thank you for the opportunity to present the cbo budget request. it is a privilege to lead the congressional budget office and work with hard-working and talented colleagues as we work to support the congress. the cbo is requesting an appropriation of $61 million for 2022, an increase of $3.7 million, or 6.4% from the amount provided in fiscal year 2021. t increase would support our goal to be more responsive to the congress. since 2019, before i was director, the congress has increased the cbo budget to bolster our capacity to make our work more responsive and more transparent. we have been working hard to achieve those objectives. health care. we have been organizing our staff to work on broader shared portfolios, and doing more to document and explain our work. about half the requested increase for next year would be for added staffing. this would cover a full year's salaries and benefits for the seven staff members hired in 2021, and allow us to hire for more staff members to support -- four more staff members to support our work next year. thi

but we are measuring performance of our cbo providers and doing assessment of the quality of care cbos are providing to children and families. and we provide regular reporting of that. actually, this morning we just released our cbo performance data that's broken out by districts. so anyone in the public who wants to know about how is this particular cbo performing along the lines of the measures that we are holding them accountable to, you can good on our website and can look that up. so we want to make sure that families feel comfortable and confident that when they come into a program that dcyf is supporting they know the program is being monitored and that we are working closely to make sure that services are of highest quality. part of quality also requires us to provide supports to our non-profit agencies. and we do that by providing technical assistance and capacity building supports for them and after that we do our evaluation and so we have ago to [technical difficulties] with maintaining that emotional well being and march 10, mayor breed and superintendent mathews jointly an

but we are measuring performance of our cbo providers and doing assessment of the quality of care cbos are providing to children and families. and we provide regular reporting of that. actually, this morning we just released our cbo performance data that's broken out by districts. so anyone in the public who wants to know about how is this particular cbo performing along the lines of the measures that we are holding them accountable to, you can good on our website and can look that up. so we want to make sure that families feel comfortable and confident that when they come into a program that dcyf is supporting they know the program is being monitored and that we are working closely to make sure that services are of highest quality. part of quality also requires us to provide supports to our non-profit agencies. and we do that by providing technical assistance and capacity building supports for them and after that we do our evaluation and so we have ago to [technical difficulties] with maintaining that emotional well being and march 10, mayor breed and superintendent mathews jointly an

coming up, former cbo director douglas holtz-eakin.uck schumer, bending and twisting the senate rules in order to ram through biden's tax-and-spend infrastructure plan. democrats now will be accused of whipping fastballs by voters, doing things like misleading inflating the number of jobs this plan will supposedly create, trying to downplay middle class tax hikes needed to spend, rather to pay for this spend apalooza. the story next e to get it done right, right away. usaa. what you're made of, we're made for. usaa dignity. this thing you can neither see nor measure... ...but that demands the return of small moments illness attempts to steal. ♪ dignity demands a rapid covid test, ♪ because we all need an answer to move forward. ♪ dignity demands your heart stays connected to your doctor, so you know it's beating as it should. ♪ it demands a better understanding of your glucose levels, so you can enjoy movie night. ♪ and knowing your baby is getting the nutrition he needs, no matter how you choose to feed him. dignity is not effortless

in 2007 cbo determined that workers pay more than 70% of the cost of corporate taxes.you look at the past, that's what's happened. >> charlie: yeah, well, people are not in favor of taxing corporations if it means that they lose their jobs. that's going to be the problem here. in that clip you just played of alexandria ocasio-cortez is kind of an amazes one because the entitlement that she exhibits, the entitlement to other people's money that she exhibits in that is kind of extraordinary. >> bret: well, we will have a lot more to talk about with this and add up the votes on capitol hill when it happens. when we come back tomorrow's headlines tonight. ♪ ♪ how great is it that we get to tell everybody how liberty mutual customizes your car insurance so you only pay for what you need? i mean it... uh-oh, sorry... oh... what? i'm an emu! no, buddy! only pay for what you need. ♪ liberty, liberty, liberty, liberty. ♪ ♪♪ tex-mex. tex-mex. ♪♪ termites. go back up! hang on! i am hanging on. don't mess up your deck with tex-mex. terminix. hi. the only way to nix it is to termin

, are we on track to bringing our cbos back this spring? i know there was a conversation about summertime, but has anything shifting? >> sure, commissioner moliga. so there are two conversations happening right now and so we're looking right now for the sixth week in the spring bringing back limited community based organizations wednesday as well as potentially lunch and recess. so we are working with that smaller group which are mostly excellent and beacon sites and we're working on language and we've found funding for them which is really great. so that's moving along. in the summer, we are also because we have had the presentation last week seems like a long time ago and that conversation with cbos is also moving along. we're hoping that's a more expansive offer trying to coordinate between dr. priestly's team that excel bc on my side and of course facilities like what facilities are open. so in kind of the short answer is in the six week period there will be limited partnership with our cbos and then going in to the summer, we're hoping

care of children because of health concerns, the true us unemployment rate is close at 9 percent the cbostimated without the american rescue plan the economy would probably take until 2024 to get back to full employment. i am hopeful the vaccination program proceed as it has been and is successful to get back to full employment next year. we had before the pandemic and employment rate of three.5 percent and it was a problem for a very long time with the inflation to be too low. not too high. if the package did prove to be inflationary we have the tools to address it. i see this as a symmetric i worry much more about adverse consequences from not doing enough then the problems that would result from doing too much. i do believe we have the physical space think it's important in mitigating the suffering of the pandemic and the long-term adverse consequences to the us potential output if we fail to do so it's important to learn the lessons from the 2008 financial economic crisis we had a very slow recovery after the crisis. it took us almost one decade to get the economy fully back on track

. >> plus we speak exclusively with corporate japan's newest organ cbo. find out why -- foreign ceo. find out why he is surprised by the lack of diversity in management. rishaad: i'm much brighter start to the session, that is what we are looking at in terms of the dollar, having a look at some of these asset classes. pmi from china, still positive. the service sector, the economy is still recovering, perhaps not at the clip it was at before. manufacturing: two 51.1 -- about half of 1%. inflation a concern. investors doubt inflation will be as fleeting as the federal reserve thinks. inflation expectations surging, beijing slightly higher thursday. that is interrupting with jay powell's decision that the fed is not ready to wind back stimulus. the u.s. emerges from pandemic lockdown. taking all of that into mind, let us find out what is happening as we get over to first word news from vonnie quinn. vonnie: germany, france and other european union governments are calling on the world to join them in helping india. the come -- the country battles record leve

nonpartisan cbo has been telling us for some time if you raise corporate income tax it comes out of workersges and benefits. the rest is passed to consumers and the shareholders. this is a bad idea my hope they will limit this to real infrastructure and come up with more reasonable options. paul: there is the argument of the tax reform of 2017 encourage companies to base themselves overseas that is why they need to have this proposal. respond to that. >> i don't know where she gets her data. one.$6trillion has come in from overseas repatriated to the united states because of those reforms which by the way those ideas had always been bipartisan. and not locking out the profits overseas and not to be repatriated to america that's why us companies literally were in fort one - - inverting to get out from under the tax code. that stopped with the 2017 reform because it level the playing field. we still have a relatively high corporate tax structure compared to others but it's much closer to that average. we brought back jobs and investment and intellectual property companies like google and qual

if you look at debt dynamics, you can't have the cbo expect to do that medium term, go up 5% to 10%.they do, debt dynamics are out of control. it is really important that rates stay low. we could have a good amount of fixed income locks into the medium-term. tom: this has been wonderful. thank you again for those delicate questions and answers on dublin and taxation corporations. padhraic garvey of ing. he was really struggling in the sense that this is a loaded issue around the world on corporate taxes. lisa: which is the reason why you asked, and then you watched him squirm. [laughter] tom: it's part of the irish culture. they decided in 1999 that one of the solutions was to be a tax haven. there's no difference between what they are doing in the cayman islands, frankly. lisa: is part of the same story of how to pay for all of this debt. we are talking about how high rates of borrowing costs can go in order to make this all sustainable. he is saying if we remain below 3%, we are ok. what happens if the bond vigilantes come back? tom: i would say fed expectations have really shifted

tom: as you model this forward, you have to model out eight years, or the cbo 10 years, and some people 15 years. how do nerds like you do that? how do you guesstimate that far into the unknown? john: it starts with getting the latest data and seeing what is coming in. it is a particular challenge right now. it was much easier to model the 2017 tax law because there was a much more normal state of the economy and we had a good idea of where the corporate profits were going. now it is difficult and it adds uncertain t. -- it adds uncertainty. we are looking at trends and macro numbers and longer-term we rely on more nitty-gritty micro-simulations that looks at the long-term productive capacity of the economy based on demographics, productivity. lisa: just to be clear, tom says nerds like you with love because we all consider ourselves somewhat in that category, just to make that absolutely clear. to make this point about extrapolating into the future, there is a question of whether this plan will induce growth in a material way. will it make productivity increase? some of these input fac

and this is a growth rate that is agreed upon by both the federal reserve and the cbo.ss than 30 seconds. let me squeeze this in, 42% of small businesses say they can't fill positions. a lot of people are saying we give out too much money. no incentive to go back to work. how will this impact the recovery? >> it will slow the recovery in ways that perhaps are not seeing right now but quite frankly, this is incredible. you have a record high 42% small businesses claiming they have a hard time filling job openings and you were supposed to have all of this growth. who will be there manning the counters, manning of the production line if we're going to realize this is perhaps 7 to 8% real gdp growth of 2021. big question. you need the horses. charles: some are saying in sent, when those extra, when the extra 300 bucks rolls off, people will start to go back to work. john, congratulations. we'll talk to you again real soon. bring in rosecliff ventures founder, mike murphy. people are getting so much more money, right? $300 extra. there is the stimmie checks. we know it has b

we begin with former cbo director, look who is back with us, douglas holtz-eakin.reat to have you back on. the longer infrastructure takes to pass the more it falls apart. now there is talk it won't hit congress until august. they want it memorial day. now the misleading stuff that democrats are doing, whipping fastballs by the american people, doug, it is really bad. it is full of slush funds and tax hikes and more. >> yeah. this is not a infrastructure bill. that is now well-established that word lost all meaning in this discussion. it's a big spending bill. it is not going to create jobs. it is called the american jobs plan. it will not create jobs. there will be big tax increases. rich corporations will pay them won't affect but they will. incentive to have the economy growing more slowlily. some of the companies will head overseas to better climates. we'll have fewer increases in productivity, less real wages, less growth in the standard of living this is big government growth bill. it is not much more complicated than that. elizabeth: the middle class, lower

i'm not sure the cbo is very interested in giving us cost savings on that, if any. some people would say and the cbo would say that if you did more, you have to limit consumer choice and access to life-saving drugs. i believe congress must pass a bipartisan prescription drug bill. i suppose if democrats stuck together, they could do under reconciliation, and the argument would not hold, but i hope that is not the course. i think that the wyden-grassley bill could get 60 votes easily. the bill meaningfully lowers drug prices. is there any interest in the administration beyond what you told senator carper to working on enacting bipartisan prescription drug legislation? >> senator grassley, i so enjoyed our conversation and so appreciate your leadership with chairman wyden on this area on this issue. as you know i -- as i know you all care very deeply about lowering costs for patients and families. i have heard from -- in all of my discussions, how much you all care about prescript and drugs -- prescription drugs. we want to come up with solutions for patients. >> what

my next guest was the unilever cbo for half a decade. paul polman, vice chair of emagin --imagine. a good earth day, a good chance to step back and see where we are in the fight period. it seems like the u.s. and china are politically at an inflection point. paul: there is real momentum. there is a job to be done. no country has moved significantly since the paris agreement five years ago. we are projecting three degrees at the end of the century. we need to cut emissions by 50% in the next two years and few countries have made those commitments. there are signs of optimism. the first is the conference that we now have in the u.s. led by president biden. we have seen about 60%-70% of the global economy making commitments to be zero by 2050. we expect today and onwards many countries to make commitments by 2030. we have seen that u.k. make commitments for a reduction by 2035, we have seen countries like japan coming in, korea, china i-20 60. -- china by 2060. we expect the u.s. to come in with a reduction of 45%-50%. there is real momentu

the cbo study, most of the short-term effects, people going -- will not be trading and realizing those capital gains, but we don't want them to. we want them to hold those gains longer. i will get back to you with that number. sen. tillis: thank you. i am sorry our time is limited, i will not be able to ask questions of all the witnesses. am i correct that the act of front running that some worry market makers could engage in, is already illegal? >> that is correct. sen. tillis: should the discussion be more around enforcement of what we already have on the books or do you think we need to go further? >> i think you are right, it is enforcement of what we have on the books. if i may go into more detail on that. there is an inherent conflict of interest in order flow. the sec recognizes that and that is why we have execution requirements, and that is why the sec actively enforces those execution requirements. if the sec were to ban payments for order flow, we would likely go back to commission trading, it would cost to trade, and what that does is it does not eliminate a conflict of int

as a share of gdp was helping to support really economically game-changing innovation but a former cbointo unproductive parts of the economy and won't lead to better growth he told me, quote, at some point to keep them going, you need more money and they are layered on top of existing short falls in social security and medicare. the shadow size of government is bigger than the numbers suggest. well, how does u.s. rank france is the highest with 55% of the economy coming from government spending. the combined federal and state spending in the u.s. is above switzerland and ireland. 2 percentage points would bridge the u.s. about to the level of great britain. so it's bigger government, more debt, higher taxes on corporations and the wealthy versus universal pre-k and free community college. stuff that shows up in quality of life but not so much maybe in gdp. >> all right steve, thank you >>> let's get over to cme and rick for the santelli exchange rick >> good morning. thank you, morgan. i'd like to welcome a special guest larry lindsey. president and ceo of the lindsey group. a long lis

private sector investments according to cbo returns 10% on the dollar wears government investments turn 5%. considering the opportunity cost with government spending, lawmakers must be careful inn choosing offsets that don't do more harm to the economy and modest benefits generated by those investments. the u.s. tax system already is one of the most progressive tax redistribute of systems in any industrialized country so making it even more progressive through proposals such as the wealth tax, minimum tax cuts, increasing corporate tax rate are among the most harmful economic damaging options that can be used to fund government programs. for example, the facts are generally found senator lawrence could raiselt over $2 trillion over a decade high economic costs. the wealth tax m hidden gdp was greater than the effect of raising the corporate tax rates at 28% andta four times greatern the economicer effect of the $25 carbon tax. more important, the model determines tax would result in a shift in the a ownership and rik assets as wealthy taxpayers sold off assets to pay the tax but because

is that the logical conclusion from the cbo? >> that's exactly right in what they did not take into account is the harm to the economy of taxing those dollars in the first place in order to pay for the investment so there are two hits to the economy. one of the opportunity cost of a lower investment and the others that the economic harm that the taxes that are raised to pay for it. >> i do find government tents to take care of itself are a dime notice ms. straughter is the building where the teachers are teaching remotely as respect to a private or parochial school, well maybe not. but if we go to chicago we know that some schools have been open and some modern government employees are not that i see that as a government employee. there's a certain investment that you make. dr. gamage let me find my question here. i have been told that since 1990 at least nine european countries with the wealth tax have abandoned it and he the only three that retained the wealth tax. what are your thoughts about that and wipe should that inspire

we're all in for our families this summer. 54 dcyf cbos are all in. over 50 sfusd school sites are all in and what we need now is to hire all the teachers, the youth development experts to help us and deliver and administer this program. i'm going to hand this over to phil for the next couple of slides. >> thank you, maria. good morning, supervisors. before we dive in, let me also thank this committee each of you individually, and frankly the entire board for what i really think is a very heightened level of focus on kids and families. it's very refreshing and it's because so many of you like maria and me like the children in this city sending them to our public schools, participating in our summer camps. your children and in some cases your grandchildren and it makes a big difference and so i want to thank all of you for your not forgetting children during this pandemic and not forgetting our families. you know, our kids have had a really hard year as we all know and it's very gratifying to see the board and now here we are back at summer together an

the cbos there, we need to work with them. i don't have the answers now.i'm willing to do whatever we can to help those folks. lot of it's all substance abuse. there's mental health issues. wie need to connect the dots to get people to the supportive services that they need. >> supervisor haney: i appreciate that. definitely, agree with you on the complexity of neighborhoods. every neighborhood is different. one things i appreciate about your work, you all understand that. you understand how to approach. in way that's connected with the organizations and meet us there. is there a timeline for this work? is there a time in which sort of when you be able operational or scale up. when we can expect impact of this? obviously, there's a lot of urgency that our residents and constituents feel around this issue of safety. we know that there was some announcements around this. we are supportive of. it's harder for me to understand how to share with my constituents when they'll see some impact of that. >> right. i put in the request to james caldwell who's the chie

was more than the eight years of the prior administration the gdp was $300 billion higher than the cboon higher people that deny where we were in 2019 in terms of low end wage growth, nomore inversions. they were dliving in a differen reality. did you see benefits to cutting the rates? >> absolutely. the best metric is the unemployment rate before the pandemic hit, below 4% we were building an economy with momentum we didn't see since the 50s. the idea that we would raise corporate tax rates is the mother of all really bad ideas you only have to look domestically to see what is happening and the competition between states i live and operate my businesses here in miami. why? i would never start a business in new york or massachusetts or california today with a mobile workforce, i thought i was going to have 15% of my staff not wanting to return to the office i was wrong. it's more like 22% to 25%. same goes for where you put a corporate headquarters you don't have to put it in the united states anymore to be globally competitive you can just see nike now, and getting tremendous momentum

i think a 2% increase in the capital-gains tax, cbo says will raise $7 billion a year.sparity between money in, money out. it is not about economics. it is about power. they want to raise taxes on the rich because they said they would and they can. the message from the democrats, even though thinly coated in veils of bipartisanship, this is great, can't we all get along, is one of the most stunning sort of overhauls of the american political economy of our lifetimes. stuart: is this something to do with the new monetary theory you? just mentioned it. you can print as much money as you like, borrow as much money as you like, nothing happens. keep on printing, because you are replacing the losses that we suffered during the pandemic. therefore, no impact. that is the theory, isn't it? >> it goes beyond that. the theory you can print as much money as you want. borrow as much money as you want until it impacts inflation. what i asked my support, called modern monetary theory, mmt, what happens if you're wrong? what happens if you end up with all the debt we get inflation? t

cut even got the year wrong that should be a clue down the know what he is talking about look at 2017 cbo i was in white house 4,000 dollars over 3 to 5 years xk income for family family two years after tax cuts passed after a decade stagnant growth because they listened to people like zandi, income growth to average family worked exactly the way we said if it hadn't been for pandemic would have careded into 2020 as well, but the point is they are not taking this back, halfway to where they were, under president obama taking us to highest corporate tax on earth much, much higher than it was when president trump took office, there -- imagine, are if hillary clinton won first thing did have a big corporate tax hike on top of the highest corporate tax i think even, you know, left wing democrats would oppose that that is what they are pushing right now the fact is zandi is out there saying you can go to highest corporate tax -- you can have a 1.7 trillion-dollar hike over what obama gave that is not going to affect the economy i mean just goofball city i want believe he would go on tv and say

the cbo predicts for every 1% increase in the capital gapes rate, there's a 1.2% reduction in capital transactions. so what happens is the government ends up losing money by raising capital gains rates, thereby affecting revenues. stuart, this is about ideology. these people are marxist. they want to punish job creators, they want to punish those that are going to provide opportunity for americans. so i think this is going to impact the overall market, we're going to see it, so i think this is not going to bode well for markets this year, stuart. stuart: okay. other than that, is there anything on your with radar screen in the immediate future which would cause us to see a selloff on wall street? anything at all in the immediate future? >> well, stuart, we're heading into the summer months right now. generally speaking, that can be a volatile time for the markets so, look, earnings this week is all about tech,? if large tech companies can come out and hit a home run, that'll be good for the market, but if they miss, that could mean volatile months ahead for the market. stuart: yeah. t

and art's argument that this tax cut paid for itself, the cbo has documented that we lost hundreds of with what was expected to be there after the tax cut. and the concentration was exactly until revenues from high-income people and large corporations the two groups that got the huge tax cut. so, the fact that the american people know that it didn't work is why modest increases -- it doesn't put our texas to the highest in the oecd. if you look at the large economies of the world, they have on average, higher corporate taxes. before the trump tax cut if you remember, we in the obama administration, there was a group of us that wanted to reduce the u.s. rate the business community was on board with that. they wanted the rate to go down, to -- wait for it -- 28% nobody thought they would cut it to 21% and it just went overboard we lost tons of money. the reason why i think they should pay for it is not just randomly let's ask for more money, to the use the money to pay for important public investment >> hey, hey -- >> this allowed deterioration of our physical, our telecom infrastructur

retirement instead of paying 20% in taxes now 40 or 50.in taxes this is a power grab and a way of gaining cbothey can spend more money on liberal nonsense. >> yeah. well look the 39.6.individual rate will hit small business. so you make a good point it is also going hit business and james editorial board this morning write this is. the individual rate likely for the top earners goes to 39.6% at 37%. but when you add in the 3.8% obama care tax on investment you get to 43.4% that's just federal, you add 13.3.in california, and another 12% in new york. plus the 3.8% in knox you're talking about a capital gains tax as regular income and you're headed toward 60%. 60% of your income going to the government, your reaction. >> yeah. it is bad for growth. it is also wrong. there are a lot of reasons why you want that capital gains rate much lower than the individual rate one of them is that this is double taxation people we're tired and want money they paid tax on their income. then as they go to invest the savings to savings they were able to scratch out after paying tax bill on their income, they're

and allocated to staff and infrastructure at the partner cbos and expansion of the existing home ownership emergency loan program which will be necessary and eviction prevention efforts for presenters. and in response to the pandemic widening the digital divide, we propose with the internet access and 400 laptops for high vulnerability and the round of cares act clars on capital improvement with the community partner facility with the retrofits as we recover. the capital dollars are important going forward as that portion of the city budget was spend down last year. as we are proposing funding support for low income businesses and food pantry operations retroactively. next slide please. item six, this is the proposed round two act which the board of supervisors approved for allocating the $43.6 million to shelter in place hotels. in light of partial reimbursement to hotel cost, we propose to shift $10 million for services and operations of the congregate shelt taernd total amount remains the same. next slide please. for item 7, in order to launch the u.s. treasury funded local assistance p

there are cbo, but we'll refer and do intake for businesses that need that support and guide them to where they can get it. annually, those requests are a little over 400 requests that come in annually. now, again -- >> that's the 10-minute clock. >> apologize. so we went over. i'm not sure if the time can be extended or if i should just end here? >> you can go ahead and finish up your presentation. >> i think it would be good to get an estimate of how much longer you think it's going to be? >> if i can get two or three minutes, i will go through these and you have questions, we can come back. so quickly, yes, we work with these organizations, the direct legal service. what we're currently seeing from l.s.c. at this point in time what they covered in terms of last year's services, this year they've already hit the mark. so easily doubling the amount of requests that they're able to meet with their services. again, as i mentioned, the bar association is a new partnership we're developing. we're going to be adding that level of service. and so again, as you all may have heard already,

and allocated to staff and infrastructure at the partner cbos and expansion of the existing home ownership emergency loan program which will be necessary and eviction prevention efforts for presenters. and in response to the pandemic widening the digital divide, we propose with the internet access and 400 laptops for high vulnerability and the round of cares act clars on capital improvement with the community partner facility with the retrofits as we recover. the capital dollars are important going forward as that portion of the city budget was spend down last year. as we are proposing funding support for low income businesses and food pantry operations retroactively. next slide please. item six, this is the proposed round two act which the board of supervisors approved for allocating the $43.6 million to shelter in place hotels. in light of partial reimbursement to hotel cost, we propose to shift $10 million for services and operations of the congregate shelt taernd total amount remains the same. next slide please. for item 7, in order to launch the u.s. treasury funded local assistance p

the cbos there, we need to work with them. i don't have the answers now. i'm willing to do whatever we can to help those folks. lot of it's all substance abuse. there's mental health issues. wie need to connect the dots to get people to the supportive services that they need. >> supervisor haney: i appreciate that. definitely, agree with you on the complexity of neighborhoods. every neighborhood is different. one things i appreciate about your work, you all understand that. you understand how to approach. in way that's connected with the organizations and meet us there. is there a timeline for this work? is there a time in which sort of when you be able operational or scale up. when we can expect impact of this? obviously, there's a lot of urgency that our residents and constituents feel around this issue of safety. we know that there was some announcements around this. we are supportive of. it's harder for me to understand how to share with my constituents when they'll see some impact of that. >> right. i put in the request to james caldwell who's the chi

and allocated to staff and infrastructure at the partner cbos and expansion of the existing home ownership emergency loan program which will be necessary and eviction prevention efforts for presenters. and in response to the pandemic widening the digital divide, we propose with the internet access and 400 laptops for high vulnerability and the round of cares act clars on capital improvement with the community partner facility with the retrofits as we recover. the capital dollars are important going forward as that portion of the city budget was spend down last year. as we are proposing funding support for low income businesses and food pantry operations retroactively. next slide please. item six, this is the proposed round two act which the board of supervisors approved for allocating the $43.6 million to shelter in place hotels. in light of partial reimbursement to hotel cost, we propose to shift $10 million for services and operations of the congregate shelt taernd total amount remains the same. next slide please. for item 7, in order to launch the u.s. treasury funded local assistance p

the cbos there, we need to work with them. i don't have the answers now.i'm willing to do whatever we can to help those folks. lot of it's all substance abuse. there's mental health issues. wie need to connect the dots to get people to the supportive services that they need. >> supervisor haney: i appreciate that. definitely, agree with you on the complexity of neighborhoods. every neighborhood is different. one things i appreciate about your work, you all understand that. you understand how to approach. in way that's connected with the organizations and meet us there. is there a timeline for this work? is there a time in which sort of when you be able operational or scale up. when we can expect impact of this? obviously, there's a lot of urgency that our residents and constituents feel around this issue of safety. we know that there was some announcements around this. we are supportive of. it's harder for me to understand how to share with my constituents when they'll see some impact of that. >> right. i put in the request to james caldwell who's the chie

the cbos there, we need to work with them. i don't have the answers now.i'm willing to do whatever we can to help those folks. lot of it's all substance abuse. there's mental health issues. wie need to connect the dots to get people to the supportive services that they need. >> supervisor haney: i appreciate that. definitely, agree with you on the complexity of neighborhoods. every neighborhood is different. one things i appreciate about your work, you all understand that. you understand how to approach. in way that's connected with the organizations and meet us there. is there a timeline for this work? is there a time in which sort of when you be able operational or scale up. when we can expect impact of this? obviously, there's a lot of urgency that our residents and constituents feel around this issue of safety. we know that there was some announcements around this. we are supportive of. it's harder for me to understand how to share with my constituents when they'll see some impact of that. >> right. i put in the request to james caldwell who's the chie

small business if we should add a third option which would be a neighborhood organization or some other cboone else determined by the director as additional nominating authority. that is a new concept we are just starting to think about. >> to maybe elaborate on my recommendation is that the the two options are -- the merchants association or the petition, then what i am trying to fall for is the ability to add -- the ability to identify additional organizations that would have the same role as the merchants association can then help broaden the number of businesses that would be nominated, particularly organizations that would represent businesses that are either the owners are not, english is not the first language. [please stand by] . >> i think, you know, it's a really good idea, and that's why we're considering that. but, you know, that -- it really comes down to things like that and priority type of outreach that comes down to sort of the traditional business organizations that are not connected with traditional fitness organizations. >> yeah. i guess i'm just think bg the -- of cours