Direct Economic Impact Payments

March 17, 2021, Treasury and IRS Disbursed 90 Million Economic Impact Payments from the American Rescue Plan

• March 18, 2021, U.S. Treasury Fact Sheet
• IRS Online “Get My Payment” Portal
• IRS Additional Informational Information on third round of Economic Impact Payments
• IRS Fact Sheet

Tax Credits to Small Employers

April 21, 2021, American Rescue Plan Tax Credits Available to Small Employers to Provide Paid Leave to Employees Receiving COVID-19 Vaccines

WASHINGTON — The Treasury Department and the Internal Revenue Service announced today further details of tax credits available under the American Rescue Plan to help small businesses, including providing paid leave for employees receiving COVID-19 vaccinations.

Eligible employers, such as businesses and tax-exempt organizations with fewer than 500 employees and certain governmental employers, can receive a tax credit for providing paid time off for each employee receiving the vaccine and for any time needed to recover from the vaccine. For example, if an eligible employer offers employees a paid day off in order to get vaccinated, the employer can receive a tax credit equal to the wages paid to employees for that day (up to certain limits). 

• U.S. Treasury Paid Leave Snapshot
• IRS Fact Sheet

State and local Fiscal Recovery Funds Objectives

• Support urgent COVID-19 response efforts to continue to decrease spread of the virus and bring the pandemic under control
• Replace lost revenue for eligible state, local, territorial, and Tribal governments to strengthen support for vital public services and help retain jobs
• Support immediate economic stabilization for households and businesses
• Address systemic public health and economic challenges that have contributed to the inequal impact of the pandemic

Concurrent with this program launch, Treasury has published an Interim Final Rule that implements the provisions of this program.

• Fact Sheet
• FAQ
• Allocations for Counties
• Allocations for States

Congressional Research Service Reports

• The American Rescue Plan Act, Section 9901  - The Coronavirus State Fiscal Recovery Fund
• The American Rescue Plan Act, Section 9901 - The Coronavirus Local Fiscal Recovery Fund

Grants.gov has over 800 funding announcement for American Rescue Plan opportunities. 

To search for grants go to https://www.grants.gov/web/grants/search-grants.html and in the search box type American Rescue Plan (see example image below).

Coronavirus Preparedness and Response Supplemental Appropriations Act,  P.L. 116-123

Signed into law on March 6, 2020

Provided $8.3 billion in emergency funding for federal agencies to respond to the coronavirus outbreak. Of the $8.3 billion, $6.7 billion (81%) is designated for the domestic response and $1.6 billion (19%) for the international response. 

Families First Coronavirus Response Act, P.L. 116-127, Signed into law March 18, 2020

This bill responds to the COVID-19 outbreak by providing paid sick leave, tax credits, and free COVID-19 testing; expanding food assistance and unemployment benefits; and increasing Medicaid funding.