NASHVILLE – Tennessee and some local governments will receive a combined $2.7 billion under Congress’ recently approved CARES Act, which provides relief to embattled states, the head of the state’s Unified Command, Stuart McWhorter, told legislators Wednesday during a telephone conference call.
A $150 billion provision of the $2.2 trillion measure is providing $1.45 billion directly to Tennessee government, while special provisions for local governments representing over a half million people means $1.19 billion to be split among three governments here: Davidson County (Metro Nashville), Shelby County and the city of Memphis, according to an analysis by the Nashville-based Sycamore Institute, a think tank.
The Sycamore Institute analysis also estimates that Tennessee could see at least $3.6 billion from the federal government’s response so far to the coronavirus pandemic as state officials and local governments battle expected twin crises in both health care and a looming economic recession.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act is the largest economic relief bill in U.S. history.
McWhorter, who last week stepped down as state finance commissioner to take on his new role coordinating the state’s response on behalf of Lee, told state legislators during the teleconference call that the administration, Lt. Gov. Randy McNally, the Senate speaker, and House Speaker Cameron Sexton, have agreed to create a “pandemic finance accountability group.” Members include Senate Finance Committee Chairman Bo Watson, R-Hixson.