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What Is the American Rescue Plan Act of 2021?

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The American Rescue Plan Act of 2021 just passed the House and is on its way to President Biden. The $1.9 trillion plan touches on vaccines, education, small business and stimulus payments

According to NPR, both House Minority Leader Kevin McCarthy and Senate Minority Leader Mitch McConnell have labeled the bill a Democratic “wish list.” Senate approved 50-49 party-line vote. No GOP member of the House voted to pass the bill, but one Democrat crossed party lines.

You’ve probably heard about the $1,400 stimulus checks (for people making less than $75,000 annually and married couples making less than $150,000). But what else adds up to $1.9 trillion? It’s impossible to recount the entire plan as it’s about 600 pages long, but here are a few highlights — all data provided from NPR.

Where some of the funds are going:

  • $2 billion: buying and distributing various testing supplies and personal protective equipment
  • $4.5 billion: for the Low Income Home Energy Assistance Program to help people with heating and cooling
  • $7.25 billion: small-business loan program (PPP)
  • $7.5 billion: for the Center for Disease Control and Prevention (CDC) to track, administer and distribute COVID-19 vaccines
  • $25 billion: emergency rental assistance
  • $25 billion: to the Small Business Administration for a new grant program for “restaurants and other food and drinking establishments”
  • $39 billion: grants to higher education institutions
  • $46 billion: diagnosing and tracing coronavirus infections
  • $128 billion: to state educational agencies, with 90% allocated to local educational agencies

The bill also includes a higher tax credit for children and $300/week unemployment checks. What we don’t see in this plan is a $15 minimum wage, as this part got cut at the Senate. What do you think of the American Rescue Plan?

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