U.S. Department of the Treasury
The COVID-19 public health crisis and resulting economic crisis have created a variety of challenges for small, micro, and solo businesses in communities across the country. The Treasury Department is providing critical assistance to small businesses across the country, facilitating the urgent deployment of capital and support to help these organizations not just persevere, but recover on solid footing.
Small Business Tax Credit Programs
The American Rescue Plan extends a number of critical tax benefits, particularly the Employee Retention Credit and Paid Leave Credit, to small businesses.
Emergency Capital Investment Program
The Emergency Capital Investment Program support the efforts of low- and moderate-income community financial institutions.
Paycheck Protection Program
The Paycheck Protection Program is providing small businesses with the resources they need to maintain their payroll, hire back employees who may have been laid off, and cover applicable overhead.
U.S. Department of the Treasury
The American Rescue Plan provided critical assistance to millions of Americans as well as State, Local and Tribal governments, Housing Authorities, and small businesses. From preventing hundreds of thousands of American homeowners from mortgage delinquency and default to broadband projects in New Hampshire and workforce development initiatives in Arizona, the American Rescue Plan’s programs have had a significant economic impact and will continue to do so in the years to come. Read about the impact of the first three years of the American Rescue Plan programs in the impact report.
American Rescue Plan Impact Stories
The American Rescue Plan Act is providing support to families across the country to help access stable and affordable housing. In addition, more than 2,000 governments across the country have invested more than $13 billion made available under the American Rescue Plan to support and expand their workforces. Read some of the stories of families and communities across the country who benefitted from the American Rescue Plan’s investments in housing and the workforce.
Office of Recovery Programs Learning Agenda
Treasury’s Office of Capital Access (formerly known as the Office of Recovery Programs) has released an Economic Recovery Learning Agenda which identifies the important research areas that can help Treasury 1) learn about how recovery programs can be implemented effectively and equitably; 2) identify and highlight the outcomes of recovery programs; and 3) share lessons about how to implement recovery programs during future economic crises. This learning agenda, which was issued under the name of the Office of Recovery Programs, is based on extensive stakeholder feedback that Treasury received in response to a draft version of the learning agenda that was released in spring 2023. The learning agenda is designed to identify the important evaluation questions to understand the impact of economic recovery programs and can be used to guide specific research by Treasury, other federal partners, external researchers, or recipient governments. Researchers and evaluators interested in collaborating with Treasury on research should contact Treasury’s Evaluation Officer team at OSPPI@Treasury.gov
Office of Capital Access Self-Service Resources
The Office of Capital Access is providing self-resources to assist recipients of awards from its programs with questions about reporting, technical issues, eligible uses of funds, or other items. View a complete list of available self-service resources.
American Rescue Plan: Two Years Report
In total, the Treasury Department is responsible for managing over $1 trillion in American Rescue Plan programs and tax credits. Read about the impact of the first two years of the American Rescue Plan programs in the impact report.
https://home.treasury.gov/policy-issues/coronavirus/assistance-for-small-businesseshttps://home.treasury.gov/policy-issues/coronavirus
