American Rescue Plan | One Year Later
On March 11, 2021, President Biden signed the American Rescue Plan, one of the most consequential pieces of legislation in recent memory, into law. The American Rescue Plan:
Got Shots in Arms & Saved Lives: The President set up a historic vaccination program that resulted in more than 215 million Americans fully vaccinated this year: almost 75% of all adults. Millions of teenagers and children are now vaccinated, and tens of millions of Americans are getting booster shots.
Got People Back to Work: President Biden has grown the economy faster than in decades and added over 7 million jobs since he was sworn in. Economic growth is the strongest in two generations.
Week of March 11, 2021: 14.1%
Week of March 11, 2022: 74.1%
Minnesota Unemployment Rate:
March 2021: 3.7%
January 2022: 2.9%
653,000 families with 1,166,000 children in Minnesota benefited from $3,000 per child ages 6-17 years old and $3,600 per child under 6.
The American Rescue Plan tripled the EITC from $540 to $1,500, which put money back in the pockets of 288,000 workers across Minnesota.
Over 121,000 Minnesotans are enrolled in the Health Insurance Marketplace, an 8% increase over 2021. Those with a Marketplace plan are saving over $800 a year due to increased premium subsidies in the American Rescue Plan.
What’s in the American Rescue Plan?
DIRECT PAYMENTS TO 85% OF HOUSEHOLDS: ARP sent checks of up to $1400 per person to 85% of American households – the single largest direct payment to date. A low- or middle-income family of four got $5,600 in direct checks.
INVESTMENT IN VACCINE DISTRIBUTION: ARP allocated $20 billion for vaccine distribution, including $7.5 billion to set up vaccination sites across the country.
TENS OF BILLIONS OF DOLLARS FOR RENTERS, HOMEOWNERS: ARP extended tens of billions of dollars in rental and homeowners assistance that benefitted lower-income, disproportionately Black and Brown, renters and homeowners.
$39 BILLION FOR CHILD CARE PROVIDERS: ARP is helping working and middle-class families struggling to juggle child care and work by providing money to reopen schools safely and get vaccines in arms, so kids and teachers can safely return to school and parents can go back to work. This includes the most significant investment in American child care since World War II.
66 MILLION KIDS BENEFITTED FROM CHILD TAX CREDIT: ARP lifted 11 million people out of poverty and cut child poverty in half through a historic expansion of the child tax credit that benefitted 66 million kids across our country.
EITC EXPANDED TO 17 MILLION WORKERS: ARP expanded the Earned Income Tax Credit to 17 million low-income workers.
HEALTH INSURANCE PREMIUMS LOWERED, 100% OF COBRA PREMIUMS COVERED FOR LAID-OFF WORKERS: The ARP significantly reduced health insurance premiums for millions of American families.
What Republicans Opposed:
Democrats sent $1,400 checks to Americans bearing the brunt of the crisis – not a single Republican joined them.
Democrats created a national vaccination program to get shots into people’s arms – not a single Republican joined them.
Democrats voted for aid for small businesses struggling to keep their doors open – not a single Republican joined them.
Democrats passed funding to keep educators on the payroll and to safely reopen schools – not a single Republican joined them.