Omidyar Network Applauds Enactment of the American Rescue Plan

By Beth Kanter, Chief Advocacy & Strategic Communications Officer

The past year has seen working Americans struggle amidst a global pandemic and economic crisis, further exacerbating the deep, structural inequities in our society. Over and over again, the rules, ideas, and power that lie at the heart of our economy and democracy have rewarded the few at the expense of the many. In order to build a truly equitable and inclusive society, these trends must be quickly reversed. President Biden signing the American Rescue Plan into law today moves us one step closer to that vision.

Because of critical aid in the American Rescue Plan, child poverty in the United States is expected to drop by half. More than one million unionized working people who faced the prospect of losing their pensions will now receive full retirement benefits for at least the next 30 years. The government will be sending direct relief checks to the majority of Americans who earn less than $75,000 a year. Unemployed Americans will receive an extra $300 on top of their current benefits through the end of this summer. State and local governments will finally get urgently needed aid so they don’t have to make harmful cuts or enact layoffs.

This $1.9 trillion investment in families will help set us on a course toward an economy that works for all Americans. While there is still much to be done, Omidyar Network welcomes this momentous piece of legislation and we look forward to collaborating with our partners, grantees and policy makers to continue the path forward to a more equitable and inclusive society.