Here are a few highlights of the Coronavirus Relief Bill called The American Rescue Plan, which was passed and signed into law on March 11, 2021.
- Aid to the unemployed was expanded by the federal government through the extension of $300-per-week unemployment benefits until September 6, 2021. This is on top of the amount a beneficiary is receiving from state unemployment insurance.
- The legislation also provides a direct payment of $1,400 for a single taxpayer, or $2,800 for a married couple. An individual who earns up to $75,000 and married couples earning up to $150,000 would get the full amount.
- Local governments will also benefit by receiving funds for costs incurred until the end of 2024 related to the coronavirus. The amount earmarked for this is $350 billion.
- Schools will also earn additional help for students in kindergarten through 12th grade. This will assist with modifications needed for students related to the virus. The amount here is $130 billion.
- The bill also provides $46 billion to expand testing, as well as distribution of the vaccine. In health care, the Affordable Care Act premiums would have financial assistance for those who qualify. There is also an incentive for states to expand Medicaid.
- Businesses, specifically restaurants and bars that have been hurt by the pandemic, would receive grants and assistance with payroll, rent, utilities and other expenses. This amount is $25 billion.
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