Excerpt:
In all the debate about the pending federal aid package for cities and states, you’d think something so obvious would have been said often, but it hasn’t been: America cannot bail itself out.
Bailing the nation as whole out is exactly the idea behind the $350 billion package of federal aid proposed in the American Rescue Plan now pending in Congress. It would provide $220 billion to state governments and $130 billion to local governments.
The allocation is based on population – so far, at least, in the pending bill. For example, Illinois has about 3.9% of the nation’s population, so it would get about $13.6 billion of state and local money, which is about 3.9% of the $350 billion.
Author(s): Mark Glennon
Publication Date: 17 February 2021
Publication Site: Wirepoints