Stimulus Gives Brokers Lifeline, but May Not Be Enough for Deluge of Unemployed
Labor, Employment and Benefits Attorney Phillip Schreiber spoke with The Real Deal about the federal government's $2 trillion relief package as it relates to real estate brokers. In past crises, those workers were usually left out of government bailouts, however through the Small Business Administration the Coronavirus Aid, Relief and Economic Security (CARES) Act provides some relief.
“Normally, self-employed or independent individuals are not able to take advantage of a lot of these programs, at least not in this capacity.” Mr. Schreiber said. He noted that Washington lawmakers acted quickly and with force in an attempt to prop up workers so they’ll be in a position to hit the ground running once the pandemic subsides. “I think that’s why you see this expansion to a group of people that are not traditionally covered,” Mr. Schreiber said.