By Fran Dance, Charlotte Dems contributing writer
On March 11th, President Biden signed The American Rescue Plan Act of 2021 into law. This comprehensive COVID-19 relief bill strategically allocates funding, geared toward low-income and middle-class Americans, to encourage a robust economic recovery while creating a coordinated, national vaccination program to ensure we defeat this virus.
As we move forward, President Biden’s COVID-19 relief plan will promote an inclusive recovery by putting shots in arms, money in pockets, children in schools, and people in jobs.
Some major components of the legislation include:
- $1,400 economic stimulus payments for 158 million individuals
- $20 billion for a national vaccination and public health improvement program
- $10 billion for emergency mortgage payment assistance
- $300 weekly boost to unemployment insurance benefits through August
- $15 billion in low-interest loans for small businesses and expanded PPP funding
- Child Tax Credit expansion, cutting childhood poverty in half
- State Education Department funding, allowing schools to reopen quickly and safely
Because of the bold policy initiatives in The American Rescue Plan, the Congressional Budget Office now projects a full economic recovery in just 12 months!
Thanks to our Democratic-controlled Congress, Senate and White House, those in need are finally getting help, unlike 2017 when the Republicans passed tax relief for the rich and large businesses. At election time, remember that Senators Rubio, Scott and Representative Steube all voted against this relief.
Image Credits: https://www.ncsl.org/ncsl-in-dc/publications-and-resources/american-rescue-plan-act-of-2021.aspx
