What is the American Rescue Plan Act?
The American Rescue Plan Act (ARPA) provided a third round of stimulus checks to help people impacted by the pandemic recession. It includes direct financial relief for Americans including:
- A $1,400 stimulus check for Americans earning up to $75,000 a year (up to $150,000 a year if married).
- An additional $1,400 for each dependent claimed on your taxes.
- An expanded federal Child Tax Credit of $3,000 for children ages 6 to 17 and $3,600 for children under age 6. This amount will be paid in installments of up to $300 a month for at least one year beginning as soon as July.
- An expanded federal Earned Income Tax Credit (EITC)