$50 Billion Unspent COVID Funds Belong To American Taxpayers, Kevin McCarthy Says!

An estimated $50-$60 billion in unspent COVID funds should be reclaimed and returned to the American taxpayers, House Speaker Kevin McCarthy said, Daily Caller reported.

$50 Billion Unspent COVID Funds Belong To American Taxpayers, Kevin McCarthy Says. (PHOTO: The New York Times)

Unspent COVID Funds Belongs to the Americans

On May 10, while Kevin McCarthy speaks with reporters inside the U.S. Capitol, he suggested that since the pandemic is officially over, the unspent COVID funds should be returned to the taxpayers of America.

Kevin McCarthy declared during the interview that they had to use the funds for two years and now the pandemic is over there are still approximately $50 billion unspent COVID funds that are for the pandemic. The fund is just sitting dormant, he added.

According to New York Times, McCarthy argued that the Americans are now tired of politicians who use COVID as an excuse for extreme inflationary spending. If the funds was authorized to be used during the pandemic, and was not spent during the pandemic, should not be spent after the pandemic.

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Unspent COVID Funds

New York Times reported that budget analysts had already accounted that a portion of money from taxpayer taken for the pandemic would not be likely be spent fot pandemic-related programs, and detractors state that $50-70 billion would do little to bend the $1.5 trillion federal deficit.

Overall, Kevin McCarthy said that an estimated $50-60 billion in unspent COVID funds should be returned and reclaimed to American taxpayers. It is up to the Treasury Department on how they will utilize these unspent COVID funds.

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