Congressman Tim Ryan Votes Yes On Final Passage of the American Rescue Plan
Washington, DC – Congressman Tim Ryan (OH-13) today voted in support of the American Rescue Plan Act, which includes $5.68 Billion for the State of Ohio and nearly $300 million for counties in the 13th District. The bill also provides direct assistance to households across America with checks of $1,400 per person, following the $600 down payment enacted in December – which will be sent to 5.3 million Ohioans. Additionally, it fixes the previous dependent issues so college students, adults with disabilities, and any other adult dependent will now be able to receive a check.
“The passage of the American Rescue Plan Act will be a lifeline for the working class across Ohio. In Northeast Ohio, the COVID-19 pandemic has taken a real toll on families and businesses alike. Economic measures we’ve passed in this package will not only help people who are struggling now, it will help rebuild the working class for years to come,” said Congressman Ryan. “With much-needed investments in public health, help for families and businesses, and bold steps forward for the American worker, the American Rescue Plan Act will help us build back – and build back better than before.”
The final version of the American Rescue Plan Act:
- Stabilizes multiemployer pension plans: The economic crisis caused by the pandemic has undermined many pension plans. The bill stabilizes Multiemployer Pension Plans by creating a special financial assistance program under which cash payments would be made by the PBGC to financially troubled Multiemployer Pension Plans to ensure the plans can continue paying retirees’ benefits, thereby protecting retirees who worked for decades to earn their benefits.
- Takes crucial steps to combat coronavirus by providing $20 billion for a national vaccination program; scaling up testing and tracing; providing critical funding to treat and protect all Americans, including in communities of color; and supporting the VA’s ability to meet the treatment needs of our nation’s veterans.
- Provides nearly $130 billion available to states and school districts for immediate and long-term relief so they can work with public health experts to safely re-open schools and make up for lost time in the classroom. And includes a requirement that schools receive these funds within 60 days.
- Extends unemployment insurance through September 6th with the FPUC weekly benefit at $300 and exempts up to $10,200 in unemployment benefits received in 2020 from federal income taxes for households making less than $150,000.
- Includes crucial support for the hardest-hit small businesses, especially those owned by entrepreneurs from racial and ethnic backgrounds that have experienced systemic discrimination, with EIDL grants, expanded PPP eligibility, and more. Includes $28.6 billion for a Restaurant Revitalization Fund and an additional $1.25 billion for Shuttered Venue Operators Grants.
- The final bill increases funding for a new program at the SBA to offer assistance to restaurants and bars hard hit by the pandemic from $25 billion to $28.66 billion. $5 billion is set aside specifically for smaller establishments with less than $500,000 in 2019 annual revenue. During the first 21 days, applications from restaurants owned and operated by women, veterans, or socially and economically disadvantaged individuals will receive priority.
- Provides funding for enhancements to refundable tax credits like the Child Tax Credit and the Earned Income Tax Credit. Making the Child Tax Credit Fully Refundable and Increasing Its Size for 2021: The bill makes the child tax credit fully refundable for 2021 and increases the annual amount from the current $2,000 per child to $3,000 per child ($3,600 for a child under age 6). It also strengthens the Earned Income Tax Credit for Childless Adults, for 2021: The bill raises the maximum Earned Income Tax Credit for childless adults from roughly $530 to close to $1,500, raises the income limit for the credit from about $16,000 to about $21,000, and eliminates the age cap for older workers for 2021.
- Supports Americans in need with rental, mortgage, and homelessness assistance, extending the emergency benefit increase in the Supplemental Nutrition Assistance Program (SNAP), expands access to safe and reliable childcare and affordable health care, and provides support for those needing help paying utilities.
The House had passed its version of the bill on February 27. Today’s passage, with a vote of 220 to 211, sends the bill to the President’s desk for his signature.