Washington, D.C. — A new report from the Center for American Progress presents data showing that the 2021 American Rescue Plan (ARP) eased hardship for millions of Americans and spurred an unprecedented economic recovery. The report also looks at how the expiration of program expansions to the child tax credit and unemployment insurance within the ARP has harmed individuals, families, and communities, making the case for sustainable, long-term funding that helps build an economy that works for all.
The report examines the impact of the following programs and changes and makes the case for many of them to be made permanent:
- Economic income payments (better known as stimulus checks)
- Changes to the tax code to support low-income families
- Enhanced unemployment insurance
- Nutrition assistance
- Housing security
- Workforce investments for training and hazard pay
- Health coverage and affordability gains
- Essential medical and education funding for people with disabilities
“The ARP showed how important a robust social safety net is to not only helping people in need, but also supporting the larger economy—especially during a downturn,” said Arohi Pathak, director of policy for the Poverty to Prosperity Program at CAP and co-author or the report. “But without further action from Congress to make many of the now-expiring programs permanent, economic security for millions is in jeopardy, and sustainable economic growth could slip away.”
Read the report: “The ARP Grew the Economy, Reduced Poverty, and Eased Financial Hardship for Millions” by Kyle Ross, Arohi Pathak, Seth Hanlon, Mia Ives-Rublee, Justin Schweitzer, Michela Zonta, Natasha Murphy, Osub Ahmed, and Marina Zhavoronkova
For more information or to speak with an expert, contact Julia Cusick at [email protected].