The Fiscal Times |

Newsletter

Nearly 70% of Coronavirus Relief Funds Have Been Spent or Committed

Congress has provided roughly $1.6 trillion in direct payments to assist individuals, businesses, hospitals, states and municipalities struggling during the coronavirus pandemic, and about 70% of the...
Divided Senate Confirms Trump-Appointed Coronavirus Relief Watchdog

The Senate voted along largely partisan Tuesday lines to confirm a White House lawyer nominated by President Trump to oversee the Treasury Department’s use of $500 billion in coronavirus recovery...
No More $1,200 Stimulus Checks, Says GOP

Democrats in the House are pushing for another massive relief bill with more than $3 trillion in additional spending, but Republicans have called for a pause to give lawmakers a chance to evaluate...

Chart of the Day: The Dire State of State Tax Revenues

Lucy Dadayan of the Urban-Brookings Tax Policy Center breaks down the good, the bad and the ugly of the fiscal crisis facing states as the coronavirus pandemic crushes revenues and raises costs. “...
A Third of Unemployment Benefits Haven’t Been Paid Out: Report

The U.S. Treasury paid out $146 billion in jobless benefits in the three months ending in May as tens of millions of Americans lost their jobs due to the coronavirus pandemic. Although the number is...
Private Equity Firms Getting More Than $1 Billion in Coronavirus Relief Funds

Medical-service businesses owned by deep-pocketed private equity firms including KKR, Apollo and Cerberus have received more than $1.5 billion in no-interest loans from federal programs designed to...
IRS Letting High-Income Tax Cheats Dodge Billions in Payments: Watchdog

The Internal Revenue Service is failing to crack down on hundreds of thousands of high-income people who owe billions of dollars in taxes, according to a new report by the agency’s government...
Coronavirus Will Cost US Economy Nearly $16 Trillion, CBO Says

The coronavirus pandemic will shrink U.S. economic output by $15.7 trillion over the next decade, or $7.9 trillion after adjusting for inflation, the Congressional Budget Office estimated on Monday...