“Helicopter Money”
“American Rescue Plan Act of 2021 – Impact on Central Iowa
Wednesday, April 14, at 4:30 PM
In 1969, Milton Friedman wrote: “Let us suppose now that one day a helicopter flies over this community and drops an additional $1,000 in bills from the sky, which is, of course, hastily collected by members of the community.”
The “American Rescue Plan Act of 2021” will essentially drop $1.88 trillion on us and our communities. The full bill can be found at:
https://www.congress.gov/bill/117th-congress/house-bill/1319/text
It appears that the helicopter is going to drop an estimated $95,060,000 on Polk County, $94,550,000 on Des Moines, and $9,340,000 on Ankeny. Other “drops” can be found at:
https://www.democrats.senate.gov/final-state-and-local-allocation-output-030821
Topics considered:
- How much is $1.88 Trillion?
- An overview of the Act
- How can counties, cities, and schools use the money?
- Things on which the money can NOT be used.
- Funding for mental health, transportation, etc.
- Dialog
Panelists:
- Alan Kemp, Executive Director, Iowa League of Cities
- Phil Jeneary, Government Relations Director, Iowa Association of School Boards
- Tom Cooley, Bureau Chief, Iowa Department of Education
