Friday, March 12, 2021
On March 11, 2021, President Joe Biden signed into law the American Rescue Plan Act of 2021 a $1.9 trillion economic relief package. While the legislation marks the first major legislative victory for President Biden and the administration, it is the sixth federal legislative relief package aimed at addressing the COVID-19 pandemic and its economic fallout. The legislation continues some programs established in these previous efforts, but it also adds some important components. Set forth below are some of the major provisions of the American Rescue Plan Act.
Direct Stimulus Payments
The legislation provides a third round of direct-payment stimulus checks to eligible recipients. Individuals with yearly adjusted gross incomes of $75,000 or less will receive checks in the amount of $1,400 (plus $1,400 for each eligible dependent). Those earning more than $75,000 will receive less than $1,400, and the benefit is completely phased out for individuals e
The Butch Lewis Emergency Pension Plan Relief Act of 2021 Becomes Law | Littler
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How the American Rescue Plan Act Will Help More Than a Million Retirees and Workers
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Provided by Dow Jones
By Andrew Duehren and Kristina Peterson WASHINGTON The House passed a $1.9 trillion coronavirus-relief bill and sent it to President Biden for his signature, with Democrats muscling an expansive round of new spending and antipoverty measures through Congress just as America begins to emerge from a year of pandemic-related shutdowns. The relief bill offers a $1,400 check to many Americans, an extension of a $300 weekly jobless-aid supplement, and a one-year expansion of the child tax credit that will provide periodic payments for many households. It also showers money on schools, vaccine distribution efforts and state and local governments, provides support to struggling multiemployer pensions, and makes the biggest changes to the Affordable Care Act since its passage in 2010, among other measures.