How Does the American Rescue Plan Benefit Coloradans?

The American Rescue Plan

 

The American Rescue Plan is a COVID-19 relief package full of provisions to help American families, get children back in schools, help get shots in people’s arms, and get our economy back on track. 

 

Money in Pockets

4.7 million Coloradans (82%) will receive stimulus payments of up to $1,400 per person. Payments will be sent out to eligible Americans via direct deposit, debit card, or paper check. You can get a good sense of how much you will receive by using this calculator.

How to claim your payment: The vast majority of people do not need to take any action. Similar to past impact payments, the IRS will send your payment via direct deposit, debit card, or paper check.

You can check the status of your payment here.

The plan will also provide direct housing assistance and nutrition assistance for 40 million Americans, expand access to safe and reliable child care and affordable health care, extend unemployment insurance, and cut childhood poverty in half.

Beginning in July, working families in Colorado with kids will start receiving $250-$300 each month thanks to a massive expansion of the Child Tax Credit. If you qualify and are having trouble accessing your payment, contact our office.

 

Shots in Arms

The plan includes more than $160 billion in nationwide public health funding for vaccination distribution, testing, and contact tracing. This investment includes a national vaccination program that will set up community vaccination sites nationwide to address disparities facing communities of color.

Find more information about Colorado’s vaccination rollout, including your eligibility status, here.

 

Children Safely Back to School

The plan will make a nearly $130 billion investment in school re-opening and making up for lost learning, including $1.2 billion for Colorado K-12 schools to reopen safely.

The American Rescue Plan also provides resources for higher education, Head Start, and childcare facilities.

 

People in Jobs

The plan will provide crucial support for the hardest-hit small businesses, especially those owned by entrepreneurs from racial and ethnic backgrounds that have experienced systemic discrimination, and includes nearly $60 billion in grants and loans for small businesses, including a new $25 billion Restaurant Revitalization Fund. The plan also provides crucial resources to protect the jobs of first responders, teachers, transit workers, and other essential workers, whom all Americans depend on.

 

Extends Unemployment Benefits

The plan extends the federal supplemental unemployment benefit through September 6, while keeping the federal weekly add-on benefit at the current level of $300 per week.

The bill also extends both the Pandemic Unemployment Assistance (PUA) program and the Pandemic Emergency Unemployment Compensation (PEUC) program through September 6.

If you’re having issues filing or applying for federal unemployment, contact our office.

 

Housing Assistance

The plan provides $27.5 billion for emergency rental assistance, billions for the Homeowner Assistance fund, and $4.75 billion for state and local governments – through the HOME Investment Partnership program – to finance supportive services, affordable housing, and the acquisition of non-congregate shelter spaces for the hundreds of thousands of Americans experiencing homelessness during this pandemic.

To apply for emergency rental and utility assistance in Colorado, check out the Colorado Emergency Rental Assistance Program (ERAP).

Contact our office for additional housing assistance information.