The CARES Act

The reason why President Trump signed the CARES bill is to give the economy a boost because of the corona outbreak many people technically became jobless, and many small and large businesses started struggling, along with stocks, and much more. He thought that it was a good thing because it would help out the economy and the people of America.

The CARES law is to provide a $1200 check to those whose income is less than $7500. The amount of the checks will vary depending on the income, whether you are single or not, and if you have dependents, etc. If the families have children under 17, they will receive an additional $500. Those who are employed because of the corona outbreak will receive an extra $600 weekly. For those who are paying student loans, the loans and interests will be waived for two months. Regarding retirement homes and small businesses, they will be able to take out /apply for loans.

How it will benefit businesses:
The CARES Act will help businesses with the $500 billion lending program, which helps with $500 billion in loans, investments, etc. The good thing about this is that they won't be payments due for the first 6 months the loan is issued, which I think is helpful since businesses will have at least some time to get back on their feet. The stimulus package will provide around $117 billion for the hospitals as a way to help for the expenses and the people working due to the virus. a $100 billion fund is created to reimburse for expenses and lost revenues. $65 billion will go to the hospitals and their crew.  The independent contractors and gig workers are eligible to receive federal aid. the bill will also include housing protections against foreclosure on mortgages and eviction for renters.