Effects of Selected Federal Pandemic Response Programs on Federal Government Receipts and Expenditures (PDF)

Release Date: January 28, 2021

Effects of Selected Federal Pandemic Response Programs on Federal Government Receipts, Expenditures, and Saving, 2020Q4 Advance

(Billions of dollars, seasonally adjusted at annual rates)

Line					Levels						Change from preceding quarter
	2019				2020			2019		2020
		Q3		Q4	Q1		Q2		Q3	Q4 *	Q4	Q1	Q2		Q3	Q4
1	Current receipts	3,702.4		3,763.7	3,753.1		3,468.8		3,688.2	...........	61.3	-10.7	-284.2		219.4	...........
2	Current tax receipts	2,117.7		2,177.1	2,150.0		1,929.7		2,066.4	...........	59.4	-27.1	-220.3		136.7	...........
3	Personal current taxes	1,713.2		1,740.2	1,756.6		1,600.1		1,687.4	1,710.3	27.0	16.3	-156.4		87.3	22.9
4	Taxes on production and imports	175.1		179.2	183.8		131.4		144.7	151.3	4.2	4.6	-52.4		13.3	6.6
	Of which:
5	Aviation tax holiday 1	...		...	-3.5		-19.4		-19.4	-19.4	...	-3.5	-15.9		0.0	0.0
6	Taxes on corporate income	201.6		229.7	180.5		171.5		207.0	...........	28.2	-49.2	-9.0		35.5	...........
7	Taxes from the rest of the world	27.9		27.9	29.1		26.6		27.3	29.0	0.0	1.2	-2.5		0.7	1.7
8	Contributions for government social insurance	1,402.3		1,416.9	1,436.4		1,374.2		1,435.4	1,456.9	14.6	19.5	-62.2		61.2	21.6
9	Income receipts on assets	101.6		111.2	112.8		107.4		127.7	117.6	9.6	1.6	-5.4		20.2	-10.1
10	Interest receipts	39.5		40.1	35.8		16.6		16.1	16.1	0.7	-4.4	-19.2		-0.5	0.0
	Of which:
11	Student loan forbearance 2	...		...	-7.1		-36.0		-36.0	-36.0	...	-7.1	-28.9		0.0	0.0
12	Dividends	53.6		62.6	68.6		85.7		107.1	97.1	9.0	6.0	17.1		21.5	-10.1
13	Rents and royalties	8.5		8.4	8.4		5.2		4.4	4.5	-0.1	0.0	-3.2		-0.7	0.0
14	Current transfer receipts	82.9		60.5	54.8		57.9		58.5	66.0	-22.3	-5.7	3.1		0.6	7.5
15	From business	46.3		27.3	28.9		29.8		34.3	39.4	-18.9	1.6	0.9		4.5	5.2
16	From persons	27.3		27.2	22.9		22.6		22.5	22.5	-0.2	-4.3	-0.3		-0.1	0.0
17	From the rest of the world	9.3		6.0	3.0		5.5		1.7	4.1	-3.2	-3.0	2.5		-3.8	2.4
18	Current surplus of government enterprises	-2.1		-2.0	-1.0		-0.4		0.3	-0.1	0.1	1.0	0.6		0.7	-0.4
19	Current expenditures	4,786.4		4,818.6	4,903.9		9,107.1		7,205.6	6,033.7	32.2	85.3	4,203.2		-1,901.4	-1,172.0
20	Consumption expenditures	1,104.6		1,113.7	1,118.0		1,168.1		1,141.0	1,143.5	9.1	4.3	50.1		-27.2	2.5
	Of which:
21	Paycheck Protection Program lender processing fees 3	...		...	...		60.3		12.8	0.0	...	...	60.3		-47.5	-12.9
22	Current transfer payments	3,016.5		3,039.9	3,129.7		6,293.9		4,305.3	3,741.8	23.3	89.9	3,164.2		-1,988.6	-563.5
23	Government social benefits	2,355.7		2,372.1	2,447.4		4,849.4		3,523.0	2,953.1	16.4	75.3	2,401.9		-1,326.4	-569.9
24	To persons	2,331.4		2,347.7	2,422.5		4,815.3		3,494.9	2,925.1	16.3	74.8	2,392.7		-1,320.4	-569.8
	Of which:
25	Economic impact payments 4	...		...	...		1,078.1		15.6	5.0	...	...	1,078.1		-1,062.5	-10.5
26	Expansion of unemployment programs 5	...		...	...		788.0		556.2	203.9	...	...	788.0		-231.8	-352.3
27	Increase in Medicare reimbursement rates 6	...		...	...		9.7		14.8	15.1	...	...	9.7		5.1	0.3
28	Lost wages supplemental payments 7	...		...	...		...		106.2	35.9	...	...	...		106.2	-70.4
29	Paycheck Protection Program loans to NPISH 3	...		...	...		19.1		27.0	10.8	...	...	19.1		7.9	-16.2
30	Provider Relief Fund to NPISH 8	...		...	...		160.9		58.4	34.5	...	...	160.9		-102.5	-24.0
31	To the rest of the world	24.3		24.4	24.9		34.1		28.1	28.1	0.1	0.5	9.2		-6.0	0.0
	Of which:
32	Economic impact payments 4	...		...	...		4.9		0.1	0.0	...	...	4.9		-4.8	0.0
33	Other current transfer payments	660.8		667.7	682.3		1,444.6		782.3	788.7	6.9	14.5	762.3		-662.3	6.4
34	Grants-in-aid to state and local governments	610.3		615.4	627.8		1,396.9		728.2	738.1	5.1	12.4	769.1		-668.7	10.0
	Of which:
35	Coronavirus Relief Fund 9	...		...	...		597.9		0.0	0.0	...	...	597.9		-597.9	0.0
36	Education Stabilization Fund 10	...		...	...		28.4		15.8	15.2	...	...	28.4		-12.6	-0.6
37	Provider Relief Fund 8	...		...	...		64.4		23.4	13.8	...	...	64.4		-41.0	-9.6
38	To the rest of the world	50.5		52.3	54.5		47.7		54.1	50.5	1.9	2.1	-6.8		6.4	-3.6
39	Interest payments	583.9		584.5	581.7		559.1		546.5	538.5	0.6	-2.8	-22.6		-12.6	-8.1
40	Subsidies	81.4		80.5	74.5		1,085.9		1,212.9	609.9	-0.9	-6.1	1,011.5		126.9	-602.9
	Of which:
41	Coronavirus Food Assistance Program 11	...		...	...		16.9		18.4	46.2	...	...	16.9		1.6	27.8
42	Employee Retention Tax Credit	...		...	...		73.3		73.3	73.3	...	...	73.3		0.0	0.0
43	Grants to air carriers	...		...	...		63.8		15.0	0.1	...	...	63.8		-48.8	-14.9
44	Paycheck Protection Program loans to businesses 3	...		...	...		609.3		865.6	260.3	...	...	609.3		256.3	-605.3
45	Corporate business	...		...	...		393.7		559.3	168.2	...	...	393.7		165.6	-391.1
46	Sole proprietorships and partnerships	...		...	...		215.6		306.2	92.1	...	...	215.6		90.7	-214.2
47	Farm	...		...	...		6.5		9.2	2.8	...	...	6.5		2.7	-6.4
48	Nonfarm	...		...	...		209.1		297.1	89.3	...	...	209.1		88.0	-207.7
49	Provider Relief Fund 8	...		...	...		96.6		35.1	20.7	...	...	96.6		-61.5	-14.4
50	Support for public transit agencies 12	...		...	...		22.0		0.0	0.0	...	...	22.0		-22.0	0.0
51	Tax credits to fund paid sick leave	...		...	...		140.0		140.0	140.0	...	...	140.0		0.0	0.0
52	Net federal government saving	-1,084.1		-1,054.9	-1,150.8		-5,638.3		-3,517.4	...........	29.2	-95.9	-4,487.5		2,120.8	...........
CARES	-Coronavirus Aid, Relief, and Economic Security
NPISH	-Nonprofit institutions serving households

* Taxes on corporate income are not published in advance or second fourth-quarter estimates.

1. Certain aviation excise taxes were temporarily suspended by the CARES Act beginning on March 28, 2020.
2. Interest payments due on certain categories of federally-held student loans were initially suspended by the CARES Act. For more information, see "How does the federal response to the COVID-19pandemic affect BEA's estimate of personal interest payments?".
3. The Paycheck Protection Program, initially established by the CARES Act, provides forgivable loans to help small businesses and nonprofit institutions make payroll and cover other expenses. It also provides funding to reimburse private lending institutions for the costs of administering these loans. For more information, see"How does the Paycheck Protection Program impact the national income and product accounts (NIPAs)?".
4. Economic impact payments, initially established by the CARES Act, provide direct payments to individuals. For more information, see "How are federal economic impact payments to support individualsduring theCOVID-19pandemic recorded in the NIPAs?".
5. Unemployment insurance benefits were expanded through several programs that were initially established through the CARES Act. For more information, see "How will the expansion of unemploymentbenefits in response to theCOVID-19pandemic be recorded in the NIPAs?".
6. A two percent reduction in reimbursements paid to Medicare service providers that went into effect in 2013 was initially suspended by the CARES Act. The resulting increased reimbursement rates went into effect beginning on May 1, 2020.
7. The Federal Emergency Management Agency (FEMA) was authorized to make payments from the Disaster Relief Fund to supplement wages lost as a result of the COVID-19 pandemic.
8. The Department of Health and Human Services distributes money from the Provider Relief Fund to hospitals and health care providers on the front lines of the coronavirus response. This funding supports health care-related expenses or lost revenue attributable to COVID-19 and ensures uninsured Americans can get treatment for COVID-19. In the NIPAs, funds provided to nonprofit hospitals are recorded as social benefits.
9. The Coronavirus Relief Fund, initially established by the CARES Act, provides for payments to state, local, and tribal governments for necessary expenditures incurred due to the COVID-19 public health emergency.
10. The Education Stabilization Fund, initially established by the CARES Act, provides education support to states, schools, and institutes of higher education in response to coronavirus. Four grant programs were created through the CARES Act: Education Stabilization Fund Discretionary Grants; Governor's Emergency Education Relief Fund; Elementary and Secondary School Emergency Relief Fund; and Higher Education Emergency Relief Fund.
11. The Coronavirus Food Assistance Program, initially established by the CARES Act, provides direct support to farmers and ranchers where prices and market supply chains have been impacted by the COVID-19 pandemic.
12. The CARES Act provides $25 billion to transit agencies to help to prevent, prepare for and respond to the COVID-19 pandemic. In the NIPAs, public transit agencies are classified as state and local government enterprises.

NOTE: For national statistics detailing the amount of federal government receipts and expenditures, BEA publishes the total level at an annualized rate. BEA does this so that monthly estimates can be easily compared to quarterly estimates included in BEA's quarterly gross domestic product report, for example. To be consistent, the figures in this table also are annualized. For more information, see the FAQ"Why does BEA publish estimates at annual rates?" on BEA's website.

Data on this table will be superseded by updated estimates.

Source: U.S. Bureau of Economic Analysis

Release Date: January 28, 2021

Effects of Selected Federal Pandemic Response Programs on Federal Government Receipts, Expenditures, and Saving, 2020 Advance

(Billions of dollars)

Line				Levels					Change from preceding year
	2015	2016	2017		2018	2019	2020 *	2016	2017	2018	2019	2020
1	Current receipts	3,448.0	3,463.3	3,524.3		3,567.6	3,711.2	...........	15.3	61.0	43.3	143.5	...........
2	Current tax receipts	2,024.2	2,020.3	2,015.5		2,017.1	2,131.7	...........	-3.9	-4.8	1.6	114.6	...........
3	Personal current taxes	1,532.6	1,548.0	1,614.6		1,617.5	1,713.0	1,688.6	15.4	66.7	2.9	95.5	-24.4
4	Taxes on production and imports	140.3	136.4	130.9		162.8	173.7	152.8	-3.9	-5.5	31.8	10.9	-20.9
	Of which:
5	Aviation tax holiday 1	...	...	...		...	...	-15.4	...	...	...	...	-15.4
6	Taxes on corporate income	329.1	311.9	245.4		210.6	217.3	...........	-17.2	-66.5	-34.9	6.8	...........
7	Taxes from the rest of the world	22.2	24.1	24.5		26.3	27.7	28.0	1.9	0.5	1.7	1.4	0.3
8	Contributions for government social insurance	1,190.8	1,224.6	1,283.7		1,344.6	1,402.2	1,425.7	33.8	59.1	60.9	57.6	23.5
9	Income receipts on assets	160.2	140.2	139.1		122.7	111.3	116.4	-20.0	-1.1	-16.4	-11.3	5.0
10	Interest receipts	27.1	29.1	29.3		35.8	39.0	21.1	2.0	0.2	6.5	3.2	-17.9
	Of which:
11	Student loan forbearance 2	...	...	...		...	...	-28.8	...	...	...	...	-28.8
12	Dividends	126.4	106.3	103.7		79.0	63.8	89.6	-20.1	-2.6	-24.7	-15.2	25.8
13	Rents and royalties	6.7	4.8	6.1		7.8	8.5	5.6	-1.9	1.3	1.7	0.6	-2.8
14	Current transfer receipts	76.2	79.7	85.2		83.9	67.8	59.3	3.5	5.5	-1.2	-16.1	-8.5
15	From business	44.6	49.3	48.4		46.7	33.3	33.1	4.8	-0.9	-1.7	-13.4	-0.2
16	From persons	25.0	26.0	27.0		27.2	27.4	22.6	0.9	1.1	0.2	0.2	-4.8
17	From the rest of the world	6.6	4.4	9.7		10.0	7.2	3.6	-2.2	5.3	0.3	-2.9	-3.6
18	Current surplus of government enterprises	-3.2	-1.4	0.9		-0.6	-1.9	-0.3	1.8	2.3	-1.5	-1.3	1.6
19	Current expenditures	4,008.3	4,132.5	4,246.8		4,499.3	4,758.1	6,812.6	124.2	114.3	252.5	258.8	2,054.4
20	Consumption expenditures	954.2	966.6	985.1		1,043.5	1,097.3	1,142.6	12.5	18.5	58.4	53.8	45.4
	Of which:
21	Paycheck Protection Program lender processing fees 3	...	...	...		...	...	18.3	...	...	...	...	18.3
22	Current transfer payments	2,568.1	2,650.5	2,726.4		2,852.5	3,006.0	4,367.7	82.4	75.8	126.2	153.4	1,361.7
23	Government social benefits	1,990.3	2,045.5	2,120.6		2,218.5	2,347.5	3,443.2	55.2	75.1	97.9	129.0	1,095.8
24	To persons	1,969.9	2,024.5	2,098.8		2,195.7	2,323.5	3,414.4	54.7	74.2	96.9	127.8	1,091.0
	Of which:
25	Economic impact payments 4	...	...	...		...	...	274.7	...	...	...	...	274.7
26	Expansion of unemployment programs 5	...	...	...		...	...	387.0	...	...	...	...	387.0
27	Increase in Medicare reimbursement rates 6	...	...	...		...	...	9.9	...	...	...	...	9.9
28	Lost wages supplemental payments 7	...	...	...		...	...	35.5	...	...	...	...	35.5
29	Paycheck Protection Program loans to NPISH 3	...	...	...		...	...	14.2	...	...	...	...	14.2
30	Provider Relief Fund to NPISH 8	...	...	...		...	...	63.8	...	...	...	...	63.8
31	To the rest of the world	20.4	20.9	21.8		22.8	24.0	28.8	0.5	0.9	1.0	1.2	4.8
	Of which:
32	Economic impact payments 4	...	...	...		...	...	1.2	...	...	...	...	1.2
33	Other current transfer payments	577.9	605.0	605.8		634.0	658.5	924.4	27.2	0.7	28.2	24.5	266.0
34	Grants-in-aid to state and local governments	533.1	556.8	559.8		582.6	608.1	872.8	23.7	3.0	22.8	25.6	264.6
	Of which:
35	Coronavirus Relief Fund 9	...	...	...		...	...	149.5	...	...	...	...	149.5
36	Education Stabilization Fund 10	...	...	...		...	...	14.9	...	...	...	...	14.9
37	Provider Relief Fund 8	...	...	...		...	...	25.4	...	...	...	...	25.4
38	To the rest of the world	44.8	48.2	46.0		51.5	50.4	51.7	3.5	-2.2	5.4	-1.1	1.3
39	Interest payments	429.3	454.1	475.9		540.5	581.6	556.4	24.8	21.9	64.6	41.1	-25.2
40	Subsidies	56.7	61.2	59.3		62.7	73.3	745.8	4.5	-1.9	3.4	10.5	672.5
	Of which:
41	Coronavirus Food Assistance Program 11	...	...	...		...	...	20.4	...	...	...	...	20.4
42	Employee Retention Tax Credit	...	...	...		...	...	55.0	...	...	...	...	55.0
43	Grants to air carriers	...	...	...		...	...	19.7	...	...	...	...	19.7
44	Paycheck Protection Program loans to businesses 3	...	...	...		...	...	433.8	...	...	...	...	433.8
45	Corporate business	...	...	...		...	...	280.3	...	...	...	...	280.3
46	Sole proprietorships and partnerships	...	...	...		...	...	153.5	...	...	...	...	153.5
47	Farm	...	...	...		...	...	4.6	...	...	...	...	4.6
48	Nonfarm	...	...	...		...	...	148.9	...	...	...	...	148.9
49	Provider Relief Fund 8	...	...	...		...	...	38.1	...	...	...	...	38.1
50	Support for public transit agencies 12	...	...	...		...	...	5.5	...	...	...	...	5.5
51	Tax credits to fund paid sick leave	...	...	...		...	...	105.0	...	...	...	...	105.0
52	Net federal government saving	-560.2	-669.1	-722.4		-931.7	-1,047.0	...........	-108.9	-53.3	-209.3	-115.3	...........
CARES	-Coronavirus Aid, Relief, and Economic Security
NPISH	-Nonprofit institutions serving households

* Taxes on corporate income are not published in advance or second fourth-quarter estimates.

1. Certain aviation excise taxes were temporarily suspended by the CARES Act beginning on March 28, 2020.
2. Interest payments due on certain categories of federally-held student loans were initially suspended by the CARES Act. For more information, see "How does the federal response to the COVID-19pandemic affect BEA's estimate of personal interest payments?".
3. The Paycheck Protection Program, initially established by the CARES Act, provides forgivable loans to help small businesses and nonprofit institutions make payroll and cover other expenses. It also provides funding to reimburse private lending institutions for the costs of administering these loans. For more information, see"How does the Paycheck Protection Program impact the national income and product accounts (NIPAs)?".
4. Economic impact payments, initially established by the CARES Act, provide direct payments to individuals. For more information, see "How are federal economic impact payments to support individualsduring theCOVID-19pandemic recorded in the NIPAs?".
5. Unemployment insurance benefits were expanded through several programs that were initially established through the CARES Act. For more information, see "How will the expansion of unemploymentbenefits in response to theCOVID-19pandemic be recorded in the NIPAs?".
6. A two percent reduction in reimbursements paid to Medicare service providers that went into effect in 2013 was initially suspended by the CARES Act. The resulting increased reimbursement rates went into effect beginning on May 1, 2020.
7. The Federal Emergency Management Agency (FEMA) was authorized to make payments from the Disaster Relief Fund to supplement wages lost as a result of the COVID-19 pandemic.
8. The Department of Health and Human Services distributes money from the Provider Relief Fund to hospitals and health care providers on the front lines of the coronavirus response. This funding supports health care-related expenses or lost revenue attributable to COVID-19 and ensures uninsured Americans can get treatment for COVID-19. In the NIPAs, funds provided to nonprofit hospitals are recorded as social benefits.
9. The Coronavirus Relief Fund, initially established by the CARES Act, provides for payments to state, local, and tribal governments for necessary expenditures incurred due to the COVID-19 public health emergency.
10. The Education Stabilization Fund, initially established by the CARES Act, provides education support to states, schools, and institutes of higher education in response to coronavirus. Four grant programs were created through the CARES Act: Education Stabilization Fund Discretionary Grants; Governor's Emergency Education Relief Fund; Elementary and Secondary School Emergency Relief Fund; and Higher Education Emergency Relief Fund.
11. The Coronavirus Food Assistance Program, initially established by the CARES Act, provides direct support to farmers and ranchers where prices and market supply chains have been impacted by the COVID-19 pandemic.
12. The CARES Act provides $25 billion to transit agencies to help to prevent, prepare for and respond to the COVID-19 pandemic. In the NIPAs, public transit agencies are classified as state and local government enterprises.

NOTE: For national statistics detailing the amount of federal government receipts and expenditures, BEA publishes the total level at an annualized rate. BEA does this so that monthly estimates can be easily compared to quarterly estimates included in BEA's quarterly gross domestic product report, for example. To be consistent, the figures in this table also are annualized. For more information, see the FAQ"Why does BEA publish estimates at annual rates?" on BEA's website.

Data on this table will be superseded by updated estimates.

Source: U.S. Bureau of Economic Analysis