As President Biden prepares to mark his 100th day in office Thursday, he’s already succeeded in stabilizing the nation’s economy following one of the largest economic crises in generations, putting checks in pockets and helping small businesses re-open in New Hampshire and all across the country.
President Biden took office facing a truly reeling economy. Last year, our nation’s unemployment hit its highest rate nationwide since the Great Depression, and here in New Hampshire, the unemployment rate saw a more than sixfold increase year-on-year at the height of the pandemic.
Thanks to President Biden’s focus on getting the pandemic under control and the passage of his American Rescue Plan in March, relief is here for Granite Staters.
Through the American Rescue Plan, New Hampshire has received:
Economic impact payments of up to $1,400 per person (above the $600 per person provided in December) for more than 837,000 adults and 246,500 children. This is 82% of all adults in the state and 74% of all children in the state.
Additional relief of up to $1,600 per child through the Child Tax Credit to the families of 222,000 children, lifting 8,000 children out of poverty.
Additional relief of up to nearly $1,000 through the Earned Income Tax Credit to 71,000 childless workers, including many in frontline jobs.
Marketplace health insurance premiums that are $985 lower per month for a 60-year old couple earning $75,000 per year.
While President Biden and New Hampshire’s Congressional Delegation passed the American Rescue Plan to get stimulus checks to Granite Staters, Governor Chris Sununu said that he “would be a no” on the American Rescue Plan, including the $1,400 checks to New Hampshire families, child tax credits, earned income tax credits, and affordable health insurance.
“100 days into the Biden presidency, we’re seeing results: checks are in the pockets of working New Hampshire families, the lights are coming back on in Granite State small businesses, and one of the worst economic crises in generations is sliding into the rearview mirror,” said NHDP Chairman Ray Buckley. “We’ve still got a long way to go, but thanks to the leadership and swift action from President Biden and our incredible New Hampshire Congressional Delegation, things are looking up. With the passage of the American Rescue Plan, and eventually the American Jobs Plan, I’m certain these first months of the Biden Presidency will be long remembered as the moment our nation built back better than ever before.”