The City of Philadelphia estimates it will receive $1.4 billion from the American Rescue Plan and that more than 1 million city residents will receive stimulus checks from the federal government, the Philadelphia Business Journal reports.
The $1.9 trillion stimulus package signed into law by President Joe Biden last week allocates $350 billion to state, city and tribal governments to help cover costs related to COVID-19 and replace lost revenues.
The city projected a budget gap totaling around $450 million after costs increased due to the pandemic and city revenues fell below expectations. Officials warned of possible “painful” cuts to city programs and that everything from tax increases to program cuts were on the table.
Read more about how the Recovery Act funds will affect Philadelphia at PBJ.com.
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