The Coronavirus Aid, Relief, and Economic Security (CARES) Act which was passed by the Senate late Thursday night, March 26, 2020, is aimed at providing a massive stimulus to workplaces and employees. The House approved the CARES Act Friday noon, and President Trump should sign it into law soon. The CARES Act would provide federal loans to small- and medium-sized businesses to cover payroll and other expenses. In some cases, these loans would be forgivable. Unemployment benefits for those impacted by the pandemic would be expanded and extend unemployment eligibility to many who are not currently entitled to receive the benefits. What do employers need to know? Click here to read a summary of the CARES Act Stimulus by Fisher Phillips, employment law experts providing services to UniqueHR.
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