Summary of the Coronavirus Aid, Relief and Economic Security (CARES) Act (Senate Substitute Amendment to H.R. 748)
After countless hours of negotiation between Congressional leaders and the White House, a final deal on the third coronavirus-related bill was reached and approved by the Senate just before midnight on March 25, 2020. The Senate approved the measure with a vote of 96-0; and the House is expected to pass the bill on Friday. The nearly $2 trillion stimulus measure – the Coronavirus Aid, Relief and Economic Security (CARES) Act has relief for both the private and public sector, as well as individual Americans. Below is a summary of the CARES Act1, beginning with emergency appropriations for the various federal agencies.
Emergency Appropriations for Coronavirus Health Response and Agency Operations
The grant and loan funds contained within the CARES Act universally may be used “to prevent, prepare for, and respond to coronavirus.”
To see an overview report of the entire bill, click here. OEPA will be reviewing the CARES act and will soon release information focused on small business provisions.