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InvestmentsU.S. Treasury's Yellen to visit tribal communities; vows greater engagement By Reuters

U.S. Treasury’s Yellen to visit tribal communities; vows greater engagement By Reuters

© Reuters. FILE PHOTO: U.S. Treasury Secretary Janet Yellen attends the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 3, 2021. REUTERS/Phil Noble

By Andrea Shalal

WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Tuesday stated she would visit tribal communities over the subsequent 12 months as her division continues to increase its engagement with Native American tribes, which have been hit disproportionately arduous by the COVID-19 pandemic.

Yellen informed the second day of a White House Tribal Nations Summit that almost 100% of a $20 billion COVID-19 reduction fund earmarked for tribes had been disbursed, which she stated was “quite fast,” however extra assist was wanted.

A brand new $1 trillion infrastructure invoice signed into legislation on Monday and a $1.75 trillion social and local weather spending invoice nonetheless working its approach by way of Congress would offer additional essential assist to tribal governments and households, she stated.

Yellen stated she realized quickly after beginning her job as Treasury Secretary that the division did not have sufficient personnel or sources to assist Native Americans fighting the pandemic’s financial affect, as its contact had beforehand been restricted largely to the Internal Revenue Service.

“You do not need a Ph.D. in economics to know that our economy has never worked well for Native Americans or people living in Indian country,” she stated, in accordance to a textual content of her remarks.

But she stated the Biden administration was dedicated to altering that truth and guaranteeing that Native communities have been represented at Treasury and in its policymaking choices.

She stated the fast disbursement of restoration funds to tribal communities mirrored that dedication and the creation of a “dedicated tribal team” in Treasury’s Office of Recovery Programs, which held over 10 session conferences and 50 info periods over the previous 12 months.

“We’re going to keep doing everything we can to make sure your communities make it to the other side of this crisis,” she stated, underscoring the enhance that President Joe Biden’s deliberate improve in child-care spending and free preschool would offer to Native Americans.

Treasury had no instant touch upon the dimensions of the brand new Treasury tribal group.

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