The CARES Act
2020 – 03/26 Late on March 25, the U.S. Senate passed the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) by a vote of 96-0. The bill, which provides $2 trillion in coronavirus (COVID-19) relief, will now move to the U.S. House of Representatives for consideration. The House is expected to vote on the bill on March 27. The proposed law contains a wide variety of relief, including small business loans, expanded unemployment aid, $100 billion for hospitals and health systems, funds for industries hit by the virus and direct cash payments to individuals under a certain income threshold. We’ll provide more information as it becomes available.