Returning Unspent COVID Funds Act

Take back unspent COVID money

This bill would take back unused (unobligated) money from six major COVID relief laws. The laws include the American Rescue Plan Act of 2021; Division M or N of the Consolidated Appropriations Act, 2021; the Paycheck Protection Program and Health Care Enhancement Act; the CARES Act; the Families First Coronavirus Response Act; and the Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020. The takeback would be effective on the date of enactment. Money taken back would stay in the Treasury general fund only to reduce the federal deficit. The President could stop a takeback for a specific account or program by notifying the House Budget Committee and the Senate Finance Committee within 60 days of enactment. If enacted, this could reduce funds available to households, states, and businesses.