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 https://www.cms.gov/newsroom/fact-sheets/american-rescue-plan-and-marketplace?utm_campaign=hcgov_ab&utm_content=english&utm_medium=email&utm_source=govdelivery