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