The CARES Act is a $2.2 trillion bill designed to address the economic fallout from the rapid spread of the coronavirus. The legislation is considered an unprecedented attempt by the federal government to hold up the economy and prevent a deep recession. By comparison, the 2008 Troubled Asset Relief Program (TARP) was a $700 billion bill.
The bill is intended to have a far-reaching effect by directing money toward workers, small businesses, and industries that have been harmed by the economic downturn related to COVID-19.
Below is a list of key provisions in the bill.
Direct Cash Payments
Emergency Retirement Plan Withdrawals
Housing and Public Health
Protecting the Vulnerable
Protecting Homeowners and Renters from Foreclosure and Eviction
Payment Protection Program and Loan Forgiveness
Small Business Debt Relief
Emergency Economic Injury Disaster Loan (EIDL) Grants
Entrepreneurial Development Programs
Ensuring Banks and Credit Unions Can Continue Lending
Health Care Supplies, Services, and Workers
Mitigating the Impact of the Virus
Ensuring Access to Quality and Affordable Care
Relief for Health Care Providers
College and K-12 Students
Exchange Stabilization Fund
Jeanne For Congress
PO Box 1504 • Wheaton, IL 60187
Phone: 630-384-9683 • Email: [email protected]