On March 11, President Joe Biden signed into law the American Rescue Plan Act (H.R.1319), a massive $1.9 trillion COVID-19 aid package passed using the budget reconciliation process in Congress. No Republicans in the House or Senate voted in favor of the legislation.
Notable provisions included in the broad relief bill are:
- Direct stimulus payments up to $1,400 for individuals
- Extension of pandemic unemployment programs ($300/week through September 6)
- Expansion of tax credits for families and for employers who offer paid leave
- Funding assistance for state & local government aid and vaccine & testing programs
- $7.25 billion for SBA’s Paycheck Protection Program (PPP) loans and $15 billion for Economic Injury Disaster (EIDL) loans
- A temporary increase in Medicaid funding to states that expand their programs
- Federal student loan forgiveness made tax-free through 2025
Impact on General Dentistry: AGD appreciates the provisions in the latest COVID-19 aid package that will provide relief to Americans in need, including dentists who are burdened by student loan debt. AGD will continue to work with allies and policymakers to have additional relief provisions that benefit general dentists and patients in future relief packages.