The CARES Act

The CARES Act, or Coronavirus Aid, Relief, and Economic Security Act, was a U.S. law enacted in March 2020 to address the economic impact of the COVID-19 pandemic. It provided financial assistance to individuals and businesses through direct payments, expanded unemployment benefits, and loans for small businesses. The act aimed to support healthcare providers and promote economic recovery by stabilizing the economy during a challenging time. Ultimately, the CARES Act represented one of the largest economic stimulus packages in U.S. history, designed to help mitigate the financial fallout from the pandemic.