A Closer Look at the American Rescue Plan Act of 2021

Photo Credit: ElevenPhotographs via Unsplash.com

On March 6, the American Rescue Plan Act of 2021 was approved by the Senate. This new $1.9 trillion bill will affect businesses in several ways, including changes to employee retention credits, paid leave credits, and executive compensation. The stimulus offers another round of funding opportunities through SBA loans and shuttered venue operators grants. There are also provisions being offered exclusively to restaurants through the newly established Restaurant Revitalization Fund for 2021.  

Owning a small business pulls you in a lot of directions. We at the Joplin Area Chamber of Commerce (JACC) recognize this and want to make sure you are aware of resources that could be helpful to your business’s success.

Helpful Resources:

  • BKD CPAs & Advisors explains how this new bill will affect individuals and businesses here.
  • Rob O’Brian, with O’Brian and Associates, presented information for small businesses and non-profits about COVID-19 loans and resources on an MU Extension workforce webinar, which was hosted on March 11. Click here to see Mr. O’Brian’s presentation. If the recording of the call becomes available, we will make it accessible here and share it on the JACC social media and communication channels.

The bill may be read in its entirety on Congress’s website, here.

If you require additional guidance to be connected to materials, please do not hesitate to reach out to Chamber staff at info@joplincc.com and 417.624.4150.

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