Additional relief could be on the way. Here’s what you can expect regarding President Joe Biden’s relief plan.
Being deemed as “the American Rescue Plan,” the bill passed 219-212 in the Democratically controlled House early Saturday. President Joe Biden’s $1.9 trillion COVID-19 relief package would provide millions of Americans $1,400 payments, ramp up vaccine distribution and extend unemployment aid through the summer.
What can be expected with this next round of relief efforts?
- Provide most Americans with another direct payment – this time for $1,400.
- Extend unemployment benefits through August (the current benefit ends in mid-March) and bump up the amount to $400 per week.
- Send $350 billion to state and local governments whose revenue has declined because of COVID-19 social distancing measures.
- Allocate $130 billion to help fully reopen schools and colleges
- Allot $30 billion to help renters and landlords weather economic losses.
- Set aside $50 billion for small-business assistance.
- Appropriate $160 billion for vaccine development, distribution and related needs.
What if I didn’t get receive the first or second round stimulus check?
If you qualify for a stimulus check and have not received it, or received the wrong amount, you may be eligible to claim a Recovery Rebate Credit when you file your 2020 tax return.
If you have an injury or illness that prevents you from working a full-time job, you could receive up to $3,148 per month in financial assistance from the Federal Government. To see how much you could qualify to receive, please complete this short 30 second form.