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What's New in COVID Money Tracker? | Committee for a Responsible Federal Budget


Legislative Updates
The total amount authorized from legislation remains roughly constant at about $4 trillion, despite the increase in net COVID relief from $2.7 to $3.4 trillion. On the one hand, the end-of-year Response & Relief Act allowed roughly $940 billion of additional fiscal support. On the other hand, it rescinded about $430 billion in Treasury support for Federal Reserve facilities and nearly $150 billion in funding for the previous iterations of the Paycheck Protection Program and other small business support programs. 
Additionally, we revised down our estimates of the employee retention credit, Families First paid sick leave credit, employer-side Social Security tax deferral, and net operating loss (NOL) limit changes in light of new tax data. These benefits were used much less than originally anticipated by the Joint Committee on Taxation and others. ....

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