The House gave final approval to the $1.9 trillion American Rescue Plan Act on Wednesday, March 10, passing it to President Joe Biden's desk for his signature.
The COVID-19 relief plan allocates money for vaccines, schools, small businesses and anti-poverty programs. Among the act’s many provisions are several tax items, including unemployment benefits, recovery rebates, COBRA continuation coverage, student loans and multiple tax credits. See the tax items.
President Biden plans to sign the bill into law on Friday, March 12, according to administration officials.