Infographic: What’s in the American Rescue Plan?
Last Updated March 10, 2021
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
No Tax on Social Security Would Weaken Both Social Security and Medicare
Republicans in Congress are considering several new tax cuts that would reduce federal revenues by trillions of dollars over the next decade.
Here’s How No Tax on Overtime Would Affect Federal Revenues and Tax Fairness
Excluding overtime pay from federal taxes would meaningfully worsen the fiscal outlook, while most of the tax benefits would go to the top 20% of taxpayers.
No Taxes on Tips Would Drive Deficits Higher
Eliminating taxes on tips would increase deficits by at least $100 billion over 10 years. It could also could turn out to be a bad deal for many workers.