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American Rescue Plan

Relief payments boosted Americans' bank balances. Here's how.

by Mitchell Hartman
May 14, 2021
People with the lowest incomes spent theirs on necessities. The better-off spent on home improvements and vacations.
After the most recent round of relief, hunger in America fell.
Oleg Nikishin/Getty Images
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COVID-19

The pandemic could mean new housing for those experiencing homelessness

by Matt Levin
Apr 23, 2021
COVID has resulted in a wave of federal money directed at helping the roughly 580,000 people without stable shelter.
Housing expert Gregg Colburn explains how we can best address homelessness on local, state and federal levels.
Frederic J. Brown/AFP via Getty Images
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COVID-19

HUD announces $5 billion in grants to fight homelessness

by Samantha Fields
Apr 9, 2021
The money can be used for tenant-based rental assistance and property development to create more affordable housing.
Protestors demonstrate against the removal of an encampment in Los Angeles, CA during the spring of 2021. Mario Tama/Getty Images
Mario Tama/Getty Images
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COVID-19

How recipients will spend COVID relief payments depends on their income

by Mitchell Hartman
Mar 26, 2021
The worst off are likely to use them to fend off economic disaster. The best off may well splurge.
Middle-income households may increase their spending a bit, and pay down debt. But Camilla Yanushevsky at CFRA Research said some of them may hold back, because they’re worried.
LPETTET via Getty Images
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COVID-19

Fed Chair: Rise in inflation not "particularly large" from $1.9 trillion rescue package

by Katherine Wiles
Mar 23, 2021
Powell told lawmakers Tuesday that the “effect on inflation will be neither particularly large nor persistent,” from the $1.9 trillion rescue plan.
Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen testified before the House Financial Services Committee Tuesday.
Screengrab via Youtube
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COVID-19

Consumer confidence surges on relief payments

by Mitchell Hartman
Mar 22, 2021
Morning Consult finds the American Rescue Plan boosted consumer confidence, with low- to middle-income Americans buoyed the most.
Optimism has increased since President Joe Biden signed the American Rescue Plan, which will likely lead to increased spending.
Samuel Corum/Getty Images
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COVID-19

COVID relief extends Medicaid's pregnancy health insurance benefit to a full year

by Sabri Ben-Achour
Mar 19, 2021
In the U.S., Black and Indigenous women are two to three times as likely to die from pregnancy-related causes in the first year as white women.
The American Rescue Plan allows states to extend pregnancy-based Medicaid to a full year of coverage.
Courtney Hale via Getty Images
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COVID-19

Companies see an opportunity with more relief money headed to consumers

by Justin Ho
Mar 17, 2021
Deals and other offers are likely to appear online, where people have already been shopping during the pandemic.
Consumers are likely to spend this latest round of relief payments quickly, said Matt Kleinschmit, CEO of the market research consultancy Reach3 Insights.
Spencer Platt/Getty Images
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COVID-19

Many will see $1,400 COVID payments hit bank accounts today

by David Brancaccio and Nova Safo
Mar 17, 2021
Tens of millions of taxpayers will get the direct payments Wednesday if the IRS has their direct deposit information.
There was some initial confusion because the IRS said that it began processing payments on Friday. People were online on Monday wondering where their deposits were.
William Thomas Cain/Getty Images
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“This is not Christmas,” Illinois comptroller warns of federal relief money

by Kai Ryssdal and Maria Hollenhorst
Mar 16, 2021
“That money is essentially spoken for,” Susana Mendoza says of the $7.5 billion coming to the state from the American Rescue Plan.
Federal relief money offers a chance for Illinois to pay down its debt. Above, a view of Lake Michigan from the Sears Tower Skydeck in Chicago.
Tim Boyle/Getty Images
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