Due to the coronavirus pandemic, Congress and President Trump enacted the $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES) on March 18, 2020, which the Committee for a Responsible Federal Budget estimated would be partially responsible for an increase of the budget deficit for fiscal year 2020 to a record $3.8 trillion, or 18.7% GDP. The CBO preliminary estimate for the fiscal year 2020 deficit is $3.1 trillion or 15.2% GDP, the largest since 1945 relative to the size of the economy.