Over the weekend, the Senate passed the American Rescue Plan Act of 2021 (H.R. 1319) and the House today approved the amended version 220-211. A spokeswoman for President Joe Biden said he is expected to sign the bill on Friday. The bill includes $20.25 billion in additional Emergency Rental Assistance, $5 billion in Emergency Housing Vouchers, $100 million in Emergency Assistance for Rural Housing, $750 million in Housing Assistance and Supportive Services Programs for Native Americans, $5 billion in Homelessness Assistance and Supportive Services, and $9.9 billion for the Homeowner Assistance Fund.
Households making under $75,000 ($150,000 for a couple) are eligible to receive a full $1,400 stimulus check, with reduced payments for individuals and couples earning up to $80,000 and $160,000, respectively. Unemployment benefits were reduced from $400 to $300 per week and extended through September 6, 2021. The bill also expands the Child Tax Credit up to $3,600 for one year per child for individuals earning less than $112,500 or couples earning $150,000. Recipients are eligible for up to $300 per month for young children and $250 for children over five.
