Topline Over the course of five relief bills, including the CARES Act and the new $900 billion package signed by President Trump on Sunday, the federal government has now authorized some $3.5 trillion in new legislative spending to shore up the economy during the ongoing coronavirus pandemic—that shakes out to an average of more than $10,000 per person for each of the 330 million people in the United States. Here’s how it all breaks down. The US Capitol building is seen on a cold and sunny winter day as Congress is in session in … [+] Washington on December 29, 2020. AFP via Getty Images Key Facts The CARES Act (worth about $2.1 trillion, according to the federal government’s Data Lab) was the biggest stimulus package in American history and accounts for about 60% of that $3.5 trillion total. The rest comes from the new $900 billion package, two smaller bills that passed before the CARES Act, and a $484 billion bill that re-upped the Paycheck Protection Program for small businesses after it exhausted its first round of CARES Act funding. Some $1.2 trillion of that legislative spending was earmarked for individuals—about $944 billion in the first four bills for direct payments (which went to 160 million people in the first round), expanded federal unemplo… Click below to read the full story from Forbes
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The U.S. Government Has Authorized More Than $10,000 Per Person In Stimulus Spending This Year
