The U.S. Department of the Treasury's Office of Tribal and Native Affairs recently led a delegation trip to the Pueblos of Laguna and Acoma in New Mexico. The delegation discussed economic development, marking a significant step in strengthening engagement with Tribal communities, according to an Aug. 11 news release.
“This week’s interagency visits to New Mexico Pueblos are among the numerous efforts the Treasury Department has taken to significantly increase its engagement with Tribes and work across the Biden-Harris administration to augment the impact of investments in Indian Country,” Chief Lynn Malerba, treasurer of the United States, said in the release.
The delegation included officials from various Treasury Department offices and the Consumer Financial Protection Bureau, as well as Rohit Chopra, director of the CFPB, the release reported. The purpose of the visit was to discuss economic development priorities and challenges in Indian Country.
The discussions focused on key topics such as new market tax credits, low-income housing tax credits and the deployment of federal economic recovery funds. Tribal economic development was a central theme, according to the release.
“Tribal economic development is a force multiplier for local economies – improving the lives and livelihoods of Tribal citizens while lifting up our nation at large,” Malerba said in the release.
Officials also met with Tribal leaders during the visits to reinforce the administration's commitment to Tribal growth and prosperity, the release reported.
The Treasury Department has previously worked to provide historic support to Indian Country, including the implementation of American Rescue Plan funding for Tribal communities. This funding includes $20 billion in State and Local Fiscal Recovery Funds allocated to more than 579 Tribal governments, marking a landmark moment in federal funding for Indian Country, the release said.
Additionally, there will be two significant infusions of federal capital to Native-serving Community Development Financial Institutions, including $55 million for immediate COVID-19 assistance, and $46 million for 30 Native CDFIs through the Equitable Recovery Program, according to the release.