![]() Hospitals and clinics, as well as health initiatives like the CDC and the Strategic National Stockpile, qualify for specific CARES funding in order to meet the influx of new patients.Īnd social safety net programs that ensure food security-like food stamps, child nutrition programs and food banks-will be bolstered with the new bill. “The payroll grants we won in this bill will save hundreds of thousands of jobs and will keep working people connected to health care many will need during this pandemic,” Nelson added.) (Sara Nelson, the president of the Association of Flight Attendants union, calls the bill “ an unprecedented win for frontline aviation workers and a template all workers can build from.” The money comes with stipulations: no stock buybacks, reporting requirements, and oversight from “ a special inspector general to oversee pandemic recovery.” ( Ronnie Pitman / Flickr)īig businesses will see huge relief from this bill-especially the airlines, allotted $58 billion to stay afloat. A shopping district that is usually bustling with shoppers and crowded with cars. ![]() Small businesses qualify for grants, loans and loan relief. Insurance coverage: The bill requires all private insurance plans to cover COVID-19 treatments and vaccine and makes all coronavirus tests free.Extension of the tax deadline, from April 15 to July 15.The program will also expand who is deemed eligible, like gig workers and freelancers. A boost to unemployment payments: Unemployment assistance benefits will increase-$600 per week from the federal government on top of whatever base amount a worker receives from the state.Direct cash payments: Most people earning less than $75,000 can expect a one-time cash payment of $1,200, plus $500 per child.Individual relief comes in many forms, such as: ![]() ( ) Included: Relief for Individuals, Businesses and States The CARES Act is the third piece of major legislation aimed at combatting the effects of the coronavirus-and the most expensive piece of legislation ever passed to date, more than doubling the stimulus act passed in 2009 during the financial crisis.īroadly speaking, there are five components to the COVID-19 stimulus bill: ( ) The anatomy of the CARES Act. Known as the CARES (Coronavirus Aid, Relief, and Economic Security) Act, a $2.2 trillion coronavirus stimulus package was signed into law last week.
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