On March 11, 2021, President Biden signed into law the American Rescue Plan Act, a $1.9 trillion coronavirus relief bill that allocates new funds and tax credits to help struggling small businesses. This new bill includes targeted aid for restaurants in the form of grants, additional aid, and an expansion of existing credits such as the Employee Retention Tax Credit.
During the US Chamber of Commerce’s 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.
To learn more about the latest stimulus package and what it means for small businesses, click here.