Specifics of CARES Act and Implications for Businesses and Individuals

The Coronavirus Aid, Relief, and Economic Security Act or the CARES Act, which was passed by the U.S. Senate on March 25, 2020, and is expected to pass the House soon, includes significant provisions that affect American citizens personally and professionally. Importantly, the CARES Act is a stimulus bill that releases over $330 billion of federal funding to help maintain and/or boost the economy by supporting American institutions, including national businesses, large and small.