The American Rescue Plan: Impacts on Nebraska
The Need for Action in Nebraska
The pandemic and the associated economic crisis have had a severe impact on Nebraska. The need for action is clear:
- Since the pandemic began, more than 203,027 people have been infected with COVID-19 and more than 2,113 people have
- The unemployment rate is 4%, up from 3% before the pandemic.
- Since February 2020, more than 22,930 fewer people are
- 128,000 adults – 10% of all adults in the state – report not having enough food to eat. This includes 49,000 adults living with children, or 10% of all adults living with children, who report that the children in their household do not have enough to eat.
- An estimated 45,000 renters or 11% of renters are not caught up on
- An estimated 404,000 adults or 30% of all adults statewide report having difficulty covering normal household expenses.
The Effect of the American Rescue Plan on Nebraska
President Biden’s American Rescue Plan will provide Nebraska with:
- $1.2 billion in state fiscal relief
- $685 million in local fiscal relief
- More than $564 million 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 1,205,400 adults and 520,100 This is 90% of all adults in the state and 89% of all children in the state.
- Additional relief of up to $1,600 per child through the Child Tax Credit to the families of 434,00 children, lifting 18,000 children out of poverty
- Additional relief of up to nearly $1,000 through the Earned Income Tax Credit to 104,000 childless workers, including many in frontline jobs
- Marketplace health insurance premiums that are $2,438 lower per month for a 60-year old couple earning $75,000 per year