American Rescue Act: What’s in it for Clubs?

 

On March 11, HR1319, known as the American Rescue Act, was signed into law. It is the largest COVID-related stimulus to date and includes rebate payments to individuals, unemployment insurance enhancement, and aid to state and local governments. Highlights of interest to the club industry include changes to the Payroll Protection Program, further extension of the Employee Retention Tax Credit (including the latest clarifying guidance from the IRS), and changes to the paid sick and family leave tax credits. Read more in the Legislative Report and access the up-to-date fact sheet on What Clubs Can Take Advantage Of, outlining all of the major COVID-related stimulus legislation. (Login Required)