Across the country, millions of small businesses are struggling to keep their doors open. Here’s a breakdown of how the American Rescue Plan will help:
The American Rescue Plan allocates $15 billion in flexible grants to help the smallest, most severely impacted businesses persevere through the pandemic.
The bill provides $28 billion for a new grant program to support hard-hit small restaurants and other food and drinking establishments.
We’re going to bolster the Paycheck Protection Program with an additional $7.25 billion in funding to support small businesses and non-profits that were previously excluded.
Our Administration will invest $10 billion in successful state, local, and tribal small business financing programs to help small businesses innovate, create and maintain jobs, and provide the essential goods and services that communities depend on.
Altogether, the American Rescue Plan will invest over $60 billion in our small businesses to ensure they have the resources necessary to make it through this pandemic.
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President Biden’s American Rescue Plan is a bold, comprehensive legislative package that will provide direct relief to Americans, contain COVID-19, and rescue the economy. Check out the thread below for a breakdown of what’s in the bill.
1 in 3 households are struggling to pay for usual household expenses through no fault of their own. The American Rescue Plan will complete the $2,000 stimulus checks with direct $1,400 payments — delivering much-needed relief to people across the country.
If Congress fails to act, more than 11 million people will start to lose unemployment insurance benefits on March 14. The American Rescue Plan will extend and expand unemployment insurance and provide a weekly $400 supplement.