The American Rescue Plan
On March 11, President Biden signed the American Rescue Plan (ARP) that includes funding for the National Endowment for the Arts to support organizations and jobs in the arts sector that have been impacted by the pandemic. The $135 million allocated for the Arts Endowment in this historic legislation represents a significant commitment to the arts and a recognition of the value of the arts and culture sector to the nation’s economy and recovery.
On April 29, the Arts Endowment announced the 40 percent portion of the ARP allocation directed to regional arts organizations and state arts agencies for distribution through their funding programs. Applications for the remaining funds are being processed and will be announced in the fall.
The American Rescue Plan’s extension of pandemic unemployment assistance, health insurance coverage, food and rent assistance, and direct stimulus checks also provides immediate assistance to our sector’s creative workers. (See here for a description of the legislation) Outside of the allocation for the Arts Endowment, here are additional components of the plan that impact the arts community:
- $135 million for the National Endowment for the Humanities
- $200 million for the Institute of Museum and Library Services
- $175 million for the Corporation for Public Broadcasting
- An additional $7.25 billion for the Paycheck Protection Program (PPP)
- An additional $1.25 billion for the Shuttered Venue Operators Grant (SVOG) program will provide a new infusion of assistance to self-employed workers and businesses of all types within the creative sector. SVOG was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act to include the additional funds and to amend qualifications for the grants to include those who had previously received loans through the Payroll Protection Program. The program now includes over $16 billion in grants to shuttered venues, to be administered by SBA’s Office of Disaster Assistance.
- $1,400 stimulus payments for adults and any dependents in households with earnings of less than $80,000 for single filers, $120,000 for Head of Household filers, and $160,000 for married couples filing jointly and expanded Child Tax Credit for households with children.
- Extending the additional unemployment compensation of $300 until September 6, 2021.