What Businesses Need to Know: American Rescue Plan Act
Here's what businesses need to know about the American Rescue Plan Act and the Restaurant Revitalization Fund.
Air Date: March 12, 2021
Moderator: Jeanette Mulvey, Editor-in-Chief at CO—, U.S. Chamber of Commerce
Featured Guests: Neil Bradley, Executive Vice President, Chief Policy Officer, and Head of Strategic Advocacy, U.S. Chamber of Commerce
On March 11, 2021, President Biden signed into law the American Rescue Plan Act, a $1.9 trillion coronavirus relief bill that allocated new funds and tax credits to help struggling small businesses. This bill included targeted aid for restaurants in the form of grants, additional aid, and an expansion of existing tax credits such as the Employee Retention Tax Credit (ERTC).
During the March 12 Small Business Update, Jeanette Mulvey, Content Director at CO—, spoke with the National Restaurant Association Executive Vice President Sean Kennedy and U.S. Chamber of Commerce Executive Vice President and Chief Policy Officer Neil Bradley about how the American Rescue Plan can help small businesses. Kennedy and Bradley also answered audience questions and spoke about updates to the Paycheck Protection Program and upcoming federal grant programs.
The video above outlines some of the biggest takeaways regarding the ARPA. Learn more insights from the conversation here.