American Rescue Plan
The American Rescue Plan is a comprehensive COVID-19 relief package which will put shots in the arms of Americans, children back in the classroom, money in the pockets of working families and people back to work.
SHOTS IN ARMS
The plan will ramp up vaccinations by mounting a national vaccine program that includes setting up community vaccination sites and addressing disparities in distribution.
MONEY IN POCKETS
The American Rescue plan will put money in the pockets of Coloradans, providing $1,400 in survival checks for individuals making under $75,000 and joint filers making under $150,000 -- 82% of Coloradans.
How to access your check: This payment will be sent to you via check or direct deposit from the IRS. You do not need to take any action to get this payment, but if you are having difficulty receiving it, you can contact my office for assistance.
The plan provides direct housing assistance and nutrition assistance and extends unemployment insurance to support Coloradans who are struggling amidst the unprecedented economic crisis brought on by the pandemic. It will provide support for our most vulnerable populations, and cut childhood poverty in half through an expanded Child Tax Credit.
How to access unemployment benefits: File a claim with Colorado's Department of Labor and Employment. Start here.
How to access the Child Tax Credit: Single filers earning up to $75,000 and joint filers earning up to $150,00 will qualify for the expanded Child Tax Credit. The Secretary of the Treasury will issue child tax credit payments in advance without any action on your part. If you are having difficulty, contact our office for help.
KIDS IN THE CLASSROOM
The bill invests nearly $130 billion in school reopening to help get kids back in the classroom sooner, including investing $1.2 billion in K-12 schools in Colorado and $466 million for Colorado childcare facilities.
PEOPLE IN JOBS
The plan will put people back to work, provide support for first responders and essential workers and provide crucial support for the hardest-hit small businesses through EIDL grants and expanded PPP eligibility.
How to access small business support: Visit SBA.gov to match with a lender and find lenders in your area. Expanded eligibility and extended program dates will be updated soon. Contact our office with questions.
For a full list of benefits and resources provided under the plan click here.
FREQUENTLY ASKED QUESTIONS:
How much are the stimulus checks? Am I eligible? How do I get mine?
Stimulus checks of $1,400 per person will be sent to you via check or direct deposit from the IRS. You do not need to take any action to get this payment, but if you are having difficulty receiving it, you can contact my office for assistance.
Single filers with incomes up to $75,000, head of household filers with incomes up to $112,500, and joint filers with incomes up to $150,000 will receive the full $1,400. If you make more than these amounts, you will receive a lesser amount in your stimulus check. Those who will not receive any stimulus payment include single filers making over $80,000, head of household filers making $120,000, and joint filers making over $160,000. This will be determined using 2019 tax returns or 2020 if they are already filed.
The stimulus payments include US citizens, lawful permanent residents, DACA recipients and others who hold a valid social security number. If both parents are undocumented but filed their taxes with individual tax identification numbers (ITNs), and their dependent is a U.S. citizen, their depndent qualifies for a check.
Will adult dependents receive stimulus checks?
Yes. This includes adults ages 19-24, retirees, or those with disabilities who rely on another person for over half of their expenses. The person who claims them as a dependent simply must meet the requirements for the stimulus listed above.
What does this bill mean for child tax credit?
This will make the child tax credit fully refundable and increases the amount to $3,000 per child (ages 7-17) and $3,600 for a child under age 6. Advance payments will be made based on the parents’ 2019 or 2020 tax returns. Experts estimate this will cut child poverty in half.
The advance payments would begin on July 1, 2021. This also applies to anyone who gives birth in 2021; they will receive the third $1,400 stimulus check after filing their tax return in 2022.
Those eligible include single filers making up to $75,000 a year, head of house filers earning up to $112,500, and joint filers earning up to $150,000. If your annual income exceeds those amounts, the credit will be reduced by $50 for each additional $1,000 of your income. Single filers earning more than $95,000 or joint filers earning $170,000 or more are not eligible.
Are stimulus checks taxable income?
No, stimulus checks will not be taxed. That also means they will not affect your eligibility for other government aid.
How does this bill affect unemployment assistance?
The bill extends Pandemic Unemployment Insurance (a supplemental $300 a week) through September 6, 2021. A claim must be filed with Colorado’s unemployment insurance program in order to qualify. Start here to file a claim. Again, if you have any trouble receiving unemployment benefits, please contact my office.
How will this help schools reopen safely?
This bill allocates $130 billion to help K-12 schools reopen safely nationwide. Colorado will receive $1.2 billion. Specifically, this will allow schools to:
Purchase personal protection equipment, repair ventilation systems, reduce class sizes, and hire staff to care for students’ health.
Reserve 20% of funds to make up for lost time and learning in the classroom.
Support will also be given to child care facilities, higher education institutions and emergency aid for their students, and expanding internet connectivity.
A change in employment is putting my health insurance at risk, what help is there?
Those who choose to use COBRA to continue using their employer’s health coverage after losing their jobs will receive a 100% subsidy. This will be valid through September 30, 2021. Those who choose to do so will be required to pay the full cost of their coverage (including employer contribution).
This bill also expands the Affordable Care Act (ACA) subsidies by granting an estimated 4.5 million additional Americans coverage. Those receiving unemployment at any time in 2021 will be able to purchase an ACA silver plan for no premium. No one will need to pay over 8.5% of their income for an ACA silver plan, and those below 150% of the poverty level will not need to pay premiums.
How will this support small businesses and nonprofits?
This bill will put $7.25 billion in additional funding towards the PPP and 501(c) eligibility will be expanded.
The Small Business Administration (SBA) will be giving EIDL grants in three categories. The first includes businesses that have no more than 300 employees and must demonstrate a loss of greater than 30% for an eight week period between March 2, 2020 and December 31, 2020. These are businesses that did not receive their initial requested payment, and will be eligible for up to $10,000, specifically $1,000 per employee. Another window is exclusive to businesses with less than 10 employees and losses of 50%, and the third for businesses with fewer than 10 employees and losses between 30%-50%.
To apply for a PPP or SBA loan, please contact your bank.
If you need assistance with accessing PPP loans, SBA grants, or have additional questions please contact my office.
What rental aid is there?
The state of Colorado has the Emergency Rental Assistance Program (ERAP). If tenants are unable to pay rent due to COVID-19 conditions, their income is at or below the maximum income listed here, or they have not received assistance for requested months yet, they may be eligible for the ERAP. Fill out an application here based on what county you live in. For more information, visit the ERAP website.