There are some key things that are important to know about the $1.9 trillion American Rescue Plan that was signed into law on March 11th, 2021. I came across an article by Hartford Funds entitled "10 Things You Should Know About the 2021 Stimulus Package," and in this episode, I’ll be going over these 10 things and briefly weighing in on them for you.
Some of the most notable things you will want to take away from this are the changes in funding when it comes to families, unemployment, renters, healthcare, and small businesses. Listen in as I break down each of the 10 items and explain how they may affect you. You will also hear my thoughts on the big picture of the economy, rates, taxes, and where things will be going from here.
Listen to the Full Episode:
What You'll Learn In Today's Episode:
- When the plan was signed into law and how it affects you.
- What it means to prime the pump and the spending expectations for the next year.
- How this will affect families differently.
- The changes or additions to unemployment benefits.
- The situation for renters and landlords.
- Health insurance and subsidies.
- Compensations for lost learning time.
- What's happening with pension assistance.
Ideas Worth Sharing:
“The savings rate over the last year has skyrocketed, so you have a lot of people with cash in their savings accounts and they are itching to go out of the country for a vacation or back to Disney World.” - Jonathan Bednar
“That subsidy cliff is getting pushed back some, so people earning more money are going to be able to get some of that subsidy in order to help pay for their health insurance.” - Jonathan Bednar
“The economy did grind to a halt in a lot of places, but I think Americans did a really good job of pivoting, being resilient, getting their mindset right, and fighting through this, and I think that’s what allowed us to get through this thing so quickly.” - Jonathan Bednar
Resources In Today's Episode:
- Jonathan Bednar: Email | Twitter | LinkedIn
- 10 Things You Should Know About the 2021 Stimulus Package
- What The Wealth?! by Jonathan Bednar
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