Some of the money will go to unemployment, Medicaid, the Payment Protection Program and other aid, which makes it difficult to redistribute funds to other programs.The Senate approved a $1.9 trillion coronavirus relief plan on Saturday, as Democrats muscled through a marathon debate - and overcame dissent from moderates within their own ranks - to move one step closer to delivering President Biden his first legislative victory.ĭemocrats voted to adopt the bill without any Republican support after a more than 24-hour, around-the-clock session, though it will now fall to the House to consider the sweeping package once again before it can become law and any of the aid can be dispersed. The funds yet to be spent were set aside for programs at a later time, according to the previous relief bills. "Just because there's money unspent doesn't mean there aren't still needs," Marc Goldwein, senior vice president and senior policy director for the CRFB, told Politico on Feb. That money, however, is not just sitting in a bank account without any designation. The CRFB estimates that 15% of the plan, or $300 billion, goes to "long-standing policy priorities that are not directly related to the current crisis." What about the $1 trillion of COVID relief that hasn't been spent yet?ĭuring the debates in both the House and Senate, a common Republican complaint about the bill was the claim that there's $1 trillion left over from the previous relief package passed during the Trump administration.Īccording to the COVID Money Tracker, there's approximately $1 trillion in legislative actions still unspent. The rest of the $1.9 trillion, however, doesn't go to waste. This includes money to distribute vaccines, conduct coronavirus testing, buy protective equipment and fund other assistance for tackling the virus. The bill has $110 billion going toward fighting the pandemic, according to the Committee for a Responsible Federal Budget. However, some officials criticize the bill by questioning everything other than money that goes directly into fighting the virus. "Lawmakers were trying to avoid doing too little, and on that, I think they have certainly succeeded and many households will see a significant income boost in 2021." "The bill provides funding for key public health support and for important programs, like enhanced unemployment insurance, to help people make ends meet as we head into an economic recovery," said Erica York, an economist at the Tax Foundation.
Both are important to help with the recovery of the economy. When Biden signed the bill Thursday, he said it'll give "people in this nation, working people, middle-class folks, people who built the country, a fighting chance." The plan focuses on economic relief for those affected by the pandemic, but it also provides funding for efforts to combat the virus itself. I keep hearing 90% of the bill has nothing to do with COVID. Low Income Home Energy Assistance Program Combined, they make up $888.65 billion or 47% of the $1.9 trillion. These benefits total approximately another $78 billion going to those in need.
Mortgage payment assistance ($10 billion).Emergency rental assistance ($30 billion).There are also other provisions in the bill that will go to those in need, such as: These provisions provide funds that go directly to qualified Americans and account for 43% of the $1.9 trillion plan. Expanding the child tax credit, child care tax credit and earned income tax credit ($143 billion).Extending enhanced unemployment ($246 billion).Sending out the $1,400 stimulus checks ($422 billion).Three of the priciest policies in the American Rescue Plan go directly to Americans, according to the Committee for a Responsible Federal Budget. How much are we really getting from Biden's plan? I hear only 9% of the $1.9 trillion bill is going to Americans.
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