House Speaker Nancy Pelosi of Calif., and Senate Majority Leader Chuck Schumer of N.Y., pose after signing the $1.9 trillion COVID-19 relief bill during an enrollment ceremony on Capitol Hill, Wednesday, March 10, 2021, in Washington. (AP Photo/Alex Brandon)
Tax attorney Steve Moskowitz outlines The American Rescue Plan’s tax savings and benefits for small businesses on The Morning Show with Nikki Medoro Monday morning.
Over the last few months, the American Rescue Plan has been a topic of large discussion. Biden introduced his crucial $1.9 trillion pandemic plan in January, the House passed the plan late February allowing the Senate to pass the bill earlier this month.
The American Rescue Plan includes $1.9 trillion to immediately address the health, economic, and societal harms of the COVID-19 pandemic. With lots of back and forth on the bill, many people are left confused as to what the bill actually means.
“Most immediately for our City, the American Rescue Plan will provide roughly $600 million to San Francisco. In addition to this, the Federal Emergency Management Agency has announced they will fully reimburse eligible costs relating to the pandemic response, instead of only reimbursing 75% of those costs as they had been doing previously. Additionally, new projections show that we have an unexpected surplus in the current budget year of $125 million.” Said Breed, breaking down what San Franciscans can expects from the plan.
“Cities like Oakland need this Rescue Plan to restore services that we’ve had to cut during this crisis, like public safety +park workers. Without aid, Oakland will exhaust emergency reserves + need to cut more. This plan is a lifeline for our community, economy & public services.” Tweeted Schaaf.
Listen to the full conversation between Steve Moskowitz and Nikki Medoro below.