By: Grace Diamond
President Biden signed the American Rescue Plan Act (“Act”) into law in early March 2021 promising impactful relief for many Americans from the coronavirus pandemic. The Act provides fourteen hundred dollar checks and an extension of unemployment benefits to eligible Americans. More substantially, the Act provides tens of billions of dollars of aid for businesses. But who is actually covered, how does this relief Bill differ from prior pieces of legislation and what does it mean for business owners across the country? Essentially, this Act, unlike its predecessors, is narrowly tailored towards specific industries and begins phasing out generally available relief funding for the business sector.