The White House on Tuesday released a fact sheet on President Joe Biden’s $1.9 trillion American Rescue Plan, noting that millions of main street small businesses are struggling to make ends meet in the wake of the COVID-19 pandemic and resulting economic crisis.
The White House “especially noted” the struggles of Black- and Brown-owned businesses. Without additional government assistance, these challenges could worsen in the months ahead and the national vaccination program would be hobbled, administration officials noted.
The American Rescue Plan will change the course of the pandemic, deliver immediate relief for small businesses and American workers, and build a bridge towards economic recovery.
Many Americans already have received a $1,400 stimulus check, making good on President Biden’s pre-inaugural promise of $2,000 payments – Americans received $600 in the weeks prior to the new administration.
The White House fact sheet noted full support for small businesses through the current crisis. “Since the beginning of this pandemic, 400,000 small businesses have closed and millions more are hanging by a thread,” the administration offered in the fact sheet.
“President Biden’s plan will provide emergency grants, lending, and investment to hard-hit small businesses so they can rehire and retain workers and purchase the health and sanitation equipment they need to keep workers safe,” the statement continued.
Further, the American Rescue Plan will:
In addition to providing direct relief to hard hit small businesses, the American Rescue Plan will bolster a whole-of-government COVID-19 response that will change the course of the public health crisis, administration officials wrote in the fact sheet.
The American Rescue Plan will “devote $1 trillion toward building a bridge to economic recovery for working families, including those who work for small businesses; and provide critical support to communities that are struggling in the wake of the pandemic.”
The White House concluded:
“The American Rescue Plan will address the immediate crises facing small businesses. In the coming weeks, President Biden will lay out his economic recovery plan to invest in America, create millions of additional good-paying jobs, and build back better than before.”