Based on the panel data of Sichuan Province from 1995 to 2006, using instrumental variables to evaluate the multiplier model of fiscal expenditure and the idea of quantile model, and finds that fiscal expenditure policy is not conducive to narrowing the regional economic development gap, that is, the higher the level of economic development, the better the effect of fiscal expenditure, because of its capital utilization ability, that is, the spillover effect of fiscal expenditure on investment, which leads to the negative impact Different growth rates of the secondary industry will eventually lead to different effects of fiscal expenditure. Understanding this is conducive to optimizing the function space of industrial policies for the development of fiscal products under the background of the new normal economy.