• Home
  • About Us
  • Group Benefits
    • Group Health
    • Group Dental
    • Group Life
    • Group Disability
  • Individual Insurance
  • Carrier-Partners
  • Contact Us
  • Blog
  • Testimonials
Lubenow Agency
856-866-2020 or 908-272-1812

CARES Act signed by President Trump on Friday, March 27, 2020

3/30/2020

0 Comments

 
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:
  • establishes, and provides funding for, forgivable bridge loans; and
  • provides additional funding for grants and technical assistance.
The bill also provides funding for $1,200 tax rebates to individuals, with additional $500 payments per qualifying child. The rebate begins phasing out when incomes exceed $75,000 (or $150,000 for joint filers).
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.
With respect to health care, the bill
  • 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.
With respect to education, the bill
  • 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.
The bill also authorizes the Department of the Treasury to temporarily guarantee money-market funds.
0 Comments



Leave a Reply.

    Doug Lubenow

    See bio on the author

    Archives

    April 2020
    March 2020
    June 2017
    February 2016
    September 2015
    August 2015
    July 2015

    Categories

    All

    RSS Feed

    Call Now: 1-856-866-2020 OR 1-908-272-1812

Locations

214 West Main Street, Suite 101
​Moorestown, NJ 08057
15 Alden Street Suite #8
​Cranford, NJ 07016

What Our Clients Are Saying



"Best service, professional and thorough
Lubenow Agency has provided medical, dental, long term disability, life and accidental death insurances to our company for many long years. Each year, prior to our renewal, we are shown the options, any changes in the benefits and the pricing applicable to the various choices. They are a highly experienced team with an excellent support staff. Our people often call them to inquire about their coverage if our management cannot answer their questions. This saves our company a lot of time. Many of us also have various personal life insurance policies with them. One time they even provided me an excel spreadsheet of my personal policies listing all the details that I requested, expiration date, coverage amounts, payment due dates, etc. Service doesn't get better than this! We highly recommend them."

Contact Us

Subscribe

Join our mailing list today!
Join Now