By Stephanie Mercado

President-elect Joe Biden has released the details of a proposed $1.9 trillion COVID-19 relief package aimed at supporting businesses and individuals impacted by the pandemic. Dubbed the American Rescue Plan, the package comes on the heels of the $900 billion pandemic relief bill signed into law by President Trump last month and is the first of two major spending initiatives senior Biden officials say the President-elect will seek in the first few months of his presidency.

What’s Included in the American Rescue Plan

The proposed plan calls for the following:

  • $1,400 stimulus checks to most Americans, which is in addition to the $600 payments included in December’s pandemic relief bill
  • $15 billion for a new grant program for small business owners
  • Increasing federal unemployment benefits to $400 per week (from $300 per week) and extending through September 2021
  • Increasing the federal minimum wage to $15 per hour
  • $350 billion in aid to state and local governments
  • Reinstating paid sick and family leave benefits that expired at the end of December through September 2021
  • $25 billion in rental assistance for certain households who have lost their jobs during the pandemic
  • Extending the eviction and foreclosure moratoriums until the end of September 2021
  • $170 billion toward K-12 schools and higher education institutions
  • $50 billion for COVID-19 testing
  • $20 billion for a national vaccine program
  • Increasing the Child Tax Credit to $3,000 per child ($3,600 for children under 6) and making the credit fully refundable for the year

Biden will officially unveil the plan during a speech Thursday night.

KJK will continue to stay on top of these developments and provide updates. If you have questions or would like to discuss further, please reach out to Stephanie Mercado at or 216.736.7272.