A trillion of anything is hard to fathom. It’s a million millions. Or a thousand billions.
Now double it.
This week, the House of Representatives is expected to pass the nearly $2 trillion COVID relief package and a signature from President Biden will make it law. The legislation will send money just about everywhere – to families struggling to get by, to states and cities where tax revenue has fallen, to restaurants and to the unemployed.
The White House is calling it the most progressive bill ever passed because it will also provide money for Obamacare premiums, tax credits for parents, money to fight hunger and funding for schools for years.
Republicans have called the bill “wasteful,” “bloated,” and a “slush fund.” None are expected to support it, which would make this the only pandemic relief package to pass without bipartisan support.
Major Garrett digs into the politics and process of passing the American Rescue Plan, and attempts to answer the titular question: $2 Trillion for what?