There is also a Municipal Liquidity Facility that is supposed to loan money to state and local governments, an issue that has been the topic of intense debate on Capitol Hill and at the White House. The Cares Act allocated a separate $150 billion pot for state and local governments, but governors and Democratic lawmakers have been petitioning for more. The Treasury intends to invest $35 billion in the Municipal Liquidity Facility, which can support up to $500 billion in lending, the report says.
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