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The American Rescue Plan: Impacts on Georgia
The Need for Action in Georgia
The pandemic and the associated economic crisis have had a severe impact on Georgia. The need for action is clear:
- Since the pandemic began, more than 1,023,487 people have been infected with COVID-19 and more than 17,906 people have died.
- The unemployment rate is 5.3%, up from 3.5% before the pandemic.
- Since February 2020, more than 192,477 fewer people are employed.
- 960,000 adults – 14% of all adults in the state – report not having enough food to eat. This includes 421,000 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 548,000 renters or 23% of renters are not caught up on rent.
- An estimated 2,779,000 adults or 37% of all adults statewide report having difficulty covering normal household expenses.
The Effect of the American Rescue Plan on Georgia
President Biden’s American Rescue Plan will provide Georgia with:
- $5.073 billion in state fiscal relief
- $3.559 billion in local fiscal relief
- More than $4.345 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 6,255,700 adults and 2,919,400 children. This is 88% of all adults in the state and 88% of all children in the state.
- Additional relief of up to $1,600 per child through the Child Tax Credit to the families of 2,274,000 children, lifting 171,000 children out of poverty
- Additional relief of up to nearly $1,000 through the Earned Income Tax Credit to 572,000 childless workers, including many in frontline jobs
- Marketplace health insurance premiums that are $1,406 lower per month for a 60-year old couple earning $75,000 per year
