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In a release dated April 16, 2020, the Congressional Budget Office estimated that the CARES Act "will increase federal deficits by about $1.7 trillion over the 2020–2030 period." [ 156 ] Part of the reason this is less than the $2.2 trillion included in the CARES Act is that income and costs as part of the Treasury's emergency lending program ...
Phase three was the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"), a $2 trillion aid bill that provided checks to many Americans and forgivable loans to small businesses, signed into law on March 27, 2020. [11] The Paycheck Protection Program and Health Care Enhancement Act is referred to as "Phase 3.5" as it includes ...
President Trump signs the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), April 24, 2020. The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self ...
The Employee Retention Credit is equal to 50 percent of qualified wages paid to eligible employees between March 13, 2020, and December 31, 2020. [14] Eligible employee is defined differently depending on the size of the employer. If the employer averaged 100 or fewer full-time employees [h] during 2019, then all of its employees are eligible ...
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Coronavirus Aid, Relief, and Economic Security Act (CARES Act) – Includes $1200 stimulus checks, March 2020; Paycheck Protection Program and Health Care Enhancement Act – April 2020; Paycheck Protection Program Flexibility Act of 2020 – June 2020; A bill to extend the authority for commitments for the paycheck protection program – July 2020
In December 2020, the New York State Legislature passed a state moratorium on evictions. [11] In May 2021, the legislature extended the moratorium until August 31. [12] The Supreme Court struck down a provision of the state moratorium that protected people who filed a form declaring economic hardship, rather than providing evidence in court. [13]
CARES Act, enacted March 27, 2020; $2.2 trillion; HEROES Act, passed by the House of Representatives on May 15, 2020, but never enacted into law; $3 trillion; Consolidated Appropriations Act, 2021, enacted December 27, 2020; included $900 billion in COVID-19 relief; American Rescue Plan Act of 2021, enacted March 11, 2021; $1.9 trillion