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COVID-19 relief bill estimated to cost taxpayers $1.8 trillion

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WASHINGTON (AP) — The massive coronavirus relief bill passed virtually unanimously by Congress last month is estimated at costing taxpayers $1.8 trillion — slightly less than was projected at the time by the White House.

That's according to the Congressional Budget Office, which says the difference is due to scorekeeping on $454 billion provided to back trillions of dollars in guaranteed loans by a Federal Reserve emergency lending facility, which won't have a deficit impact since the income and costs stemming from that lending are expected to offset each other.

The CBO report comes as Washington is manuevering over replenishing a popular “paycheck protection” program with another $250 billion.