As you know, late last night the Senate passed the $2.2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act and is expected to be passed by the House shortly. While much more specific guidance is anticipated in the coming days and weeks, a summary of major provisions of the Act is attached.
We will share developments in the guidance as it evolves and expect it to come on an accelerated pace. Many of the issues relating to provisions within the CARES Act and last week’s enacted Families First Coronavirus Relief Act (FFCRA) will necessitate consultations with our firm as well as conversations with your legal counsel and your banking or other financial institution representatives. Click Here to read the entire brief.