50 Richest Towns Get $100 Million From Congress for Coronavirus “Bailout”
When do the phrases “richest places in America” and “COVID bailout” go together?
In the new $1.9 trillion American Rescue Plan Act of 2021 that President Joe Biden just signed into law.
Buried on page 220 of the 242-page bill is a $350 billion bailout for 50 states, tribal governments, U.S. territories, and more than 30,000 cities and counties.
Atherton, CA, in Silicon Valley’s backyard, listed as the wealthiest city in America with an average household income of $525,000, will receive $1.3 million.
Scarsdale, NY—the richest place on the East Coast, and second wealthiest in the nation—will receive $2 million in COVID “relief.”
Hillsborough, CA (thid richest), with a median home price of $5.8 million, gets $2.1 million from U.S. taxpayers.
The richest town in Texas, Highland Park (#7), with 9,000 residents and a median home price of $1.4 million (home to Dallas Cowboys’ owner, Jerry Jones, and the Bush family), gets $2 million.
Palm Beach, FL (#18) is not left out of Uncle Sam’s largess, getting $3.7 million.
Congress put very few restrictions on the funds, they just have to be distributed quickly (see page 228). Even Beverly Hills, CA is receiving $6.2 million.
Remember, it is your money.
Lookup your hometown on our interactive map. Just click a pin (state) and scroll down to lookup your community in the chart beneath the map.
The #WasteOfTheDay is presented by the forensic auditors at OpenTheBooks.com.