On March 11, 2021, President Joe Biden signed the “American Rescue Plan Act of 2021” (the “Act”) into law. The Act provides $1.9 trillion in funding, program changes, and tax policies aimed at mitigating the continuing effects of the COVID-19 pandemic.
Unlike past COVID-related stimulus packages, the Act focuses particularly on funding state and local governments, schools, and individuals, though it also contains relief for private companies, especially small businesses.
A link to the full legislative text can be found here; key portions of the Act are summarized in our Milbank Insights.
