Saved over 13 million Americans an average of $800 a year on their health premiums.Lowered Health Care Premiums by $800 for over 13 Million Americans: ARP lowered health care premiums – which were extended by the Inflation Reduction Act, increased eligibility to middle- income families and provided strong incentives for states to expand Medicaid through the Affordable Care Act. It kept foreclosures historically low and evictions 20% below historic averages even after the end of the CDC Eviction Moratorium.ģ. Least scarring in any recovery in memory: The American Rescue Plan led to the fastest drop in long-term and youth unemployment ever, which both now stand at pre-pandemic levels.Asian American unemployment fell significantly as well – falling by more than half from its January 2021 rate. Historic drops in Black and Hispanic Unemployment: With the strong recovery powered by ARP, Black unemployment saw its largest 1-year drop since 1984 and is near record lows Hispanic unemployment saw its fastest 1-year drop and reached its lowest annual rate ever in 2022.President Biden’s Rescue Plan ensured that didn’t happen this time: Powered the Most Equitable Recovery in Memory: In past recessions, persistent high long-term and youth unemployment as well as high foreclosures of evictions led to long term harms – “scarring” for millions of Americans and hard, long roads back for Black and Hispanic Americans. Powered the Fastest Recovery in the World: After the American Rescue Plan passed, the US recovered significantly faster than our G7 Peers – with 5.9% growth in 2021 – while our inflation is in the middle of the pack and slower than other countries that did significantly less to help their economies recover.Ģ.ARP Drove the Strongest 2-year job growth ever: Over 12 million jobs have been added since President Biden took office – the largest 2-year total in US history and more jobs in two years than in any previous administration’s full year term.

With the passage of ARP, unemployment averaged 3.6% in 2022 and fell to 3.4% at the beginning of 2023. Unemployment was at 6.1% when ARP passed. Led to the Strongest Jobs Recovery on Record: When President Biden came into office, there was tremendous economic uncertainty.

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