Missouri Business Headlines

Congress passes American Rescue Plan

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A vast federal coronavirus relief package was passed by Congress on March 10. The $1.9 trillion COVID relief bill is considered to be one of the largest-ever economic stimulus packages in U.S. history.

The congressional legislation includes multiple provisions of interest for the business community including additional funding for the Paycheck Protection Program and the establishment of a grant program dedicated specifically to the hard-hit restaurant industry.

Additionally, the wide-reaching relief package extends unemployment insurance benefits, includes stimulus checks for most Americans, expands the existing child tax credit, and allocates significant funding for local and state governments as well as K-12 schools.

A proposal to increase the minimum wage was not included in the passed legislation. The bill was signed into law on March 11, with stimulus checks expected to begin to reaching most Americans’ bank accounts at the end of the month.

Very soon the Missouri Chamber will be releasing a new webinar that walks employers through the details of this package, so keep your eyes open for that announcement.

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