Cost estimates by the Congressional Budget Office—which Just Facts has documented and tallied in this spreadsheet—show that if the Democrat’s current Covid-19 relief bill becomes law, the total cost of all federal Covid-19 relief laws will amount to about $41,036 for every household in the United States.
As detailed in today’s Fact App question and answer:
The federal government has passed five laws to address the Covid-19 pandemic and the consequences of government-mandated lockdowns. According to data from the Congressional Budget Office, the first will cost $8 billion, the second $192 billion, the third $1.8 trillion, the fourth $483 billion, and the fifth $868 billion. If the Democrats’ current bill becomes law, CBO estimates it will cost another $1.9 trillion.
Combined, these laws will cost an average of $41,036 for every household in the United States. Because the federal government was running a deficit before it passed these laws, these costs will add to the national debt and be borne by future workers and taxpayers. This doesn’t include the repercussions of the Federal Reserve creating trillions of dollars in new money to purchase federal government debt and other financial assets.
James D. Agresti is the president of Just Facts and a policy advisor to The Heartland Institute.
