House, Senate, and White House negotiators resumed discussions this week on COVID-19 relief legislation.  The House passed the “Heroes Act” (H.R.6800) on May 15th, while Senate Republicans introduced the “Heals Act” last week.  There are significant policy disagreements in multiple areas.  The table below outlines the estimated budgetary impact by major policy category, showing just how large some of those disagreements are based on the numbers alone.

Spending and Tax Relief Categories (in $ billions)

 

House Heroes Act

 

 Senate Heals Act
State, local government assistance        $ 945           —
Stimulus checks        $ 554        $ 300
Unemployment relief        $ 437        $ 110
Education / Student Loans        $ 266        $ 105
Homeowner and renter assistance        $ 219        $     3
Testing, tracing, hospitals, providers, vaccine        $ 194        $ 104
Heroes Fund        $ 190           —
Small business loans and grants        $   10        $ 158
Medicaid        $   81           —
Pensions        $   52           —
Nutrition        $   40           —
Agriculture        $   33        $   20
Transportation        $   31        $   10
Defense           —        $   30
Postal Service        $   25           —
Other Spending        $   58        $   43

 

SUBTOTAL: SPENDING

 

 

$ 3,135

 

$ 883
Stimulus (dependents, EITC, SALT)        $ 166           —
Workers (employee retention, COVID expenses)        $ 294        $ 210
Limitation on Net Operating Losses       ($ 254)           —
Private health plans (coverage, premium subsidies)        $ 100           —
Other        $     4           —

 

SUBTOTAL: TAXES

 

 

$ 310

 

$ 210

 

TOTAL

 

 

$ 3,445

 

$ 1,093

 

Sources: CBO estimate for H.R.6800, the Heroes Act, as Passed by the House of Representatives on May 15, 2020 (https://www.cbo.gov/system/files/2020-06/56383-HR6800.pdf); What’s in the HEALS Act? Committee for a Responsible Federal Budget, July 29, 2020 (http://www.crfb.org/blogs/whats-11-trillion-heals-act)