The Coronavirus Aid, Relief, and Economic Security (CARES) Act seeks to offset the impact COVID-19 has had and will continue to have on the U.S. workforce and economy. It was signed into law on March 27, 2020. The law authorizes a number of credits, rebates and loans. For small business owners, and other eligible applicants the largest pool of support is contained in the $349 billion Paycheck Protection Program.
The new law infuses $2 trillion into the U.S. economy through a combination of business loans, unemployment benefits, tax credits, and other benefits.