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President Joe Biden recently signed a $1.9 trillion relief bill, called the American Rescue Plan. Highlights of the bill include direct checks to individuals, extended unemployment benefits, and more. Here is an overview of the plan:
|
Provisions |
American Rescue Plan |
|
Direct Economic Impact Payments |
Up to $1,400 for individuals, based on income Up to $2,800 for married couples Up to an additional $1,400 for each qualifying child, including eligible adult dependents |
|
Federal Unemployment Insurance |
$300/week through September 6 |
|
Aid for Small Businesses |
Around $50 billion, including:
|
|
Funding for Education |
Around $165 billion in funding for education, including $125 billion for K-12 schools |
|
Direct Aid to State and Local Governments |
$350 billion to states, local governments, tribes, and territories |
|
Housing Assistance (Rental) |
$22 billion in aid for emergency rental assistance, but no extension of eviction protections past the March 31 expiration. Also includes $10 billion in aid for mortgages, utilities, and property taxes, and $5 billion in aid to states to help those who are at risk of becoming homeless |
|
Direct Funding for COVID-19 Testing and Tracing, Vaccine Distribution, and Other Critical Health Care Needs |
Around $90 billion |
Download the bulletin for more details.
Additional Resource:
Infographic: Comparing the American Rescue Plan to Previous COVID-19 Relief Bills
This blog is intended to be a compilation of information and resources pulled from federal, state, and local agencies. This is not intended to be legal advice. For up to the minute information and guidance on COVID-19, please follow the guidelines of the Centers for Disease Control and Prevention (CDC) and your local health organizations.
National Insurance Services is not a law firm and no opinion, suggestion, or recommendation of the firm or its employees shall constitute legal advice. Readers are advised to consult with their own attorney for a determination of their legal rights, responsibilities and liabilities, including the interpretation of any statute or regulation, or its application to the readers’ business activities.
