On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law. The CARES Act is 880 pages long consisting of several different divisions and titles listed below. To help you understand the major provisions included, we are sharing an overview of the CARES Act prepared by legal counsel for the Council of Insurance Agents and Brokers, Steptoe and Johnson.
Division A—Keeping Workers Paid and Employed, Health Care System Enhancements, and Economic Stabilization
Title I—Keeping American Workers Paid and Employed Act, which includes paycheck protection and loan forgiveness, and small business contracting relief.
Title II—Assistance for American Workers, Families, and Businesses, which includes unemployment insurance and tax relief.
Title III—Supporting America’s Health Care System in the Fight Against the Coronavirus, which includes provisions related to medical supplies, health care coverage, and paid sick and family medical leave.
Title IV—Economic Stabilization and Assistance to Severely Distressed Sectors of the United States Economy, including relief to airlines, financial institutions, and sectors critical to national security.
Title V—Coronavirus Relief Funds
Title VI—Miscellaneous Provisions
Division B—Emergency Appropriations for Coronavirus Health Response and Agency Operations
Please visit our COVID-19 Resource Center for more information
Click here for a printable download.
