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The federal government has enacted four pieces of legislation that provide important relief to individuals and corporations that have been impacted by the COVID-19 pandemic.
“As lawmakers rightly continue to pursue policies that help our nation respond to the immediate health and economic crisis, voters are also showing increased concern about our deteriorating fiscal outlook,” said Michael A. Peterson, CEO of the Peterson Foundation.
Social Security is the largest single program in the federal budget and makes up approximately one quarter of total federal spending.
The statutory tax rate is the percentage imposed by law; the effective tax rate is the percentage of income actually paid by an individual or a company after taking into account tax breaks.
In June, the federal government spent $10.6 billion on SNAP — a 102 percent increase from the amount spent just three months before.
The outbreak of COVID-19 has become both a public health and an economic crisis. In particular, the closure of many businesses has resulted in an unprecedented surge in unemployment claims in the United States.
The coronavirus (COVID-19) pandemic has caused federal spending on Medicaid to rise sharply as millions of Americans seek benefits under the program.
The cost and quality of the U.S. healthcare system is one of the most prominent issues facing everyday Americans. It is a top policy concern for voters, a key indicator of economic efficiency, and a significant driver of the national debt.
The growing cost of prescription drugs presents a significant challenge to the quality and affordability of healthcare in the United States.