CARES Act Summary

On March 26th, the Senate passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, an approximately $2.2 trillion relief package to address the rapidly growing COVID-19 public health emergency, on a vote of 96-0. The four missing Senators were in isolation due to confirmed or potential COVID-19 infection. The House then passed the law by voice vote on March 27th, and President Trump signed the law on the same day. The CARES Act is the largest relief package in U.S. history. Prior to the COVID-19 pandemic, the federal budget for this fiscal year was expected to be roughly $4.7 trillion.

SPG’s summary is available here. The final text of the law is available here.