Everyone has felt the impacts of the coronavirus pandemic in one way or another—economic, health, social, psychological, or a combination.
Retirees, especially, have been deeply afflicted by COVID-19, being most vulnerable to catch the various strains, experiencing deep financial commitments, and being isolated from family, friends, and loved ones.
Since March 2020, there have been two significant stimulus packages to help curb some of this loss—the $2.2 trillion CARES Act and the $900 billion Consolidated Appropriations Act. Now, there is another package, the American Rescue Plan.
The $1.9 trillion coronavirus relief package passed with a 220-211 vote in Congress and was signed into law by President Joe Biden on Friday, March 12.
What support does this bill provide? Here are the major components.
What’s the American Rescue Plan?
This package was designed to support individuals, families, businesses, and the economy at large, which has sustained negative impacts due to...