Perlmutter Supports American Rescue Plan to Bring Additional Relief for Coloradans in the Face of the Ongoing COVID-19 Pandemic

Press Release

U.S. Rep. Ed Perlmutter (CO-07) today voted for the American Rescue Plan Act of 2021 which will provide critical and immediate relief for individuals, families, healthcare providers, and communities across the country.

"As we work to vaccinate as many people as quickly as possible, this relief package is exactly what we need to contain the virus and work to rebuild our economy," said Perlmutter. "It will deliver aid to state and local governments, provide substantial funding to speed up vaccine distribution, aid in reopening schools, and support struggling families and businesses. The American Rescue Plan will quickly support the physical, emotional, and financial health of all Americans."

Importantly, the bill includes significant funding for state and local governments which have been on the front lines of this pandemic - which Perlmutter has long-supported - including an estimated $3.9 billion to the State of Colorado and $1.8 billion to city and county governments in Colorado. This funding comes with greater flexibility and eligible uses including to replace lost revenue and address the economic needs from the public health emergency.

In addition, the package provides:

Economic Impact Payments: Provides an additional $1,400 in direct payments per individual, including dependents, meaning a family of four could receive a payment of $5,600
Unemployment Assistance: Extends much-needed pandemic unemployment programs through August 29th; increases the weekly supplement to $400; provides $2 billion for the Department of Labor to address fraud and improve access to unemployment benefits; and increases the cost-sharing from the federal government for nonprofits and government agencies in the costs of paying unemployment benefits.
Education: In the 7th Congressional District, K-12 school districts are projected to receive upwards of $162 million to address learning loss and make upgrades to school facilities and equipment as we safely return to in person learning. The package also includes $24 billion for grants to childcare providers to help with payroll, rent, PPE, mental health support and other needs.
Small Businesses: Expands PPP eligibility and increases PPP funding, including support and eligibility for non-profits as well as provides additional funding for Targeted EIDL Advance program, a new Restaurant Revitalization Fund, and a new Shuttered Venue Operators Grant Program.
Housing: The package provides $25 billion in rental assistance, $10 billion in homeowners assistance, and $5 billion for homelessness programs.
The bill also includes several notable tax provisions including tripling the Earned Income Tax Credit for workers without children and extending the Child Tax Credit to $3,000 per child. It also provides greater health coverage by increasing the ACA's premium tax credits for 2021 and 2022 to provide subsidies to individuals who may not normally qualify for assistance. The package also raises the federal minimum wage over the next several years to $15 an hour to help raise the wages for 27 million Americans and lift almost one million people out of poverty.

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