House Passes New Stimulus Bill – Extended Employee Retention Credit, PPP Updates and Other Small Business Relief
On Saturday, February 27, 2021, the House of Representatives passed H.R. 1319, the American Rescue Plan Act of 2021 (ARPA). The bill provides, among a broad array of stimulus provisions, an extension of the employee retention credit through the end of 2021, as well as credits for paid family and sick leave for employees. It also makes some changes to the PPP loan program, and provides additional assistance to shuttered venue operators and restaurant businesses.
This article is a brief summary of the American Rescue Plan Act of 2021, as passed by the House. It is expected to move forward in the Senate in the near future. As it progresses through Congress, we’ll update you on any key changes and the impacts of the final bill once passed by the Senate.