American Rescue Plan Fact Sheet: Impact on Colorado

by Joseph Robinette Biden

The American Rescue Plan: Impacts on Colorado

The Need for Action in Colorado

The pandemic and the associated economic crisis have had a severe impact on Colorado. The need for action is clear:

• Since the pandemic began, more than 436,602 people have been infected with COVID-19 and more than 5,989 people have died.
• The unemployment rate is 6.9%, up from 2.8% before the pandemic.
• Since February 2020, more than 108,622 fewer people are employed.
• 339,000 adults – 9% of all adults in the state – report not having enough food to eat. This includes 170,000 adults living with children, or 12% of all adults living with children, who report that the children in their household do not have enough to eat.
• An estimated 181,000 renters or 14% of renters are not caught up on rent.
• An estimated 1,395,000 adults or 33% of all adults statewide report having difficulty covering normal household expenses.

The Effect of the American Rescue Plan on Colorado

President Biden’s American Rescue Plan will provide Colorado with:

• $3.926 billion in state fiscal relief
• $2.088 billion in local fiscal relief
• More than $1.211 billion 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 3,365,700 adults and 1,364,600 children. This is 82% of all adults in the state and 81% of all children in the state.
• Additional relief of up to $1,600 per child through the Child Tax Credit to the families of 1,109,000 children, lifting 57,000 children out of poverty
• Additional relief of up to nearly $1,000 through the Earned Income Tax Credit to 299,000 childless workers, including many in frontline jobs
• Marketplace health insurance premiums that are $960 lower per month for a 60-year old couple earning $75,000 per year