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
Can Investing in the Stock Market Save Social Security?
Given Social Security’s unsustainable finances, some policymakers have proposed incorporating stock market investments as part of a solution.
Social Security Reform: Lessons From the Greenspan Commission
As the conditions of the 1980s mirror that of today, a commission is a viable and helpful framework worthy of consideration.
The President’s Budget Doesn’t Address National Debt, and Calls for Highest Defense Spending in History
For the second year in a row, the Trump Administration has submitted a budget that excludes key fiscal variables such as debt and deficit projections.