Disaster Recovery

Biden Administration Waiving Cost Share For Federal Grants Below $200,000

The Biden administration on Wednesday announced what it said were new efforts to reduce the financial burden on U.S. territories including the U.S. Virgin Islands, American Samoa, the Commonwealth of the Northern Mariana Islands, and Guam. The U.S. Office of Management and Budget (OMB) has directed all federal agencies and departments to waive local cost share requirements under $200,000 for grants for the four U.S. territories. For local matching funds $200,000 and greater, agencies and departments may waive the matching requirement for these four territories. The administration said Mr. Biden’s Bipartisan Infrastructure Law and Inflation Reduction Act are providing once-in-a-generation climate and infrastructure resources to the U.S. territories, including investments in ecosystem restoration and climate resilience. Today’s announcement will help ensure U.S. territories have the investments they need to develop a long-term plan to facilitate conservation, resiliency and economic gr...