American Rescue Plan preview

Democrats release stimulus bill text

We’re beginning to see what in the $1.9 trillion COVID package as Congress enters a three-week dash to the finish line.

A quick scan of the 591-page proposal reveals a few key provisions that may be of interest to TASC Clients and Participants…

  • COBRA Subsidies – would allow workers who are eligible for COBRA due to involuntary termination or reduction in hours to receive coverage under their employment-based health plan with a premium reduction of 85 percent through September 30, 2021.
  • Dependent Care – would increase the dependent care FSA cap from $5,000 to $10,500 in 2021.

House leadership has teed up the legislation for a floor vote on Friday or Saturday, which will then punt the action over to the Senate as early as next week. The White House hopes to have it signed into law by March 14 when supplemental federal unemployment benefits are set to expire.

Expect TASC Gov. Affairs to provide a detailed breakdown upon final passage.

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