Author Matt Weidinger of RealClearPolicy
Shortly before the holidays, state legislators began to discuss ways to promote epidemics. General Manager Steny Hoyer (D-MD) he said The Biden government is “preparing to ask Congress to provide additional funding” to address the COVID-19 epidemic that is taking place nationally and internationally. “
Hoyer hopes the new funding will focus on “testing, vaccination” and “ensuring that schools have the resources to be safe.”
If all else sounds familiar, it should be, as legislators have already allocated hundreds of billions of dollars for the same purposes. Investigators last fall began asking Where did all the plague money go? Good question.
Senators Roy Blunt (R-MO) and Richard Burr (R-NC) only he asked Education Secretary Miguel Cardona on a $ 266 billion loss in funding for epidemics education, shows that $ 191 billion remained unspent. The same goes for COVID testing.
As recently op said, “the country needs a COVID test for even $ 79 billion – more than the total GDP of Kenya – was allocated to create and distribute such tests. It should be noted, it should be noted, that the nominee Joe Biden has put it at the heart of his promise to ‘shut down the virus’ by 2020. “
But the money already paid is not the only thing politicians have come up with in recent months. For example, Democrats have it argued For months the fact that their Build Back Better program of $ 1 trillion is needed to stop the end of the tax-paying period for over 30 million households.
Some have even claimed that without this law, the entire tax system would be ruined. But no explanation is forthcoming, as millions of families are about to repay the huge sums of money in the coming months under the current regulations – without further restrictions.
Support the Word of Self-Control!
Sign in to receive the latest news Political news, news, and comments are delivered directly to your inbox.
The March 2021 American Rescue Plan increased the profits from $ 2,000 to $ 3,000 for older children and $ 3,600 for young people, increased eligibility for full pay for unemployed parents or federal tax credit, and began monthly payments.
Monthly payments expired in December, but this still leaves a significant amount of profit, as half of the temporary increase in profits will be paid. families will submit their 2021 tax. As a result, millions of parents are about to receive $ 1,800 per child on a single income.
But you may not know that they are the latest headlines that, if the monthly payment expires, a the whole program he would close. As of December Price CNBC The headline succinctly states: “Children’s Tax Funds will be dissolved as long as Build Back Better is provided.” This completely ignores the second half of the growth that is about to be paid for millions of families.
How much will it cost? Even without reading $ 93 billion already paid, $ 130 billion to come will exceed the annual record. And millions more recipients than ever before will receive the full benefits – for the short-term terms of the Democrats eliminated long-term working interest rates and job incentives to collect these benefits.
Under previous laws, unemployed parents would not receive checks, and part-time employees would only receive a few benefits.
These continuous payments to parents who do not have a federal tax debt are so good that they have changed the nature of the program. Coming of full pay in 2021 for unemployed parents he revived a life of futility as we found out and transformed the IRS into an American one directing a relief organization.
But as those who are now neglecting the unused epidemic education or medical bills, those who mistakenly think that the child loan program is about to end decided to ignore it all. Instead, these benefits will increase in the coming months – even without further ado.
And this will enhance the long-standing reputation of the town in terms of spending more money, as well as less memory and embarrassment.
Integrated with permission from RealClearWire.
Matt Weidinger and Rowe Fellow in poverty education at the American Enterprise Institute.
Suggestions provided by sponsors and / or affiliates are their own and do not reflect the views of The Political Insider.