A key provision of the American Rescue Plan is the establishment of the $350 billion Coronavirus State and Local Fiscal Recovery Funds for eligible state, local, territorial and Tribal governments to respond to the COVID-19 public health emergency. On May 10, the Department of the Treasury released information relating to the Fiscal Recovery Funds. This expert perspective provides a short summary of the eligible uses, key areas for comment and what to expect next related to Fiscal Recovery Funds.