DENVER — Gov. Jared Polis (D-Colo.), state legislators and members of Colorado's federal delegation discussed plans to distribute federal funds from the American Rescue Plan Act on Monday.
Colorado is set to receive $3.8 billion in state aid as part of the plan. Polis said the package unveiled Monday has been a collaborative effort involving state and local governments, along with the private sector.
The package includes $1.3 billion, a full third of the funding, to shore up Colorado’s budget and ensure the state’s fiscal footing is strong, Polis said.
Another one-third of the funds will go towards tackling what Polis described as three of the most significant challenges facing the state: workforce development, reducing housing costs and mental and behavioral health.
The final third of the funding will go toward recovery and relief to create jobs, and includes a $5 billion investment in transportation infrastructure over the next 10 years. Polis said funds will also be used for Investing in public lands and supporting agriculture.
Polis said he’s held more than a dozen meetings through the "Build Back Stronger" listening tour learning about how the funds can have the best positive impact on relief efforts in the state.
“We’ve heard communities across the state louds and clear. The federal stimulus funds that flow from Colorado offer a once in a generation to improve our quality of life, invigorate our economy and help our state recover faster and stronger than ever before,” Polis said.
Just as Congress gave final passage to the $1.9 trillion stimulus package in March that included $1,400 direct payments for many Americans, Colorado political leaders surprised with their own stimulus.
Polis and legislative leaders in both parties announced the "Build Back Stronger" stimulus. Colorado's version does not include direct payments to residents. The plan calls for about $700 million in state spending.
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