Infographic: What’s in the American Rescue Plan?
Lawmakers have now passed a total of six major COVID relief bills at a cost of $5.3 trillion to help our nation cope with the devastating health and economic impacts of the pandemic. The latest bill, the American Rescue Plan, comes with a $1.9 trillion price tag, and includes everything from direct payments to certain taxpayers to aid for local governments. Below is a breakdown of the major programs and their funding levels.
Further Reading
Social Security’s Funding Gap is 1.3% of GDP — Here’s How We Can Close It
Social Security is an integral part of the nation’s fiscal picture and a vital economic lifeline for millions of recipients.
Should We Eliminate the Social Security Tax Cap?
There have been a number of proposals to increase, eliminate, or otherwise adjust the payroll tax cap as a way to shore up Social Security’s finances.
No Taxes on Tips Will Drive Deficits Higher
Here’s how this new, temporary deduction will affect federal revenues, budget deficits, and tax equity.