As you probably already noticed, the President signed a $2 Trillion Stimulus bill on Friday, also called the CARES Act.
If you would like to review the entire bill, you can read the full 880 page text here.
Summary from Congress.gov is below:
This bill addresses economic impacts of, and otherwise responds to, the COVID-19 (coronavirus) outbreak.
The bill authorizes emergency loans to distressed businesses, including air carriers, and suspends certain aviation excise taxes.
With respect to small businesses, the bill:
The bill establishes limits on requirements for employers to provide paid leave.
With respect to taxes, the bill:
If you would like to review the entire bill, you can read the full 880 page text here.
Summary from Congress.gov is below:
This bill addresses economic impacts of, and otherwise responds to, the COVID-19 (coronavirus) outbreak.
The bill authorizes emergency loans to distressed businesses, including air carriers, and suspends certain aviation excise taxes.
With respect to small businesses, the bill:
- establishes, and provides funding for, forgivable bridge loans; and
- provides additional funding for grants and technical assistance.
The bill establishes limits on requirements for employers to provide paid leave.
With respect to taxes, the bill:
- establishes special rules for certain tax-favored withdrawals from retirement plans;
- delays due dates for employer payroll taxes and estimated tax payments for corporations; and
- revises other provisions, including those related to losses, charitable deductions, and business interest.
- provides additional funding for the prevention, diagnosis, and treatment of COVID-19;
- limits liability for volunteer health care professionals;
- prioritizes Food and Drug Administration (FDA) review of certain drugs;
- allows emergency use of certain diagnostic tests that are not approved by the FDA;
- expands health-insurance coverage for diagnostic testing and requires coverage for preventative services and vaccines;
- revises other provisions, including those regarding the medical supply chain, the national stockpile, the health care workforce, the Healthy Start program, telehealth services, nutrition services, Medicare, and Medicaid.
- temporarily suspends payments for federal student loans; and
- otherwise revises provisions related to campus-based aid, supplemental educational-opportunity grants, federal work-study, subsidized loans, Pell grants, and foreign institutions.