Track the COVID Money
In response to the COVID-19 pandemic and economic crisis, policymakers have approved trillions of dollars of fiscal and monetary support. Use the table below to explore how those dollars have been allocated and disbursed or view this information through our interactive visualization.
Research and Analysis
COVID Relief
COVID Relief End Explains All of 2022 Deficit Decline
The budget deficit fell by half between Fiscal Year (FY) 2021 and FY 2022, from $2.8 trillion to $1.4 trillion. While the Biden Administration has tried to take credit for this "historic deficit reduction," we estimate that over 100 percent was the result of shrinking or expiring COVID relief. And while roughly 22 percent of the gross improvements come from changes in economic projections (more than offset by the cost of student debt cancellation), those economic changes will actually increase future deficits by over $1.5 trillion between 2023 and 2032.
COVID Offsets
It Should Be Easy to Offset Additional COVID Funds
The White House has made the case for additional funding to fight the COVID-19 pandemic – in particular to purchase vaccines, treatments, testing, and the global response efforts. However, the recently enacted Fiscal Year (FY) 2022 omnibus bill excluded $15.6 billion of pandemic funding after some Members objected to roughly $7 billion of offsets from clawing back 2 percent of the State and Local Fiscal Recovery Funds (the remaining costs were offset by repurposing other COVID relief).
COVID Money Tracker
Read More Posts- It Should Be Easy to Offset Additional COVID Funds (3/18/22)
- How Much Student Debt Has Already Been Cancelled? (3/17/22)
- Time to Wind Down Remaining COVID Relief (3/14/22)
- The 2021 U.S. Economy in Ten Charts (2/24/22)
- State and Local Governments Flush with Cash (11/3/21)
- It’s Time to Wind Down the Student Loan Moratorium (8/16/21)