What’s in the CARES Act? Here’s a Summary
On March 27, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the third phase of legislation designed to lessen the economic impact of the COVID-19 pandemic.
The largest emergency response bill in history, the CARES Act allocates nearly $2 trillion in emergency funding to provide relief to households, small and large businesses, states and municipalities, and healthcare providers, among others. Many commentators have noted that the CARES Act is better characterized as a relief bill, which addresses the more immediate fallout, than a stimulus plan, which would restore regular economic activity and is expected to roll out in subsequent phases.
This infographic breaks down the CARES Act to explain some key funding items in the legislation.
Further Reading
Growing Momentum for a Fiscal Commission in Congress
A fiscal commission would provide the space and structure for lawmakers to comprehensively review the entire budget and improve the fiscal path of the U.S.
86 Ways to Reform the Tax Code — and Why It’s Only Half the Solution
Tax policy is about trade-offs between how much revenue a tax will raise, who will bear the burden, and how a change will impact economic incentives.
In Their Own Words: Debt a Critical Issue for Voters in 2026 Election
Voters understand that the national debt has become too big to ignore as a major factor in America’s affordability crisis.