Last week, President Biden signed the American Rescue Plan Act - a $1.9 trillion economic stimulus bill. Here are some key provisions that will help advance our priorities:
- Public Transit: Provides $30 billion for transit agencies who have been deeply impacted by the pandemic and forced to cut service and jobs in 2020.
Our 2021-2022 Public Policy Agenda calls for revitalizing development around our existing transit hubs and funding multimodal transit that better connects residents to jobs, goods, and services.
- Broadband: Invests $7 billion in broadband so millions of public school students will receive the internet services they need for their education.
We are a strong advocate for affordable, high-quality broadband in digitally divided communities, understanding that Cleveland’s unaffordable and unreliable internet service options prevent economic progress. Our long-term success hinges on a strong partnership with local governments, the state of Ohio, federal partners and the private sector.
- Small Business Support: Provides $15 billion in additional relief for the nation’s small businesses and hard-hit industries through increased funding for Targeted EIDL grants; $25 billion in funding for a new dedicated grant relief program for restaurants; $7 billion for expanded PPP assistance for nonprofits and digital news services; and $1 billion in Save Our Stages grants for independent live venues, independent movie theaters and cultural institutions.
Our agenda lays out our federal priorities to build wealth for minority entrepreneurs and small businesses but doing so will mean addressing disparities in lending.