Sixth COVID-19 Relief Bill Signed into Law

March 11 President Joe Biden signed into law the American Rescue Plan Act (H.R.1319), a massive $1.9 trillion COVID-19 aid package passed using the budget reconciliation process in Congress. No Republicans in the House or Senate voted in favor of the legislation.

Notable provisions included in the broad relief bill are:

Direct stimulus payments up to $1,400 for individuals

Extension of pandemic unemployment programs ($300/week through 9/6/21)

Expansion of tax credits for families and for employers who offer paid leave

Funding assistance for state & local government aid and vaccine & testing programs

$7.25 billion for SBA’s Paycheck Protection Program (PPP) loans and $15 billion for Economic Injury Disaster (EIDL) loans

Creation of a fund for the Pension Benefit Guaranty Corporation to stabilize multiemployer pension plans in danger of insolvency

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