INSIDE COMPLIANCE

The latest COVID-19 relief package passed on March 11, 2021 by Congress provides a total of $1.9 trillion in mandatory funding, program changes, and tax policies designed to address the enduring economic damage caused by the pandemic. About 15% of the total package will be allocated to states and local governments to tackle budgetary issues associated with the pandemic with very few strings attached. The State of Illinois and the city of Chicago are in the process of assessing the relief package and formulating plans as to how they will allocate the funds.