Page:American Rescue Plan Fact Sheet - Impacts on Iowa.pdf/1



''The pandemic and the associated economic crisis have had a severe impact on Iowa. The need for action is clear:''
 * Since the pandemic began, more than 339,500 people have been infected with COVID-19 and more than 5,500 people have died.
 * The unemployment rate is 3.7%, up from 2.9% before the pandemic.
 * Since February 2020, more than 118,500 fewer people are employed.
 * 175,000 adults – 8% of all adults in the state – report not having enough food to eat. This includes 81,000 adults living with children, or 11% of all adults living with children, who report that the children in their household do not have enough to eat.
 * An estimated 86,000 renters or 15% of renters are not caught up on rent.
 * An estimated 604,000 adults or 27% of all adults statewide report having difficulty covering normal household expenses.

President Biden’s American Rescue Plan will provide Iowa with:
 * $1.6 billion in state fiscal relief
 * $1.1 billion in local fiscal relief
 * More than $803 million in relief for K-12 schools
 * Economic impact payments of up to $1,400 per person (above the $600 per person provided in December) for more than 2 million adults and 800,000 children. This is 91% of all adults in the state and 89% of all children in the state.
 * Additional relief of up to $1,600 per child through the Child Tax Credit to the families of 670,000 children, lifting 25,000 children out of poverty
 * Additional relief of up to nearly $1,000 through the Earned Income Tax Credit to 181,000 childless workers, including many in frontline jobs
 * Marketplace health insurance premiums that are $1,690 lower per month for a 60-year old couple earning $75,000 per year