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Celebrating Three Years of Growth and Recovery Thanks to the American Rescue Plan

FOR IMMEDIATE RELEASE: March 11, 2024
PRESS CONTACT: [email protected]

CELEBRATING THREE YEARS OF GROWTH AND RECOVERY THANKS TO THE AMERICAN RESCUE PLAN

WASHINGTON, D.C. — Building Back Together Executive Director Mayra Macías released the following statement commemorating the three-year anniversary of the American Rescue Plan:

“When President Biden assumed office, our nation faced an unprecedented public health and economic crisis. The Biden-Harris Administration took swift action in response, enacting the American Rescue Plan to combat the challenges posed by COVID-19 and ensure our full economic recovery. As we commemorate the three-year anniversary of this pivotal legislation, the transformative impact it has had in communities across America cannot be overstated. Despite facing unanimous opposition from Republicans in Congress, the American Rescue Plan empowered the Biden-Harris Administration to supercharge recovery efforts, directly support American businesses, workers and families, and facilitate a safe return to work and school for all Americans. Moreover, the American Rescue Plan enabled local governments to use the funds to best serve their communities, spurring innovation and support for critical programs like housing, child care and food assistance.

“Thanks to the American Rescue Plan, the United States has had one of the fastest post-pandemic recoveries among the world’s top economies, with nearly 15 million jobs created, record-low unemployment, higher wages, and a consistent decline in inflation. While MAGA Republicans in Congress have chosen to dismiss the success of this historic legislation, President Biden and his congressional allies continue to prioritize creating breathing room for hardworking families nationwide — from homeowner and renters’ assistance to lowering the cost of health care. Thanks to President Biden’s agenda, we navigated the pandemic with a pragmatic approach that enabled us to move forward safely and set our sights on building a better, stronger union.”

Over the past three years, the American Rescue Plan signed into law by President Biden has made a major impact across the country. The American Rescue Plan:

  • Expanded access to quality, affordable health care through the ACA and lowered the cost of health care premiums, meaning a family of four saved an average of $2,400 annually on their premiums and four out of five customers had access to quality coverage for under $10 a month.
    • Thanks to the Inflation Reduction Act, these health care savings are still available through 2025. 
  • Extended much-needed relief and support to hundreds of thousands of childcare providers and early childhood educators – offering a safe and healthy learning environment for more than five million children, helping child care centers reopen, and helping parents get back on the job – especially the more than two million women who left the workforce to take care of family as a result of COVID-19.
  • Extended and expanded unemployment insurance for millions of Americans who lost their jobs during the darkest days of the pandemic, and helped struggling homeowners catch up with their mortgage payments and utility costs.
  • Provided schools with the resources they needed to open safely, including supplies, testing, and additional resources to address learning loss and the social and emotional needs of students.
  • Provided hundreds of thousands of struggling small businesses—from drugstores to beauty shops, to restaurants and hardware stores—with the lifeline they needed to get back on their feet, keep their doors open, and keep workers on their payroll.
  • Issued 85% of American households—adults earning up to $75,000 a year— $1,400 rescue checks. For the average family of four, that’s an extra $5,600 to help families put food on the table, afford their prescriptions, and keep a roof over their heads.
  • Expanded the 2021 Child Tax Credit, delivering a middle-class tax cut to working families, which experts estimate cut child poverty nearly in half in 2021.
  • Increased the 2021 Earned Income Tax Credit maximum from around $500 to around $1,500, benefiting 17 million workers, including many essential and child care workers.
    • The American Rescue Plan also expanded the 2021 Child and Dependent Care Tax Credit to a total of $4,000 for one child or $8,000 for two or more children, helping families with children to make ends meet.

Read about the full impacts of the American Rescue Plan across the country and by state at BidenEconomyFacts.com.

The American Rescue Plan has helped create 14.8 million jobs, and increased average hourly earnings by $0.93 while not raising a penny of taxes for anyone earning less than $400,000 a year. See below for a sampling of what Americans across the country have read about its impact since it was signed into law by President Biden:

[Arizona] Litchfield Park Independent: Avondale, Tolleson receive funding for food-insecure residents

This money, part of Maricopa County’s allocation of federal American Rescue Plan Act dollars, will be used to provide operational grants to distribute shelf-stable food, fresh food, federal commodities, grocery donations, and fresh produce to both food-insecure populations and agencies that support food-insecure populations across the county.

[Georgia] The Atlanta Journal-Constitution: Gwinnett awards $7 million in grants to small businesses

Each business received between $3,000 to $15,000 based on factors such as the number of employees, gross revenue and total COVID-19 impact on the applicant, the release said.

The program was federally funded by the American Rescue Plan Act and the Community Development Block Grant, it added.

[Nevada] The Nevada Independent: Nevada launches first phase of $72 million unemployment modernization project

The state has designated $72 million for the entire project, including $54 million in federal American Rescue Plan funds allocated by the Legislature in 2021. The remaining $18 million came from a fund that collects penalties on employers who did not pay the required taxes for the unemployment program, said Christopher Sewell, the director of the state’s Department of Employment, Training and Rehabilitation (DETR).

[Pennsylvania] Perry County Times: Rescue Plan funds distributed across Perry County

Perry County commissioners reopened the American Rescue Plan application period for county non-profits and small privately owned businesses, with a deadline of Oct. 13. Of the 37 ARPA applications received, 18 were approved for funding, totaling $646,111.

[Wisconsin] Ozaukee County News Graphic: Cedarburg Light & Water utility works to provide financial assistance for lead service line replacements

The city and CL&W were awarded $600,000 from the DNR Private Lead Service Line Replacement Program for the lead service replacements done in 2022. The city also used some of its ARPA funds to cover some of the costs as well.