Today, U.S. Treasurer Chief Lynn Malerba traveled to the Mille Lacs Band of Ojibwe (Band) reservation in Minnesota to meet with Tribal leaders and community members to discuss the importance of Tribal general welfare, which enables Tribes to provide assistance to their Tribal citizens, economic recovery efforts supported by the American Rescue Plan Act, and access to capital and banking.
During the visit, Treasurer Chief Lynn Malerba toured the Mille Lacs Wastewater Management, a wastewater treatment facility that services the community. The Nation invested American Rescue Plan State and Local Fiscal Recovery Funds (SLFRF) in the facility to improve water quality for Tribal members, fish and wildlife, conserve water, and to protect the Band’s economy.
The Treasurer also met with a tenant living in one of the Red Willow Estates townhomes. The Red Willow Estates, a 30-unit townhome community, also received SLFRF and benefitted from the Low-Income Housing Tax Credit. Built by an enterprise owned by the Winnebago Tribe of Nebraska, the new community includes Ojibwe-inspired landscapes and a raised-bed community garden area.
Finally, the Treasurer toured the Band’s Woodlands National Bank. Mille Lacs Tribal leaders explained that prior to having a bank in the community, a lack of access to capital and credit markets was creating economic disparities.
Under U.S. Secretary of the Treasury Janet L. Yellen’s leadership, the Department has significantly increased its engagement with Indian Country to strengthen relationships with Tribal governments. The Department has facilitated key investments under the Biden-Harris Administration in Tribal communities, including deploying $30 billion to support Tribes through various federal programs, including $20 billion through the SLFRF. Additionally, this month the Department released proposed rules for implementing the Tribal General Welfare Exclusion. The proposed rules demonstrate the value of the government-to-government dialogue Treasury has prioritized and an unprecedented recognition of Tribal self-determination and self-governance in tax regulations, as described in a recent op-ed by U.S. Deputy Secretary of the Treasury Wally Adeyemo.