COVID-19 Round 3 in D.C.: CARES Act Summary
Please note: This alert will be updated periodically with new developments. This was last updated on March 27, 2020.
Congress has completed three rounds of legislation in response to the COVID-19 pandemic and resulting economic crisis. These include an $8.3 billion supplemental appropriation (round 1) signed into law on March 6, as well as the Families First Coronavirus Response Act (round 2), which President Trump signed into law on March 18.
The third round, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), is a $2 trillion package that includes significant expansions in small business lending, unemployment insurance, tax relief to individuals and employers, health care measures, $500 billion in economic stabilization funds, $274 billion in emergency appropriations, and other measures aimed at combating the COVID-19 health care and economic crisis. The president signed the CARES Act into law on March 27, 2020.
In addition, this Holland & Knight alert provides a summary of the CARES Act's funding for programs of interest to local governments.
DISCLAIMER: Please note that the situation surrounding COVID-19 is evolving and that the subject matter discussed in these publications may change on a daily basis. Please contact the author or your responsible Holland & Knight lawyer for timely advice.
Information contained in this alert is for the general education and knowledge of our readers. It is not designed to be, and should not be used as, the sole source of information when analyzing and resolving a legal problem. Moreover, the laws of each jurisdiction are different and are constantly changing. If you have specific questions regarding a particular fact situation, we urge you to consult competent legal counsel.