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Is the CARES Act enough?

The federal response to COVID-19 and why there may be more

RFP
The government is scrambling to address both the health and economic impacts of the COVID-19 pandemic. Congress has enacted three pieces of legislation so far.

Phase one included funds for:

  • Public health agencies
  • Emergency preparedness
  • Small business loans
  • Vaccines and other treatments

Phase two provided:

  • Direct support to families and individuals
  • Emergency paid leave
  • Nutrition assistance
  • Access to school lunches
  • Requirements for healthcare employers to develop exposure control plans

Phase 3 – The CARES Act, the largest stimulus bill in American history, provides:

  • Direct payments to individuals
  • $500B in lending for industries, states and localities
  • $350B in forgivable loans for small businesses
  • $150B for hospitals and supplies

But it’s likely not enough. Watch to learn more about the specifics of the three packages passed so far and to learn what may still be yet to come.