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The American Rescue Plan: Impacts on Illinois
The Need for Action in Illinois
The pandemic and the associated economic crisis have had a severe impact on Illinois. The need for action is clear:
- Since the pandemic began, more than 1.1 million people have been infected with COVID-19 and more than 23,000 people have died.
- The unemployment rate is 8%, up from 3.6% before the pandemic.
- Since February 2020, more than 468,000 fewer people are employed.
- 860,000 adults – 11% of all adults in the state – report not having enough food to eat. This includes 536,000 adults living with children, or 17% of all adults living with children, who report that the children in their household do not have enough to eat.
- An estimated 525,000 renters or 20% of renters are not caught up on rent.
- An estimated 3.1 million adults or 35% of all adults statewide report having difficulty covering normal household expenses.
The Effect of the American Rescue Plan on Illinois
President Biden’s American Rescue Plan will provide Illinois with:
- $8.2 billion in state fiscal relief
- $5.2 billion in local fiscal relief
- More than $5.2 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 7.5 million adults and 3 million children. This is 85% of all adults in the state and 83% of all children in the state.
- Additional relief of up to $1,600 per child through the Child Tax Credit to the families of 2.5 million children, lifting 153,000 children out of poverty
- Additional relief of up to nearly $1,000 through the Earned Income Tax Credit to 620,000 childless workers, including many in frontline jobs
- Marketplace health insurance premiums that are $1,266 lower per month for a 60-year old couple earning $75,000 per year
