Question

Explain and compare the main fiscal policy response of the United State and Australia to the pandemic.

Answer 1

Answer: Let us Understand and compare the fiscal policy response of the United State and Australia to the pandemic :

Australia	United States of America
1.JobMaker program of 73 billion( Australian Dollars)	1. Unemployment benefits
2. Cut In income tax	2.Loan payment relief for students
3. Increase in Investment spending in Infrstructure	3. Help Renters & homeowners
4. Income & Cashflow support to Household & Businesses	4.US$321 billion for small buiness that retain workers in the form of loan & Guarantees.
5. For Boosting the construction sector (Homebuilder program)	5. For Hospitals -US$75 billion
6. For senior Citizens - Homecare Package	6. For Virus testing -US$25 billion
7. Free childcare (For 1 million Families)	7. Coronavirus Aid, Relief and Economy Security Act- US$2.3 trillion
8. Lump-sum Payment to workers for isolation period of 14 days	8.Coronavirus Preparedness and Response Supplemental Appropriations Act-US$8.3 billion
9. 15 billion dollar investment in Residential Securities( Mortgage & Asset Backed)	9.Families first Coronavirus response Act- US$192 billion
10. 14.3 billion dollars for health system	10. Delay in social secuirity tax collection