On March 27, Congress passed and the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) in response to the COVID-19 global pandemic. The bill is a $2+ Trillion dollar fiscal stimulus package that was designed to help ease the significant economic damage this disease has caused. The bill, being almost 900 pages long, has too many aspects to explain appropriately in this format, so we are going to highlight the major components of the bill that may be more significant to households.
What’s in the CARES Act?
Financial Assistance for Corporations, States, and Municipalities
Financial Assistance for Small Businesses
Direct Payments to People
Unemployment Benefit Expansion
Aid to Health Care Professionals and Hospitals
The key provisions of the CARES Act that are directed toward households include: