April 8, 2021

Summary of the American Rescue Plan Act of 2021

Summers Compton Wells LLC has prepared a summary regarding the latest installment of COVID-19 relief and stimulus legislation, the American Rescue Plan Act of 2021.

This summary provides information on new and expanded grant programs and tax benefits for businesses and employers, including:

  • The State Small Business Credit Initiative
  • Economic Injury Disaster Loans
  • The Restaurant Revitalization Fund (new)
  • The Shuttered Venue Operators Grant Program (Accepting applications now)
  • COBRA Premiums Subsidies
  • Employee Retention Tax Credits
  • Emergency Paid Sick Leave and Family Emergency Medical Leave Tax Credits
  • Additional Support for the Healthcare and Agriculture Industries

We will continue to closely monitor legislative and regulatory developments related to this legislation and the COVID-19 pandemic.  The full summary is available via the link below.

Summary of Key Provisions of the American Rescue Plan Act of 2021