Defining Moment

2020

Modern America Era
Defining Moment
What Americans Were Trying To Do
What Americans Were Trying To Do

Respond to a public health and economic emergency with income support, loans, health spending, and fiscal relief.

What Happened
What Happened

The CARES Act and related measures used direct payments, unemployment supplements, business loans, health funding, grants, and borrowing to stabilize the economy during the COVID shock.

How Public Finance Made It Possible
How Public Finance Made It Possible

Public finance provided rapid emergency support when normal income and business activity were disrupted.

What This EnabledWhat This Enabled
Householdsworkersbusinesseshealth systems
How Americans BenefitedHow Americans Benefited
Householdsworkersbusinesseshealth systems

Tax Project Institute

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