2021 economic stimulus
Note: This update is as of May 2021. We do our best to keep this updated, but things are constantly changing. Information needs to be verified before acting on it.
American Rescue Plan
The American Rescue Plan Act of 2021, the latest stimulus package to be considered by Congress during the COVID-19 pandemic, follows in the wake of the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020 and the nearly $900 billion stimulus included in the Consolidated Appropriations Act of 2021, passed in December 2020. The Act extends some aspects of those bills while also creating new recovery strategies.
The American Rescue Plan Act extends Pandemic Unemployment Assistance (PUA) benefits of $300 a week through September 6, 2021, and increases the total number of weeks available from 50 to 79. Federal Pandemic Unemployment Compensation (FPUC) benefits of $300 are also extended through September 6, 2021.
The legislation also provides:
- $21.55 billion for emergency rental assistance through September 30, 2027
- $5 billion in emergency housing vouchers through September 30, 2030
- $100 million for tribal housing improvements
- $100 million for rural housing through September 30, 2022
- $5 billion to assist people experiencing homelessness
The Restaurant Revitalization Fund, a new program for restaurants and bars, allocates $28.6 billion in pandemic assistance grants.4 The grants can provide up to $10 million per company with a limit of $5 million per physical location and be used to cover payroll, rent, utilities, and other expenses.
The Paycheck Protection Program (PPP) will receive an additional $7.25 billion, and more nonprofits will now be allowed to apply for forgivable loans to help cover payroll and other operating expenses. The PPP's application deadline was extended to May 31, 2021.
About $50 billion will pay for additional COVID-19 testing and contact tracing, and $7.66 billion will help increase the size of the public health workforce. About $16 billion will fund vaccine distribution and supply chains.