Biden signed the $1.9 trillion COVID relief package into law today. The American Rescue Package authorizes a third round of one-time stimulus payments up to $1,400 for most Americans, extends enhanced unemployment benefits, and changes the tax code to benefit families with children. The package also unlocks new federal aid to help schools reopen, aid cities and states with budget shortfalls, provide billions in aid for small businesses, and assists in the rollout of a coronavirus vaccine. Americans may start seeing stimulus payments as early as this weekend.
Earlier this week, Governor Polis announced a bipartisan economic stimulus plan for the State of Colorado, involving at least 40 projects (all of which will require approval by the Legislature) totaling $700 million. There are $170 million in “shovel-ready” infrastructure projects and more than $500 million in remaining projects including investments in rural Colorado, small business recovery, workforce training and development, affordable housing, mental health and child care. Read a synopsis from the Colorado Sun.