The federal government will spend enough in COVID-19 stimulus to give every American taxpayer $41,000.
As COVID-19 and the lockdown-induced recession produced job loss and public health challenges, the federal government approved massive omnibus packages meant to stimulate the economy. Among these were the $2.2 trillion CARES Act, passed in March 2020; the $2.3 trillion HR 133, passed in December 2020; and the $1.9 trillion American Rescue Plan, passed in March 2021.
As the Committee for a Responsible Federal Budget’s COVID <a href="https://www.covidmoneytracker.org/">money tracker</a> shows, the federal government will distribute a total of $5.9 trillion through its legislative efforts alone. If these funds were disbursed among America’s 143.3 million <a href="https://taxfoundation.org/summary-of-the-latest-federal-income-tax-data-2020-update/">taxpayers</a>, each would have received roughly $41,000. If the funds were instead divided among every member of the population, every American would have received $18,000.
However, only a fraction of the spending was earmarked for American citizens. As Brad Polumbo of the <a href="https://fee.org/articles/federal-covid-spending-will-cost-41-870-per-taxpayer-did-you-see-that-much-in-benefit/">Foundation for Economic Education</a> notes:
<blockquote>The COVID spending bills have all lost huge sums of money to unrelated carve-outs, politician pet projects, corporate bailouts, fraud, waste, and worse.
In the latest $1.9 trillion package, more than 90 percent of the spending is not directly related to containing COVID-19. Only 1 percent of the money, about $15 to $20 billion, is spent on vaccines. Meanwhile, hundreds of billions go to bailing out poorly managed state governments’ budget holes that predate the pandemic and $86 billion rescues failing pension plans. Meanwhile, billions more go to Obamacare expansion and subsidizing public schools long after the pandemic. </blockquote>
Polumbo calculates that “only someone who fully collected expanded unemployment benefits throughout the pandemic and received all $3,200 in total of the stimulus payments” could have received more than $18,000 in benefits.
Applying the same calculation to President Biden’s two most recent legislative proposals — the $2.7 trillion <a href="https://www.dailywire.com/news/nonpartisan-economists-say-bidens-infrastructure-plan-will-decrease-economic-growth">American Jobs Plan</a> and the $1.8 trillion <a href="https://www.dailywire.com/news/bidens-american-families-plan-is-far-from-a-new-deal-economic-boon">American Families Plan</a> — reveals similar results. If funds were divided among all taxpayers, each would receive $31,400 — $18,840 from the former bill and $12,560 from the latter.
As detailed by the <a href="https://budgetmodel.wharton.upenn.edu/issues/2021/6/28/explainer-capital-crowd-out-effects-of-government-debt">Penn Wharton Budget Model</a> — an initiative of the University of Pennsylvania’s Wharton School that examines public policy proposals — extensive deficit spending from large federal programs is deeply harmful to long-term economic growth. The group’s simulation shows that with $1 trillion in deficit spending, output falls by 0.28% over the course of three decades, while debt rises by 2.53%. With $10 trillion in expenditures, output falls by 3.09% and government debt rises by 27.24%.
This reality is explained by the crowding out effect — a phenomenon by which the government’s demand for funds diverts money away from private business investments, which restricts entrepreneurship and innovation over time.

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With $6 Trillion In COVID Relief, The Government Could Have Given Every Taxpayer $41,000

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With $6 Trillion In COVID Relief, The Government Could Have Given Every Taxpayer $41,000