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
The President’s Budget Doesn’t Address National Debt, and Calls for Highest Defense Spending in History
For the second year in a row, the Trump Administration has submitted a budget that excludes key fiscal variables such as debt and deficit projections.
Tax Reform Alone May Not Be Enough to Stabilize the National Debt
A new report from the Tax Foundation breaks down the drivers of the fiscal imbalance and concludes that tax increases alone cannot solve the problem.
A Gas Tax Holiday Costs Billions, But Consumers See Only Marginal Savings
If the full savings from the gas tax holiday were passed on to consumers, the average licensed driver would only save approximately $8.90 per month.