American Rescue Plan to provide relief payments to individuals and assist businesses, schools, etc.

A $1.9 trillion COVID-19 relief bill called the American Rescue Plan became law on March 11. The legislation authorizes:

  • A third round of economic-relief checks to individuals and families ($1,400 per person for individuals earning up to $75,000/year and couples earning up to $150,000/year);
  • An expanded child-tax credit;
  • Extended unemployment benefits;
  • Money to safely re-open schools and for summer programs to help kids catch up;
  • Increased funding for COVID-19 testing and the vaccine rollout;
  • Increased funding for state and local governments to prevent layoffs and service cuts;
  • 100% subsidy for laid-off workers to stay on their union health care plans;
  • Relief for multi-employer pension plans;
  • Relief for small businesses, particularly restaurants and bars.

Read more about what’s in the American Rescue Plan.