Coronavirus assistance plan in the United States will cost 1.8 billion

The financial assistance plan that the United States Congress approved last month due to the coronavirus pandemic will cost taxpayers $ 1.8 trillion, less than the informal projection of $ 2.2 trillion made by the White House.

This according to the Office of Budgetary Affairs of Congress (CBO for its acronym in English), which ensures that the difference is due to the way in which $ 454,000 million were registered to support trillions of dollars in loans guaranteed by a credit mechanism of emergency of the Federal Reserve, which will not translate into deficits because it is presumed that the income and costs derived from those credits will offset each other.

The biggest impact on the federal deficit derived from the coronavirus assistance law will be evident in fiscal year 2020, which ends on September 30, where the law is expected to add 1.6 trillion to the negative balance.

It was already outlined that the 2020 deficit would exceed the trillion dollars and will surely exceed the previous mark of 1.4 trillion in the government of President Barack Obama after the Great Recession more than a decade ago.

The CARES law is by far the largest provider of funds for three laws that have been passed this year.

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