President Trump signed the CARES Act into law on March 27, 2020. With an estimated price tag in excess of $2 trillion, the CARES Act is intended to provide businesses and industries with a broad lending program designed to sustain working capital needs, provide immediate cash relief for middle and working-class Americans, and increase public health spending to combat COVID-19.
The CARES Act is divided into two divisions:
- Division A: Keeping Workers Paid and Employed, Health Care System Enhancements, and Economic Stabilization; and
- Division B: Emergency Appropriations for Coronavirus Health Response and Agency Operations
This plain language guide is meant to provide a summary of the CARES Act with respect to the 6 titles contained in Division A:
- Title I: Keeping American Workers Paid and Employed Act
- Title II: Assistance for American Workers, Families, and Businesses
- Title III: Supporting America’s Health Care System in the Fight Against the Coronavirus
- Title IV: Economic Stabilization and Assistance to Severely Distressed Sectors of the United States Economy
- Title V: Coronavirus Relief Funds
- Title VI: Miscellaneous Provisions
Read more in our latest COVID-19 Alert.