The Coronavirus Aid, Relief, and Economic Security Act will funnel $2.2 trillion to individuals and businesses, big and small. It will include an extra $600 a week to people who lose their jobs on top of their regular unemployment benefits. It will also include recovery rebates, which are one-time payments of twelve hundred dollars to adults who make up to seventy-five thousand dollars a year.
The CARES Act is a lot of money. But there’s no way to know whether it will be enough. Many economists say there’s a good chance that the economic damage from the pandemic will be much worse than members of Congress anticipated when they started legislating the bill. Which means there’s likely to be a lot more work for policymakers to do.
Read more here.
