Today, the U.S. Department of the Treasury announced the establishment of the Office of Recovery Programs to lead the Department’s implementation of economic relief and recovery programs, including nearly $420 billion in programs from the American Rescue Plan Act of 2021. This new office, which will be led by the Chief Recovery Officer, will report to Treasury’s Deputy Secretary and will be principally focused on efficiently establishing and administering Treasury’s programs to support an equitable and swift recovery from the economic challenges precipitated by the COVID-19 pandemic.
The Office’s inaugural Chief Recovery Officer is Jacob Leibenluft, who will serve as the lead administrator of recovery programs and the principal advisor to the Secretary and Deputy Secretary on recovery program implementation. The Chief Recovery Officer and staff of the Office will work closely with Gene Sperling, the White House American Rescue Plan Coordinator and Senior Advisor to President Biden.
“A new, cohesive model for recovery program implementation at Treasury will help get relief distributed quickly and into the hands of those who need it most,” said Deputy Secretary Wally Adeyemo. “Already we are getting individual payments out the door faster and in greater volume than ever before. We hope to continue this improved delivery, while also supporting outreach between Treasury and important stakeholders across the country. We are thrilled that Jacob is willing to take on this portfolio. He has remarkable policy expertise to bring to these programs, and I’m confident that Americans will benefit from his dedication.”
“I am honored to take on this role and look forward to the opportunity to support equity, transparency, and accountability in the implementation of these programs,” said Chief Recovery Officer Jacob Leibenluft. “Treasury will continue to work around the clock to engage with stakeholders, understand the needs in communities across the country, and swiftly implement relief for those who need it most.”
The Office of Recovery Programs will oversee programs authorized through the CARES Act, the Consolidated Appropriations Act of 2021, and the American Rescue Plan Act, as well as other legislation. These programs include the State and Local Fiscal Recovery Fund, Emergency Rental Assistance, the Homeowner Assistance Fund, the State Small Business Credit Initiative, the Capital Projects Fund, the Coronavirus Economic Relief for Transportation Services (CERTS) Program, the Payroll Support Program, the Coronavirus Relief Fund and the Airline and National Security Loan Program.
