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TC.164
The baseline tax system would not allow credits for particular activities or targeted at specific groups. In contrast, the Coronavirus Aid, Relief, and Economic Security (CARES) Act provided rebates of $1,200 ($2,400 for married couples filing jointly) and $500 per child. The total rebate amount begins phasing out at adjusted gross income over $75,000 ($150,000 for married couples filing jointly, $112,500 for heads of household). This was followed by the Consolidated Appropriations Act which provided rebates of $600 per eligible taxpayer ($1,200 for married couples filing jointly) plus an additional $600 per child, with phase-out features similar to the CARES Act. The American Rescue Plan act provided another rebate credit of $1,400 ($2,800 for married couples filing jointly) and $1,400 per dependent in 2021. The phase out begins at the same thresholds as the CARES Act, but the full credit is phased out proportionately by $80,000 of AGI ($160,000 for married couples filing jointly, $120,000 for heads of household).
This chart shows obligations for the program by fiscal year. All data for this chart was provided by the
administering agency and sourced from SAM.gov, USASpending.gov, and Treasury.gov.
For more information on each of these data sources, please see the
About the data page.
OMB is working with the U.S. Government Accountability Office (GAO) and agency offices of inspectors general to include links to relevant oversight reports. This section will be updated once this information is made available.
