How the $2 trillion stimulus package will impact business
COVID-19 has had an unimaginable impact on nearly every aspect of daily life for consumers and businesses alike around the world. Currently, the disease shows no sign of slowing down, and the concern for how this will impact American lives and businesses continues to grow. With the rising concern of the economy, the U.S. Congress has responded in a big way, negotiating a historic, bi-partisan $2 trillion stimulus package in hopes of breathing life into our struggling economy.
The stimulus package will offer relief to consumers and businesses alike, and like most legislation, can be complex, so we’ll outline some of the major provisions that will impact businesses in today’s blog post.
What is included in the stimulus package?
The Coronavirus Aid, Relief and Economic Security (CARES) Act, is the largest economic stimulus package in modern history. The bill includes $2 trillion in tax provisions and other stimulus measures, including emergency business lending. The infusion of cash promises to provide assistance for struggling American businesses and families, as well as healthcare workers that are standing on the front lines of the battle against COVID-19.
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