Biden Passes the American Relief Act – What that Means for Your Healthcare and Your Wallet

American Relief Act Passes

On March 11, 2021 Biden passed the American Relief Act at a price tag of $1.9 trillion.

The highlights:

  • $1,400 direct checks for Americans earning up to $75,000 ($150,000 for couples), phasing out at $80,000 ($160,000 for couples)
  • Extends the $300/week boost to unemployment benefits through August
  • $350 billion to state and local governments
  • $160 billion for vaccine development & distribution
  • $130 billion to help reopen K-12 school and colleges
  • $30 billion to help renters and landlords
  • $50 billion for small businesses
  • Raises child tax credit to up to $3,600 per child

Additionally, it will increase subsidies for health insurance up to $85 per month per person for those eligible starting April 1. ​you can update your marketplace application to realize the savings or it will be reconciled at tax time. Read more about that

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