Treasury Forms New Office to Oversee Host of Relief Programs

(Bloomberg) -- The U.S. Treasury said it had formed an office to oversee many of the pandemic-relief programs handled by the department and funded by Congress over the past 13 months.

“As Americans recover from Covid-19, there is no more important and immediate task for the Treasury Department than helping these Americans get back on their feet, put our economy on a strong footing and avoid any economic scarring,” Deputy Secretary Wally Adeyemo told reporters on a conference call Wednesday.

The Office of Recovery Programs will be charged with keeping money appropriated under the American Rescue Plan, Cares Act and other legislation flowing out the door and reaching its intended targets, a Treasury official said on the call. Jacob Leibenluft, an adviser to Treasury Secretary Janet Yellen, will head up the office.

As of April 7, the Treasury had disbursed about $372 billion in direct payments to Americans under the Biden administration’s $1.9 trillion stimulus package passed in March.

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