The recently passed American Rescue Plan Act of 2021 (ARP) further extends several COVID-19 relief measures that were initially created in March 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and extended in the Consolidated Appropriations Act, 2021 (CAA). These extensions include the Paycheck Protection Program (PPP), Employee Retention Credit (for employers), and employer tax credits related to the Families First Coronavirus Response Act (FFCRA).
The ARP is estimated to inject nearly $1.9 trillion into the economy through a variety of relief measures.
The bill seeks to accomplish this through policies to combat the pandemic, stimulate the economy, and provide broader economic relief to Americans.
