The American Rescue Plan Act of 2021, also called the COVID-19 Stimulus Package, is a $1.9 trillion economic stimulus bill passed by the 117th United States Congress and signed into law by President Joe Biden on March 11, 2021. This act was passed to speed up the United States’ recovery from the economic and health effects of the COVID-19 pandemic and the ongoing recession. This legislation was first proposed on January 14, 2021, the package builds upon many of the measures in the CARES Act from March and in the Consolidated Appropriations Act, 2021, from December.

Learning Objectives

At the end of this course, students will be able to:

• Identify the amount provided via direct deposit for individuals
• Distinguish the FPUC benefit amount
• Identify the age of eligibility for the childless Earned Income Tax Credit (EITC)
• Identify the increased maximum amount for Child Tax Credit
• Distinguish the maximum amount of employees businesses may employ to remain eligible for the Paycheck Protection Program (PPP)
• Identify the amount of funds allocated for restaurants, bars, and other eligible providers of food and drink
• Identify the amount of funds provided for the Veterans Health Administration (VA) to provide healthcare services and related support to eligible veterans
• Identify the core components of the Interim Final Ruling (IFR) announced by the Treasury in January of 2022