Coronavirus Relief Bill: What Coloradans Need To Know

More aid for cash-strapped and pandemic-weary Coloradans could soon be on the way now that the United States House of Representatives Wednesday passed a final version of the $1.9 trillion coronavirus relief package.

The goal was to pass the American Rescue Plan, which aims to combat the pandemic and bolster the U.S. economy, and deliver it to President Joe Biden by March 14 — the day emergency jobless benefits expire. Biden is supposed to sign the bill Friday, according to media reports.

“I congratulate the United States Congress on passing President Biden’s Stimulus bill," Gov. Jared Polis said in a statement.

"This federal stimulus package provides $1400 per person to most Coloradans, rent assistance, and as well extends several necessary unemployment benefits. This relief package also directly assists restaurants and other small businesses struggling during this economic crisis caused by COVID-19. I’m grateful to Colorado’s federal delegation members who voted in favor of this federal package.”

As with the Senate version, House Republicans were unanimous in their opposition to the bill.

Stimulus Checks

Most notably, the measure will provide the much-anticipated $1,400 payments to people who meet certain income criteria.

The maximum amount for the third round of stimulus checks will be $1,400 for any eligible individual or $2,800 per eligible couple filing taxes jointly. Each eligible dependent — including adult dependents — also will qualify for a payment of $1,400. That means a family of four could receive as much as $5,600 in total.

Checks of up to $1,400 will go to people making $80,000 or less, single parents earning up to $120,000 and couples with household income of less than $160,000.

Checks sent to direct deposit accounts could start going out the week of March 17, according to CNET. Paper checks could start being mailed the following week.

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Child Tax Credit

One big benefit that could help families around the country is a boost in the child tax credit.

The credit, which is now at a maximum of $2,000, is being raised to as much as $3,600 per child under 6 and $3,000 per child between the ages of 6 and 16 for 2021. It will be paid out in monthly installments starting in this July and will include more low-income households.

The expanded credit begins to phase out for those earning $75,000 a year or $150,000 for couples.

“I want to commend Senator Michael Bennet’s leadership on this package, which includes a landmark child tax credit that will lift millions of children out of poverty," Polis said.

"This credit is the result of years of hard work on behalf of Colorado’s families. When our children rise, we all rise.”

More Federal Aid

In addition to direct payments, the legislation would provide hundreds of billions of dollars for schools and colleges, coronavirus vaccines and testing, mass transit systems, renters and small businesses.

It also has money for child care and assistance for states willing to expand Medicaid coverage for low-income residents.

Federal unemployment payments of $300 per week will be extended through Sept. 6.

An increase in the minimum wage was not a part of the House bill that just passed.

Colorado Recovery Plan

The plan, which was announced Wednesday, is a bipartisan state stimulus that will invest around $700 million into helping Colorado recover.

"Coupled with the federal stimulus, we are optimistic about the path ahead and look forward to providing support to our families, building roads and bridges, investing in rural Colorado, and strengthening our small business and developing our workforce," Polis said in a statement.

"Through this collaboration, we can build a Colorado that works for all.”

Patch Editor Michael Woyton contributed to this report.