On March 27, 2020, the President signed into law the “Coronavirus Aid, Relief, and Economic Security Act,” or the CARES Act. This is the third phase of federal legislation in response to the COVID-19 outbreak. The estimated $2 trillion package cuts across nearly every segment of the economy, widely affecting companies and consumers alike, and is part of the ongoing effort to address the fall-out from the novel coronavirus and COVID-19.
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