Jenner & Block

Associated Press Quotes Partner Neil Barofsky on How Coronavirus Stimulus Package Will Be Distributed

In an article titled “Apply here: How to Spend $2.2 trillion — And Rescue Economy,” the Associated Press highlights questions surrounding how the stimulus package will be distributed.  Mr. Barofsky, who served as the first special inspector general of the 2008 Troubled Asset Relief Program, said the package gives the administration “a ton of discretion,” but it’s too soon to know exactly how much because the programs for distributing funds have yet to be set up.  “I think it’s unlikely the Treasury Secretary’s going to call up Bank of America and say, ‘Hey, you’ve got to give a loan to this guy,’” Mr. Barofsky said, “so the opportunities are more in the design of the program that tilts it toward a particular industry or a subset of an industry.”