Congress Passes President Biden’s $1.9 Trillion American Rescue Plan

The long awaited $1.9 trillion COVID-19 relief bill that has been passed by Congress is heading to President Biden for signing. In addition to providing up to $1,400 in direct payments to eligible adults and extending $300 per week emergency unemployment benefits into early September, the bill brings hundreds of billions in funding for COVID-19 vaccines and treatments, schools, state and local governments, and significantly impacted industries ranging from airlines to concert halls. Some other noteworthy provisions include rent and mortgage assistance; $28.6 billion to provide grants for eligible restaurants and small businesses; a $15 billion Emergency Industry Disaster Loan program to provide long-term, low-interest loans to eligible restaurant owners; and $510 million for the FEMA Emergency Food and Shelter Program, which supports homeless service providers.

Source:    https://www.crainsnewyork.com/economy/congress-oks-19t-relief-bill-americans

Source:    https://therealdeal.com/2021/03/08/what-real-estate-gets-in-bidens-1-9-trillion-package/