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The American Rescue Plan Act (ARPA) of 2021 passed Congress, and President Biden signed the bill into law on March 12. The ARPA approves $1.9 trillion in spending for individuals, businesses, governments and certain industries impacted by the COVID-19 pandemic. The third act in a year, the ARPA approves additional economic impact payments for individuals; the extension of federal unemployment benefits; additional funds for Paycheck Protection Program (PPP) loans and…