What Birmingham companies can expect from COVID relief bill

Credit: USA TODAY

Credit: USA TODAY

On Wednesday, Congress passed the American Rescue Plan Act of 2021, a $1.9 trillion COVID relief bill that President Joe Biden signed into law yesterday.

The law is multi-layered and has impacts reaching from individuals and families to businesses and nonprofits. Key components are that it will provide $1,400 per person in additional stimulus checks; provide direct financial assistance to cities and counties; extend unemployment benefits through September 6, 2021; and launch a $20 billion national vaccination plan that includes setting up community vaccination sites across the country. There will also be new incentives for states like Alabama that have not yet expanded Medicaid programs.

It also supports small businesses and communities struggling with the economic fallout, specifically minority- and women-owned businesses, with Economic Injury Disaster Loan (EIDL) grants and expanded Paycheck Protection Program (PPP) eligibility, including the eligibility addition of most 501(c) nonprofits and an additional $7.25 billion in funding.

Projected allocations for Jefferson County top $127 million, and for Shelby County, over $42 million. Click here to see the full list of projected allocations for all counties across the Birmingham region, the state of Alabama and the U.S. as a whole.