The $1.9 trillion American Rescue Plan Act of 2021 (“ARPA”) is the second-largest government economic stimulus package in US history, coming a little less than a year after the $2.2 trillion CARES Act passed in 2020. ARPA includes direct payments and child credits to individuals, families, and the unemployed and money for states and local governments. For businesses, it includes additional funding for the PPP, EIDL, and SVOG programs and a new $28.6 billion Restaurant Revitalization Fund (“RRF”), which will award grants to smaller restaurants and chains based on the difference between 2019 and 2020 revenues.
Join Paren Knadjian and Jean Hagan for an update on the ARPA, the RRF, and the latest news on PPP loans and government aid programs such as the Employee Retention Tax Credit, which has been extended to the end of 2021.
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