Coronavirus Aid, Relief, and Economic Security Act (CARES Act), H.R. 748
April 3, 2020
Brief Summary of Top-Line Items
- Largest relief legislation ever passed by Congress
- Represents one-half of all federal spending on an annual basis
- Includes $150 billion in direct aid to states, territories, tribes, and local governments
- Individual checks of $1200 sent directly to many Americans and $500 for children
- Loan program for small businesses of $377 billion
- $500 billion lending fund for businesses, cities and states
