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What Is the American Rescue Plan Act of 2021?

covid
Doriti on Deposit Photos

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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