{"id":4589,"date":"2020-05-08T23:24:40","date_gmt":"2020-05-09T03:24:40","guid":{"rendered":"https:\/\/www.indianz.com\/covid19\/?p=4589"},"modified":"2020-05-09T00:24:28","modified_gmt":"2020-05-09T04:24:28","slug":"daily-treasury-statement-department-of-the-treasury-3","status":"publish","type":"post","link":"https:\/\/indianz.com\/covid19\/2020\/05\/08\/daily-treasury-statement-department-of-the-treasury-3\/","title":{"rendered":"Daily Treasury Statement (Department of the Treasury)"},"content":{"rendered":"
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The Department of the Treasury in Washington, D.C. Photo: dog97209<\/a><\/p><\/div>\n

The Daily Treasury Statement<\/a> continues to show activity on the Coronavirus Relief Fund line item.<\/p>\n

According to the May 7, 2020, statement<\/a>, $4.333 billion has been withdrawn this month. The figure accounts for payments that began going to tribal governments on May 5.<\/p>\n

The figure matches up with an amount provided in federal court as part of litigation over the fund. During a hearing on the afternoon of May 8, an attorney from the Department of Justice said a total of $4.4 billion has paid to tribes.<\/p>\n

The latest number shows an increase in activity from the $3.374 billion that was reported on the statement from May 6<\/a>. The previous statement reflected the first full day of withdrawals from the fund that was promised to tribes over a month ago.<\/p>\n

Before May 5, nothing had gone out<\/a> to tribes because Treasury had yet to determine how to distribute their $8 billion set-aside of the overall $150 billion fund. States and local governments have already received their shares — as show in the nearly $140 billion in withdrawals seen in the May 5 statement,<\/a> with the “0” reflecting the lack of activity on the tribal side.<\/p>\n

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According to the latest available statement, $959 million was withdrawn on May 7. The number also matches up with additional figures provided in court on May 8 though not precisely.<\/p>\n

According to government attorney Jason Lynch, another $860 million went out on May 6, while another $144 million went out on May 7, he said.  Accounting for any overlaps in withdrawals versus payments on those two days brings it in line with the $959 million figure.<\/p>\n

Additionally, another $38 million was being “authorized” for payments on May 8, Lynch said. The bulk of these funds are going to tribes in Alaska, he said.<\/p>\n

During a prior court proceeding on May 7, Lynch said “payment issues” affected the ability for Treasury to distribute money to Alaska. Tribes in the state hadn’t received a single penny, the judge handing the litigation was told by attorney Natalie Landreth from the Native American Rights Fund. Six tribes in Alaska are part of the case.<\/p>\n

But Lynch denied suggestions of a “categorical holdup” in Alaska, a representation he made again on May 8.<\/p>\n

Additionally, Lynch said about $162.3 million is being withheld for Alaska Native corporations, whose inclusion in the fund is at issue in the litigation. Their payments can’t go out under a preliminary injunction granted by Judge Amit P. Mehta on April 27.<\/p>\n

But the case has not been fully resolved so in the event the Trump administration wins a final judgement in favor of the corporations, they will indeed get their shares, as well as any from the second portion of the fund.<\/p>\n

The first portion accounts for 60 percent of the $8 billion, or $4.8 billion. Once all tribal governments receive their shares, the line item for the Coronavirus Relief Fund should show something close to $4.637 billion in withdrawals.<\/p>\n

The second portion, or $3.2 billion, is set go out this summer — assuming Treasury gets its way. The tribes whose issues were heard in court on May 8 are seeking an “immediate” distribution of the entire fund.<\/p>\n

The Daily Treasury Statement<\/a> is available by 4pm the following business day on Treasury\u2019s website. The figures on the statement are rounded in millions so precise amounts are not provided on the sheet.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Daily Treasury Statement continues to show much of the coronavirus relief fund is going to tribal governments.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[7],"tags":[47,71,390,38,360,498,284,402,235],"class_list":["post-4589","post","type-post","status-publish","format-standard","hentry","category-institutions","tag-alaska","tag-ancs","tag-cares-act","tag-dc","tag-doj","tag-jason-lynch","tag-narf","tag-natalie-landreth","tag-treasury"],"jetpack_featured_media_url":"","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/posts\/4589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/comments?post=4589"}],"version-history":[{"count":5,"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/posts\/4589\/revisions"}],"predecessor-version":[{"id":4600,"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/posts\/4589\/revisions\/4600"}],"wp:attachment":[{"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/media?parent=4589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/categories?post=4589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/tags?post=4589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}