What the $1.9 Trillion Stimulus Bill Means for Title Professionals

March 9, 2021

President Biden on March 11 signed into law the $1.9 trillion COVID-19 relief package passed by Congress. 

At the center of the plan is another round of economic impact payments of up to $1,400, a $300 weekly boost to jobless benefits until September and an expansion of the child tax credit for one year. There are also new funds for vaccine distribution and testing, rental assistance and K-12 schools for reopening costs. Lastly, the bill includes about $350 billion for state and local governments. Here’s a look at some of the provisions:

Stimulus Checks

Most Americans will receive $1,400 stimulus checks, which will be phased out for higher earners. Individuals earning an adjusted gross income (AGI) up to $75,000 (and married couples earning up to $150,000) are eligible for the full $1,400 each, plus $1,400 for each dependent. No individual with an AGI over $80,000 or couples earning over $160,000 will receive one. Heads of household earning up to $112,500 will receive the full amount, and it will phase out completely at $120,000 for those filers.

Unemployment Assistance

Federal unemployment benefits will be extended through the Pandemic Unemployment Assistance program will be extended through Aug. 29, 2021. The Pandemic Unemployment Compensation will $300 weekly.

Paycheck Protection Program

The bill includes more than $7 billion for the Paycheck Protection Program (PPP). Are you eligible for a second PPP loan? Deadline to apply is March 31.


An additional $20.3 billion in new money will be provided for rental assistance. This is on top of the $25 billion allocated in December. Meanwhile, bill includes $50 billion in assistance for small businesses, specifically $28.6 billion has been earmarked for restaurants. The National Restaurant Association said 110,000 restaurants have temporarily or permanently closed.

Foreclosure and Forbearance

The eviction and foreclosure moratorium has been extended through Sept. 30, 2021. The same extension has been issued as well for forbearances of federally guaranteed mortgages.

Family Tax Credits

There is a one-year increase for the child tax credit from $2,000 to $3,000. Expanded Paid Sick and Family Leave through Sept. 30, 2021.

Housing Assistance

There is $10 billion for a Housing Assistance Fund that will allow state housing finance agencies to help homeowners with COVID-19 hardships. Additionally, there is $100 million for housing counseling services.


The bill provides $350 billion to state and local governments, as well as $130 billion to schools to help them re-open safely.

Contact ALTA at 202-296-3671 or [email protected].