American Rescue Plan Fact Sheet: Impact on New Jersey

by Joseph Robinette Biden

The American Rescue Plan: Impacts on New Jersey

The Need for Action in New Jersey

The pandemic and the associated economic crisis have had a severe impact on New Jersey. The need for action is clear:

• Since the pandemic began, more than 812,609 people have been infected with COVID-19 and more than 23,574 people have died.
• The unemployment rate is 7.7%, up from 3.7% before the pandemic.
• Since February 2020, more than 369,053 fewer people are employed.
• 510,000 adults – 9% of all adults in the state – report not having enough food to eat. This includes 329,000 adults living with children, or 15% of all adults living with children, who report that the children in their household do not have enough to eat.
• An estimated 396,000 renters or 18% of renters are not caught up on rent.
• An estimated 2,029,000 adults or 32% of all adults statewide report having difficulty covering normal household expenses.

The Effect of the American Rescue Plan on New Jersey

President Biden’s American Rescue Plan will provide New Jersey with:

• $6.31 billion in state fiscal relief
• $3.47 billion in local fiscal relief
• More than $2.85 billion 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 4,767,000 adults and 1,841,300 children. This is 77% of all adults in the state and 73% of all children in the state.
• Additional relief of up to $1,600 per child through the Child Tax Credit to the families of 1,608,000 children, lifting 89,000 children out of poverty
• Additional relief of up to nearly $1,000 through the Earned Income Tax Credit to 356,000 childless workers, including many in frontline jobs
• Marketplace health insurance premiums that are $1,189 lower per month for a 60-year old couple earning $75,000 per year