Bill Overview
Title: PAID Act
Description: This bill rescinds specified unobligated funds that were provided by the American Rescue Plan Act of 2021, which was enacted to address the impact of COVID-19 on the economy, public health, state and local governments, individuals, and businesses. Specifically, the bill rescinds specified funds that were provided for state, territorial, local, and tribal governments; emergency rental assistance; the State Small Business Credit Initiative; Federal Transit Administration grants; the Coronavirus Capital Projects Fund; and global health activities and programs. The bill also requires the rescinded funds to be used for deficit reduction.
Sponsors: Rep. Carter, Earl L. "Buddy" [R-GA-1]
Target Audience
Population: People relying on funds from the American Rescue Plan Act for economic, health, and stability support
Estimated Size: 330000000
- The American Rescue Plan Act of 2021 provided financial assistance to various sectors in response to COVID-19.
- Rescinding funds from state, territorial, local, and tribal governments may impact their budgets and operations.
- Emergency rental assistance program cuts may affect individuals at risk of eviction or housing insecurity.
- State Small Business Credit Initiative helps small businesses get access to capital, so rescinding these funds could impact small businesses and their employees.
- Cuts to Federal Transit Administration grants may affect public transportation services and public transit users.
- Coronavirus Capital Projects Fund aimed at enabling capital projects to combat COVID-19, so rescinding these funds could impact ongoing projects.
- Global health activities and programs cut might affect international pandemic response and global health initiatives.
Reasoning
- The American Rescue Plan Act channels funds to various sectors, including local governments and emergency services, which directly impacts many people's daily lives.
- Rescinding funds as outlined in the PAID Act would affect individuals who benefit from housing assistance, small business programs, and public transportation funding.
- Some individuals will have high impacts like those relying heavily on rental assistance or working in sectors funded by the rescinded grants, whereas others may see little direct effect.
- The diversity of the American population, in terms of geographic, occupational and socioeconomic dimensions, means the impact of such policy changes will vary widely among different individuals.
Simulated Interviews
Public Transit Worker (New York, NY)
Age: 34 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 7/20
Statement of Opinion:
- I'm worried about the stability of public transit jobs if funding is cut.
- We need those funds to keep the trains running and safe.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 6 |
| Year 2 | 5 | 6 |
| Year 3 | 4 | 6 |
| Year 5 | 4 | 6 |
| Year 10 | 5 | 7 |
| Year 20 | 6 | 7 |
Small Business Owner (Houston, TX)
Age: 52 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 3.0 years
Commonness: 5/20
Statement of Opinion:
- The withdrawal of these funds feels like a setback for small businesses like mine.
- I was counting on that credit to expand my operations.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 4 | 5 |
| Year 2 | 4 | 6 |
| Year 3 | 3 | 7 |
| Year 5 | 3 | 7 |
| Year 10 | 5 | 8 |
| Year 20 | 6 | 8 |
Single Mother (Phoenix, AZ)
Age: 29 | Gender: female
Wellbeing Before Policy: 4
Duration of Impact: 10.0 years
Commonness: 4/20
Statement of Opinion:
- Losing rental assistance is terrifying. I don't know how I'll manage without it.
- This policy could push me towards eviction, and with a kid, that's not an option.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 3 | 4 |
| Year 2 | 2 | 5 |
| Year 3 | 2 | 5 |
| Year 5 | 3 | 6 |
| Year 10 | 4 | 7 |
| Year 20 | 6 | 8 |
Retired (Rural Montana)
Age: 65 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 1.0 years
Commonness: 6/20
Statement of Opinion:
- I don't feel like it will impact me too much directly.
- The government's deficit still feels like a very far away issue to me.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 7 |
| Year 2 | 6 | 7 |
| Year 3 | 6 | 8 |
| Year 5 | 7 | 8 |
| Year 10 | 7 | 8 |
| Year 20 | 7 | 8 |
Health Worker (Los Angeles, CA)
Age: 40 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 2.0 years
Commonness: 3/20
Statement of Opinion:
- Global health initiatives are important but hard to measure by personal impact.
- I'm concerned about our capacity to respond to international health crises.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 7 |
| Year 2 | 5 | 7 |
| Year 3 | 6 | 7 |
| Year 5 | 6 | 8 |
| Year 10 | 7 | 9 |
| Year 20 | 8 | 9 |
Community Organizer (Chicago, IL)
Age: 38 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 4.0 years
Commonness: 8/20
Statement of Opinion:
- I'm worried about the local governments losing funds needed to support our services.
- Many vulnerable people rely on these services - it's going to be challenging without these funds.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 6 |
| Year 2 | 4 | 6 |
| Year 3 | 4 | 7 |
| Year 5 | 5 | 7 |
| Year 10 | 5 | 7 |
| Year 20 | 6 | 8 |
Recent College Graduate (Seattle, WA)
Age: 23 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 1.5 years
Commonness: 8/20
Statement of Opinion:
- Any potential impact feels indirect, but I'm worried about my company's growth without these funds.
- It's not a huge concern but it's important for our future stability.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 5 | 7 |
| Year 3 | 5 | 7 |
| Year 5 | 6 | 8 |
| Year 10 | 6 | 8 |
| Year 20 | 7 | 9 |
Renting Property Owner (Miami, FL)
Age: 47 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 6/20
Statement of Opinion:
- I'm worried tenants will struggle without funding, affecting their ability to pay rent.
- Cash flow stability seems uncertain if they can't pay.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 7 |
| Year 2 | 5 | 7 |
| Year 3 | 4 | 8 |
| Year 5 | 5 | 8 |
| Year 10 | 6 | 9 |
| Year 20 | 7 | 9 |
Tech Industry Worker (San Francisco, CA)
Age: 31 | Gender: other
Wellbeing Before Policy: 8
Duration of Impact: 0.0 years
Commonness: 9/20
Statement of Opinion:
- Personally, this policy doesn't affect me much.
- I'm more focused on local issues and tech innovation.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 9 | 9 |
| Year 20 | 10 | 9 |
City Government Employee (Detroit, MI)
Age: 42 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 7.0 years
Commonness: 5/20
Statement of Opinion:
- I'm deeply concerned that city services will suffer, impacting my job and the community.
- These funds are vital for maintaining essential services in our city.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 4 | 5 |
| Year 2 | 3 | 6 |
| Year 3 | 3 | 6 |
| Year 5 | 4 | 7 |
| Year 10 | 5 | 8 |
| Year 20 | 6 | 8 |
Cost Estimates
Year 1: $0 (Low: $0, High: $0)
Year 2: $0 (Low: $0, High: $0)
Year 3: $0 (Low: $0, High: $0)
Year 5: $0 (Low: $0, High: $0)
Year 10: $0 (Low: $0, High: $0)
Year 100: $0 (Low: $0, High: $0)
Key Considerations
- The fiscal impact of rescinding these funds depends on their prior economic multipliers within respective programs.
- Shifting resources to deficit reduction presents an opportunity cost in terms of foregone benefits from planned COVID-19 response measures.