WASHINGTON — The Treasury Department has disbursed less than 8% — just $37.5 billion of $500 billion — of the emergency funds that Congress approved two months ago for loans and loan guarantees to help stabilize the economy, according to a report Monday from a congressional oversight commission created to monitor how the money is spent.
None of the $46 billion Congress set aside specifically for the airline industry and businesses critical to maintaining national security has been allocated as Treasury officials continue to review the applications for that money, the commission said.
And only one of the five programs the Treasury Department and the Federal Reserve have created to get $454 billion into the economy and to help states and local governments is operating, according to the report.
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