 

Obligations Enacted 

Budget 

Authority1

Obligations Enacted 

Budget 

Authority 

Estimated 

Obligations 

Estimated 

Obligations 

AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT 

Statute 

CAA, 2021 0 0 3,000,000 1,248,000 0 3,000 1,742,000 

Total $0 $0 $3,000,000 $1,248,000 $0 $3,000 $1,742,000 

 Total FTE 0 3 12 12 

1

$1.75B Funds available until expended 

 

1.2 - Emergency Capital Investment Program 

The Emergency Capital Investment Program (ECIP) invests in either perpetual preferred equity 

or subordinated debt (with a maturity of fifteen or thirty years) issued by financial institutions 

consistent with ECIP's terms. Institutions eligible to participate must be: 1) Community 

Development Financial Institutions or Minority Depository Institutions; 2) insured depository 

institutions, bank or savings and loan holding companies, or federally insured credit unions; and 

3) supportive of low-and middle-income communities. Dividend yields or interest paid on ECIP 

securities decrease when institutions reach lending goals established at the time of their 

participation. Division N, Section 522 of the CAA, 2021 established ECIP by amending the 

Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4701 et 

seq.) and provided $9 billion for the program. Treasury issued an interim final rule for ECIP on 

March 9, 2021, and on March 22, 2021, the Board of Governors of the Federal Reserve System 

(FRB), Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the 

Currency (OCC) jointly issued an interim final rule for securities issued under ECIP, providing 

that preferred stock issued qualifies as additional tier 1 capital and subordinated debt qualifies as 

tier 2 capital under the FRB/FDIC/OCC capital rule. 

The ECIP application period closed on September 1, 2021, and preliminary recipients were 

announced in December 2021. 

Emergency Capital Investment Program 

Dollars in Thousands 

 FY 2020 FY 2020 FY 2021 FY 2021 FY 2022 FY 2022 FY 2023 

 

Enacted 

Budget 

Authority 

Obligations Enacted 

Budget 

Authority1

Obligations Enacted 

Budget 

Authority 

Estimated 

Obligations 

Estimated 

Obligations 

AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT 

Statute 

CAA, 2021 0 0 8,747,431 0 0 8,747,431 0 

Total $0 $0 $8,747,431 $0 $0 $8,747,431 $0 1

Funds available until expended; excludes $252.569M designated for administrative expenses. 

1.3 - State Small Business Credit Initiative 

The ARP Section 3301, amends the State Small Business Credit Initiative Act of 2010 (12 

U.S.C. 4701 et seq.) and provides additional funding for the State Small Business Credit 

Initiative (SSBCI) that was originally established in the Small Business Jobs Act of 2010 (P.L. 

111-240). SSBCI funds eligible state, territorial and tribal government programs through 
COVID - 16 

September 29, 2030, which provide support to investment and credit programs for small 

businesses, with particular emphasis on business enterprises owned and controlled by socially 

and economically disadvantaged individuals. Additionally, SSBCI funds technical assistance for 

small businesses applying for Federal and State support programs. 

State Small Business Credit Initiative 

Dollars in Thousands FY 2020 FY 2020 FY 2021 FY 2021 FY 2022 FY 2022 FY 2023 

 

Enacted 

Budget 

Authority 

Obligations Enacted 

Budget 

Authority1

Obligations Enacted 

Budget 

Authority 

Estimated 

Obligations 

Estimated 

Obligations 

AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT 

Statute 

ARP 0 0 9,800,000 0 0 9,800,000 0 

Total $0 $0 $9,800,000 $0 $0 $9,800,000 $0 1

Funds available until expended; excludes, designated, but not limited to, $200M for administrative expenses. 

F – COVID Program Administration and Oversight 

1.1 - Bureau of the Fiscal Service 

The CARES Act provided the Fiscal Service $78.65 million in supplemental appropriations for 

the implementation of the Economic Impact Payments (EIP) as well as the implementation of 

reporting requirements associated with spending of COVID-19 supplemental appropriations. In 

the first round of EIPs, Fiscal Service issued more than 166 million EIPs totaling more than $277 

billion. The CAA, 2021 authorized a second round of EIPs and allowed for the transfer up to $63 

million of the $78.65 million appropriated under the CARES Act to offset any losses attributable 

to debt collection activities. Fiscal Service transferred $48.6 million to the Debt Collection Fund 

for this purpose. 

During FY 2021, Fiscal Service disbursed more than 428 million EIP 2, EIP3, and advance 

monthly CTC payments totaling $593 billion, of which 80% were disbursed electronically. In the 

first quarter of FY 2022, Fiscal Service also disbursed more than 110 million EIPs and advance 

CTCs totaling $51 billion, of which 86% of these were disbursed electronically. IRS and Fiscal 

Service partnered to convert 70.2 million payments from check to direct deposit with a 99.6% 

accuracy rate, through the use of Fiscal Service’s Account Verification Service and CrossGovernment Data Analytics, avoiding $33 million in check production costs (check stock, 

envelope, and postage costs). Conversion from check to direct deposit provides an inherently 

improved customer experience through faster, safer, and more accurate payment delivery. This is 

especially notable, as historically, check payments are 16 times more likely to have exceptions 

(e.g., lost, stolen, returned, etc.) than payments made via direct deposit. In addition to the funds 

appropriated by the CARES Act, the CAA, 2021, and the ARP, the IRS reimburses Fiscal 

Service for the cost of postage (see 31 U.S.C. 306 note) associated with EIPs and CTCs. 

 
COVID - 17 

Bureau of the Fiscal Service 

Dollars in Thousands FY 2020 FY 2020 FY 2021 FY 2021 FY 2022 FY 2022 FY 2023 

 

Enacted 

Budget 

Authority1

Obligations Enacted 

Budget 

Authority1

Obligations Enacted 

Budget 

Authority 

Estimated 

Obligations 

Estimated 

Obligations 

AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT 

Statute 

CARES Act2,3 78,650 11,784 0 18,230 0 0 0 

ARP4 0 0 23,200 4,758 0 16,597 0 

Total5 $78,650 $11,784 $23,200 $22,988 $0 $16,597 $0 1

CARES Act funding was available until September 30, 2021. 2

FY 2020 includes deobligations that occurred during FY 2021. 

3

The CAA, 2021, authorized the transfer of up to $63M to offset the losses resulting from the suspension of debt collection receipts during the 

coronavirus pandemic. Fiscal Service transferred $48.55M to the Debt Collection Fund. The funds were fully obligated in FY 2021. 4

ARP funding is available until September 30, 2022. 

5

Total excludes reimbursed postage cost from the IRS (31 U.S.C. 306); In FY 2020 and FY 2021, IRS reimbursed Fiscal Service $16.0M and 

$33.8M for postage cost, respectively. In FY 2022, Fiscal Service is estimating the postage cost to be $6.3M. 

1.2 - Internal Revenue Service COVID Response (Admin.) 

The IRS received $15 million in the FFCRA and $750.7 million in the CARES Act for the 

resources for the IRS to change its operations to operate during the pandemic and implement 

EIPs and other tax changes. The IRS received an additional $509 million in the CAA, 2021 to 

carry out a second round of EIPs and address COVID-related tax administration issues. Finally, 

the IRS received $1.465 billion in the ARP for a third round of EIPs and information technology 

modernization as well as $397.2 million to carry out advance payments for the CTC. 

IRS COVID Response (Admin.)1

Dollars in Thousands 

 FY 2020 FY 2020 FY 2021 FY 2021 FY 2022 FY 2022 FY 2023 

 

Enacted 

Budget 

Authority 

Obligations Enacted 

Budget 

Authority 

Obligations Enacted 

Budget 

Authority 

Estimated 

Obligations 

Estimated 

Obligations 

AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT 

Statute FFCRA 15,000 14,988 0 0 0 0 0 

CARES Act 750,700 423,516 0 326,604 0 0 0 

CAA, 2021 0 0 509,000 502,125 0 0 0 

ARP2 0 0 1,861,700 453,225 0 1,031,086 377,389 

Total $765,700 $438,504 $2,370,700 $1,281,954 $0 $1,031,086 $377,389 1

Includes funds for Taxpayer Services, Enforcement, Operations Support and Systems Modernization with multiple periods of availability. 2

Obligations are based on estimates as of the time of the FY 2023 Budget; assumes funding will be fully obligated by the end of FY 2023. 

1.3 - Departmental Offices, Office of Recovery Programs 

The Office of Recovery Programs, within the Departmental Offices, provides administrative 

support to the following programs: Transportation Services, Payroll Support Program, Air 

Carrier Worker Support & Pandemic Relief for Aviation Workers, Economic Stabilization 

Program, Coronavirus Relief Fund, Homeowner Assistance Fund, Emergency Rental Assistance, 

Emergency Capital Investment Program and State Small Business Credit Initiative. 

In FY 2023, Treasury projects that the State and Local Fiscal Recovery Funds and the 

Emergency Rental Assistance Program will have at least a $35M administrative funding 

shortfall. To avoid shutting down these essential programs that provide direct relief to the 
COVID - 18 

American people, Treasury requests Administrative Funding Transfer Authority to ensure 

resources are effectively and efficiently utilized for a centralized and consistent approach to 

administering and managing the various coronavirus recovery and stabilization programs 

implemented (refer to Section III). This proposal would not provide new funding (and thus 

would not have a budgetary “score”) but would provide the flexibility to pay for certain 

programs out of previously appropriated administrative amounts. 

Departmental Offices, Office of Recovery Programs 

Dollars in Thousands 

 FY 2020 FY 2020 FY 2021 FY 2021 FY 2022 FY 2022 FY 2023 

 

Enacted 

Budget 

Authority1

Obligations Enacted 

Budget 

Authority 

Obligations Enacted 

Budget 

Authority 

Estimated 

Obligations 

Estimated 

Obligations5

AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT 

Statute 

FFCRA 0 0 0 0 0 0 0 

CARES Act1 200,000 24,000 0 34,790 0 10,256 5,908 

CAA, 20212 0 0 292,569 37,690 0 43,527 20,183 

ARP3 0 0 330,000 30,642 0 78,892 55,904 

IIJA 0 0 0 0 0 0 0 

Total4 $200,000 $24,000 $622,569 $103,122 $0 $132,675 $81,995 1

$100M for administrative expenses related to Payroll Support Program, Air Carrier Worker Support & Pandemic Relief for Aviation Workers, 

available until expended; and $100M for the Economic Stabilization Program, available until expended. 2

$25M for administrative expenses related to Transportation Services, available through FY 2022; $15M for Emergency Rental Assistance, 

available through the end of FY 2021; and $252.569M designated for the Emergency Capital Investment Program, available until expended. 3

$10M for administrative expenses related to Payroll Support Program, Air Carrier Worker Support & Pandemic Relief for Aviation Workers, 

available until expended; $50M for the Coronavirus Relief Fund, available until expended; $40M for the Homeowner Assistance Fund, available 

through FY 2025; $30M for Emergency Rental Assistance, available through FY 2027; and designated, but not limited to, $200M for the State 

Small Business Credit Initiative, available until expended. 4

Administrative support for Economic Impact Payments are excluded from this table. 

5

As detailed in Section 123 of the proposed Treasury Administrative Provisions, Treasury is requesting administrative flexibility between 

COVID related programs (excluding SSBCI and ECIP). In FY 2023, Economic Stabilization Program reflects $33M in obligations for 

administrative expenses related to the State and Local Fiscal Recovery Funds, as reflected in the Coronavirus Relief Fund account, and the 

Payroll Support Program, Air Carrier Worker Support & Pandemic Relief for Aviation Workers, reflects $2M for administrative expenses 

related to the Emergency Rental Assistance Program. 

 
COVID - 19 

Departmental Offices, Office of Recovery Programs COVID-19 FTE FY 2020 FY 2021 FY 2022 FY 2023 

 Actual Actual Estimated Estimated 

AMOUNT AMOUNT AMOUNT AMOUNT 

Assistance to Industry & Small Businesses Transportation Services 0 2 11 4 

Payroll Support Program, Air Carrier Worker Support & 

Pandemic Relief for Aviation Workers 0 14 5 1 

Economic Stabilization Program2

 11 11 5 64 Assistance for State, Local, U.S. Territory & Tribal 

Governments Coronavirus Relief Fund2

 0 7 61 0 

Homeowner Assistance Fund 0 2 27 26 

Emergency Rental Assistance 0 3 20 21 Access to Capital for Community Development and 

Small Businesses Emergency Capital Investment Program 0 0 27 23 

State Small Business Credit Initiative (SSBCI) 0 3 37 39 

 Total 11 42 193 178 1

DO FTE are funded from COVID related legislation in support of recovery programs and is not supplemented by Treasury 

Departmental Offices annual appropriation. 

2

As detailed in Section 124 of the proposed Treasury Administrative Provisions, Treasury is requesting administrative flexibility 

between COVID related programs (excluding SSBCI and ECIP). In FY 2023, 63 FTE associated with the Coronavirus Relief Fund are 

recorded in the Economic Stabilization Program for a total for 64 FTE between the two programs. 

1.4 - Special Inspector General for Pandemic Recovery 

The Special Inspector General for Pandemic Recovery (SIGPR) was established by Section 4018 

of the CARES Act. 

SIGPR has the duty to conduct, supervise, and coordinate audits, evaluations, and investigations 

of the making, purchase, management, and sale of loans, loan guarantees, and other investments 

made by the Secretary of the Treasury under programs established by the Secretary, as 

authorized by Section 4018(c) of the CARES Act, and the management by the Secretary of 

programs, as authorized by Section 4018(c) of the CARES Act. 

By express incorporation, SIGPR also has the duties, responsibilities, powers, and authorities 

granted inspectors general under the Inspector General Act of 1978, including broad subpoena 

authority. 

The role and mission of SIGPR is to safeguard the peoples' tax dollars appropriated by Congress 

through the CARES Act until its authority expires in 2025. SIGPR strives to ensure that the 

American taxpayer gets the best return on investment by efficiently rooting out fraud, waste, and 

abuse. In carrying out its mission, SIGPR's goal is to treat everyone with respect, to operate with 

the utmost integrity, and to be fair, objective, and independent. 

The CARES Act provided an initial appropriation of $25 million to SIGPR derived from 

amounts made available under section 4027. 

For additional information regarding SIGPR please refer to the Special Inspector General for 

Pandemic Recovery (SIGPR) Congressional Budget Justification and Annual Performance Plan 

and Report. 

1.5 - Office of the Inspector General 

This account also supports the oversight of COVID response programs, such as the Coronavirus 
COVID - 20 

Relief Fund, Emergency Rental Assistance, and the Homeowner Assistance Fund pursuant to the 

CARES Act, Division N of the CAA, 2021, and the ARP. 

Office of the Inspector General 

Dollars in Thousands FY 2020 FY 2020 FY 2021 FY 2021 FY 2022 FY 2022 FY 2023 

 

Enacted 

Budget 

Authority1

Obligations Enacted 

Budget 

Authority 

Obligations Enacted 

Budget 

Authority 

Estimated 

Obligations 

Estimated 

Obligations 

AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT 

Statute 

CARES Act 35,000 2,000 0 8,000 0 9,000 9,000 

CAA, 20212 0 0 6,500 552 0 1,000 1,000 

ARP3 0 0 5,600 149 0 1,500 1,500 

Total $35,000 $2,000 $12,100 $8,701 $0 $11,500 $11,500 

 Total FTE 0 30 52 52 1

Funds designated for Coronavirus Relief Fund oversight is available until expended. 2

Funds designated for Emergency Rental Assistance oversight is available until expended. 3

Funds designated for Homeowner Assistance Fund oversight is available through 2025; and Funds designated for Emergency Rental Assistance 

oversight is available through 2027. 

1.6 - Treasury Inspector General for Tax Administration 

This account also supports the oversight of EIPs and other fast and direct relief provided by the 

IRS pursuant to the CARES Act, Division N of the CAA, 2021, and the ARP. 

Treasury Inspector General for Tax Administration 

Dollars in Thousands 

 FY 2020 FY 2020 FY 2021 FY 2021 FY 2022 FY 2022 FY 2023 

 

Enacted 

Budget 

Authority 

Obligations Enacted 

Budget 

Authority1

Obligations Enacted 

Budget 

Authority 

Estimated 

Obligations 

Estimated 

Obligations 

AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT AMOUNT 

Statute 

ARP 0 0 8,000 2,380 0 5,620 0 

Total $0 $0 $8,000 $2,380 $0 $5,620 $0 

 Total FTE 13 28 0 1

Funds available through September 30, 2023 

Section III –Appropriations Language 

A – Treasury Administrative Provisions 

1.1 - Administrative Funding Transfer Authority 

SEC. [125]123. Notwithstanding any other provision of law, the unobligated balances from 

amounts made available to the Secretary of the Treasury for administrative expenses pursuant to 

sections 4003(f) and 4112(b) of the Coronavirus Aid, Relief, and Economic Security Act (Public 

Law 116–136); section 421(f)(2) of Division N of the Consolidated Appropriations Act, 2021 

(Public Law 116–260); sections 3201(a)(2)(B), 3206(d)(1)(A), and 7301(b)(5) of the American 

Rescue Plan Act of 2021 (Public Law 117–2); and section 602(a)(2) of the Social Security Act, 

as added by section 9901 of the American Rescue Plan Act of 2021 (Public Law 117–2), shall be 

available for any administrative expenses determined by the Secretary of the Treasury to be 
COVID - 21 

necessary to respond to the coronavirus, including but not limited to expenses necessary to 

implement any provision of the Coronavirus Aid, Relief, and Economic Security Act (Public Law 

116–136), Division N of the Consolidated Appropriations Act, 2021 (Public Law 116–260), the 

American Rescue Plan Act (Public Law 117–2), or title VI of the Social Security Act: Provided, 

That such unobligated balances shall be available in addition to any other appropriations 

provided for such purposes.