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.