After handwringing over legislation that would inevitably pass, the American people are finally getting a glimpse of what is inside the $1.9 trillion American Rescue Plan Act of 2021. The U.S. Senate will vote soon.
Within the bill, the country learns who the top beneficiaries are for the $350 billion COVID-19 bailouts for states, cities, and counties.
Among the states, according to Open The Books, here are the top recipients of funding:
- California: $42.283 billion
- Texas: $27.263 billion
- New York $23.538 billion
- Florida: $17.337 billion
- Illinois: $13.508 billion
- Pennsylvania: $13.498 billion
- Ohio: $11.006 billion
- Michigan: $10.103 billion
- New Jersey: $10.046 billion
Tribal Governments will also receive $20 billion.
Of course, there will be very little accountability. Over the years, the nation is going to find out that politicians wasted the funds and cronyist companies received top contracts. You know, par for the course.
JRATT says
The sad thing about it all. is we will be paying 38 billion in additional interest on the debt, each and every year going forward and that is at 2% if interest rates go up it will be even more, CRAZY politicians. In 30 years we will pay over 1 Trillion dollars in additional interest. How much inflation is this out of control spending by our government going to add in the next few years? All I know is that the $38,000 per year in retirement income that I have today, only buys what $18,000 bought 30 years ago. Or, that to buy what $1 million dollars bought when I graduated high school in 1974, you would need 5.6 million dollars today. Modern Money Theory is not working out for the average American.
joe1cr says
Pelosi and Schumer taking care of their states with billions in bailout money to be paid back by taxpayers in other states.