Impact of US bailout on North Carolina – North Carolina Justice Center
The American Rescue Plan Act (ARPA), signed into law in March 2021, enacted transformational change and is widely considered the most sweeping anti-poverty legislation in a generation, estimated at reduce child poverty by more than half and reduce the gap in poverty rates by race and ethnicity.
The law includes dozens of provisions, some of which would be directly available to families, including expanded tax credits for working families and families with children, housing assistance, increased food assistance benefits and other essential supports to help families stay afloat while the COVID-19 pandemic rages on. It also includes substantial investments in support systems, including supports for community health centers and schools as well as flexible funds for state and local governments to make investments based on the needs they identify in their communities as a result of the COVID-19 pandemic.
The table below includes many, but not all, of the funding streams included in the U.S. bailout, including its overall goal by area, name of funding stream, allocation, or estimated allocation for Carolina of the North or other eligible recipients, and information on where to find additional information.