Update on the American Rescue Plan
On March 11 the American Rescue Plan Act of 2021 was signed into law. The new legislation comes as a follow-up to the 2020 Coronavirus Aid, Relief and Economic Security Act (CARES Act), the Families First Coronavirus Response Act (FFCRA), and the Consolidated Appropriations Act.
The $1.9 trillion relief plan from the federal government includes benefits for individuals in the form of increased unemployment compensation funds, economic impact payments, increased child tax credits, earned income tax credits, and more.
The bill also includes changes to the COVID paid leave benefits originally passed in 2020 under the Families First Coronavirus Response Act.
The team at CEDR HR Solutions has been guiding our advisors and clients as they navigate the human resources challenges and provisions the pandemic-related relief efforts have created over the last year.
We invite you to read their latest blog featuring the key points from the new legislation:
- Providing FFCRA paid leave continues to be voluntary
- FFCRA tax credits have been extended and are available through September
- Starting April 1, employees can now use FFCRA for vaccine-related absences
- Anti-discrimination protections expanded to ensure FFCRA benefits are consistent for all employees
- Banks of FFCRA sick and family leave time are reloaded on April 1