In response to Congress passing and President Biden signing the federal stimulus legislation known as the American Rescue Plan, REBNY President James Whelan released the following statement:
“The American Rescue Plan represents a key step forward in efforts to rebuild New York’s economy and ensure a strong recovery. We are grateful to the Biden Administration and Congress for delivering this critical aid and we especially applaud Senate Majority Leader Chuck Schumer and New York’s congressional delegation, whose leadership and tireless advocacy helped make this possible.
“The Plan’s state and local aid will help address New York’s significant fiscal and budgetary challenges, support vaccine distribution efforts and shore up our vital mass transit system. Robust rental assistance will help address the urgent needs of residential and commercial tenants and owners across New York who are still struggling to pay rent, mortgages and property taxes. Additionally, targeted relief for small businesses will provide a lifeline to the restaurants, retailers, entertainment and cultural institutions and other establishments that make up the fabric of New York and its diverse communities.
“Now that the federal government has stepped up to support New York in its moment of need, it will be important for our City and State elected officials to distribute aid swiftly and effectively while also building on this momentum with policies that create good jobs, produce more housing and engage the private sector to promote economic activity and generate new tax revenue.”
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