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 One Big Beautiful Bill Act Is the Most Expensive Reconciliation Package in Recent History
This week, lawmakers in Congress approved reconciliation legislation that will add trillions of dollars to America’s already unsustainable fiscal trajectory
Lifting the Debt Ceiling Has Been Paired with Budget Reform in the Past
Earlier this year, the United States once again hit its debt ceiling, which is currently capped at $31.4 trillion.
Even with Economic Growth Factored in, OBBBA Would Increase Deficits
The small, positive fiscal impact from slightly higher economic growth is projected to be more than offset by increased federal interest costs.