What might the price tag for the Coronavirus Aid, Relief and Economic Security (CARES) Act be? In a letter to the U.S. Senate Budget Committee, the Congressional Budget Office and the Joint Committee on Taxation estimated that the CARES Act will add more than $1.8 trillion to the federal deficit in the period of 2020-2030. The estimate included: a $988 billion rise in mandatory outlays; a $446 billion drop in revenues and more. This increase is less than $2 trillion in financial aid provided by the law, said the letter, “because some of that assistance is in the form of loan guarantees, which are not estimated to have a net effect on the budget.” Here’s the letter: https://bit.ly/3bsAflm
