WASHINGTON DC (May 29, 2020) — The Paycheck Protection Program is one of the larger and most well-known initiatives that has been created to support small businesses during the novel coronavirus outbreak. PPP was initially funded with $349 billion under the CARES Act and was reauthorized for a second round of funding totaling $310 billion under the Paycheck Protection Program and Health Care Enhancement Act (PPPHCEA).

WASHINGTON DC (May 15, 2020) — The fiscal and monetary policy response to the COVID-19 pandemic and subsequent economic crisis has been both swift and substantial. We have been tracking these support measures — in the form of spending, tax breaks, loans, and other actions — as part of our COVID Money Tracker initiative.

WASHINGTON DC (May 6, 2020) — The Department of the Treasury yesterday estimated that the second quarter of 2020 will see a record-breaking $3 trillion in borrowing, as the country continues to combat the coronavirus (COVID-19) pandemic and related economic downturn.

WASHINTON DC (April 24, 2020) — The novel coronavirus (COVID) pandemic and resulting economic crisis has been met with an unprecedented policy response.

WASHINGTON DC (April 23, 2020) — On April 22, the Social Security Trustees released their annual report, showing that Social Security faces a precarious and worsening financial situation — even before accounting for the current public health crisis.

WASHINGTON DC (April 22, 2020) — The Social Security and Medicare Trustees have released their reports on the financial state of their programs.

WASHINGTON DC (April 22, 2020) — The national debt has grown by more than $1 trillion over the past month, from $17.5 trillion on March 17th to $18.5 trillion on April 17th. Debt held by the public rose $293 billion in the last week alone. Below is a statement from Maya MacGuineas, president of the Committee for a Responsible Federal Budget:

"We entered the current Coronavirus crisis borrowing $1 trillion per year, but never thought we would be borrowing $1 trillion per month.

WASHINGTON DC (April 20, 2020) — Congress has already approved more than $2 trillion in fiscal measures to deal with the unprecedented economic and public health crisis caused by the coronavirus (COVID-19) pandemic, while the Federal Reserve has announced trillions of dollars in loans and other extraordinary measures, and it is extremely likely further action will be taken. To promote transparency and accountability, The Committee for a Responsible Federal Budget has launched the COVID Money

WASHINGTON DC (April 13, 2020) — The United States entered the current public health and economic crisis facing high levels of debt and trillion-dollar deficits.

WASHINGTON DC (April 10, 2020) — In response to the unprecedented economic crisis caused by the coronavirus (COVID-19) pandemic, lawmakers have enacted three pieces of legislation that will provide a combined $2.5 trillion of economic relief and support. Actions so far have mostly been timely, temporary, and reasonably well-targeted and tailored to the current crisis. However, discussions of a “phase IV” of economic relief appear to be far less focused.

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