Philip Duffy on three rounds of economic stimulus: "for every $1 received by individuals, $8 went to special interests"

Stimulus came in three waves: 

1. Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, is a $2.2 trillion economic stimulus bill passed by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020. The spending includes $300 billion in one-time cash payments to individual people who submit a tax return in America (with most single adults receiving $1,200 and families with children receiving more. 
2. Consolidated Appropriations Act, 2021 is a $2.3 trillion spending bill that combines $900 billion in stimulus relief for the COVID-19 pandemic in the United States with a $1.4 trillion omnibus spending bill for the 2021 federal fiscal year (combining 12 separate annual appropriations bills). The bill was passed by both houses of Congress on December 21, 2020, with large bipartisan majorities in support. The bill was the product of weeks of intense negotiations and compromise between Democrats and Republicans during the lame-duck session. After initially criticizing the bill, President Donald Trump signed it into law on December 27. Of the $900 billion in “stimulus rel;ief, the vast majority went to special interests while only $166 billion went for a $600 stimulus checks, for most Americans with an adjusted gross income lower than $75,000. 
3. American Rescue Plan Act of 2021, Public Law No. 117-2 (March 11, 2021), was a $1.9 trillion bill passed by the 117th United States Congress and signed into law by President Joe Biden on March 11, 2021. $1,400 direct payments to individuals was a part of this legislation. Of the $1.9 trillion, “more than $242 billion” was allocated for individual payments. 

Critics of the above analysis are likely to claim that the Consolidated Appropriations Act allocated $900 billion to stimulus relief for individuals, but delving deeper into those numbers reveals that only $166 billion went into stimulus checks for individuals and the remainder was allocated to special interests. Thus by combining the figures from the three acts it is clear that only $708 billion of the $6.4 trillion funds allocated found its way into the pockets of individuals as opposed to $5.692 trillion into the pockets of special interests. Stated simply, for every dollar received by individuals, 8 dollars were expended for special interests.

~ Philip Duffy, January 9, 2022

President Trump signs CARES Act
March 27, 2020