CARES Act

Last Reviewed: May 2020

In response to the COVID-19 outbreak, Congress passed H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 27, 2020. The President signed the CARES Act into law on the same day. The CARES Act is intended as Phase III of federal government support in the wake of the coronavirus health crises and the associated economic fallout. The Act provides a package of over $2 trillion in stimulus to help combat the health crisis and send economic relief to workers and businesses affected by restrictions meant to stop the outbreak’s spread.