The $2 trillion stimulus package, broken down

COVID-19, In The NewsThe $2 trillion stimulus package, broken down

Budget & Tax, In The News,  | Quick Take
Mar 26, 2020  | 1 min read | Print Article

This article by Lisa Fletcher first appeared in WJLA on March 27, 2020

Two trillion dollars of taxpayer money, laid out in 880 pages.

“880 pages may sound like a lot, but it really doesn’t have a lot of detailed information about how the money is going to be spent,” said Steve Ellis, president of the non-partisan budget watchdog ‘Taxpayers for Common Sense.’ “We’ve always wanted these packages to have triggers in them so that you hit a certain benchmark and then more funds get released, rather than having just huge pots of cash.”

Like 50 billion for the airline industry.

Many Americans will see direct payments of $1200 per adult and $500 per child.tc

There’s billions in credit to industries like cruise lines, restaurants and hotels.

$350 billion is allocated for the paycheck protection program to provide 8 weeks of cash-flow assistance to small businesses who maintain their payroll.

And there are earmarks for less obvious recipients like the Smithsonian and Kennedy center.

“If you think about the Smithsonian particularly, that’s a lot of real estate to clean and to disinfect. And so that’s a lot of work to be done,” Ellis said. “So that those buildings can be safe for people to come and visit when the epidemic is over.”

One chunk of cash Ellis is keeping under close watch; a 454-billion dollar fund for a new lending agency – overseen by Treasury Secretary Steve Mnuchin for a wide array of subsidies.