COVID-19 Federal Funds in Alabama Total $46B, Contribute to Big 2021 Tax Revenues
About $46.8 billion. Billion with a B. That’s how much federal COVID-19 relief money has gone to Alabama residents, businesses and government agencies since the pandemic began. About $30.3 billion of that has been given directly to individuals and businesses to assist them, Kirk Fulford, deputy director of the Legislative Services Agency, told state lawmakers recently. About $6.3 billion was in the Paycheck Protection Program, forgivable loans to help businesses weather the economic drought caused by COVID-related shutdowns. And nearly twice that much, $12.6 billion, has gone directly to individuals in stimulus checks. The money had a big impact on the state’s record tax receipts for fiscal 2021, which ended last week, Fulford said. That’s especially true in the Education Trust Fund, where sales and income tax are the main contributors. Read more.