“even if you think substantial additional funding is strictly necessary for rapid reopening, there’s a problem: The vast majority of the relief plan’s money for schools wouldn’t be spent in the current fiscal year, or even next year. Previous coronavirus relief and congressional spending bills have already included more than $100 billion in funding for schools. But according to the Congressional Budget Office, “most of those funds remain to be spent.”
As a result, just $6 billion would be spent in the 2021 fiscal year, which runs through September. Another $32 billion would be spent in 2022, and the rest by 2028.”
…
“Biden and his communications team raise the issue of food insecurity—then insist that checks should go to a two-earner family with stable jobs making $120,000 a year in a city with a roughly $40,000 annual median income for couples.
This is despite the fact that the average couple with comparable six-figure earnings has experienced no unusual job loss and has piled up record levels of personal savings.”
…
“Biden’s plan calls for $350 billion to backstop state budgets, which were projected to be down as much as 8 percent overall this year. Yet according to The Wall Street Journal, total revenues were down just 1.6 percent for the 2020 fiscal year, and 18 states ended the year with above-projection revenue. As Reason‘s Christian Britschgi noted last week, Biden’s plan would disburse money to every state—including California, which is set for a $15 billion surplus. Previous coronavirus relief bills, meanwhile, have already doled out $300 billion to bolster state budgets. The billions in extra funding Biden’s plan would deliver to soaring state budgets would, in all likelihood, not be spent this coming year.”