Coronavirus Aid, Relief, and Economic Security Act (CARES Act)

The Coronavirus Aid, Relief, and Economic Security (CARES) Act is a $2.2 trillion law passed in March 2020 to help individuals, businesses, and healthcare providers cope with the economic impact of COVID-19. It provided direct financial payments to many Americans, expanded unemployment benefits, delivered loans and grants to businesses, and increased funding for hospitals. The goal was to stabilize the economy, support employment, and ensure healthcare systems could handle the crisis during the pandemic.