2020 CARES Act Update
The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act is a federal law that directs $2 trillion in funding to COVID-19 relief efforts. The CARES Act is wide reaching and includes help for individuals and small businesses, as well as other entities.
Below you’ll find some of the support that the new CARES Act may be able to offer you, your business, or your employer.
Assistance for individuals:
Below you’ll find some of the Assistance for Individuals included in the 2020 CARES Act. For detailed information, click HERE.
- Economic Impact Payments (Recovery Rebates for Individuals)
- Expansion of Unemployment Benefits
- Healthcare Coronavirus Initiatives
- Student Loan Relied & Work Study Expansion
- The Act also has provisions for Emergency Paid Sick Leave which is not covered on this website.
Assistance for small businesses:
Below you’ll find some of the Assistance for Small Businesses included in the 2020 CARES Act. For detailed information, click HERE.
- Paycheck Protection Program
- Small Business Debt Relief Program
- Economic Injury Disaster Loans and Loan Advance Grants
- Employee Retention Tax Credit
- Delay of Payment of Employer Payroll Taxes
- Refundable Tax Credits
- Counseling & Training
Please note that this list does not contain all support and provisions of the CARES Act. For a copy of the entire Act click HERE.
Also be sure to check www.troyal.gov/coronavirus for additional information on the City’s COVID-19 response and resources available to residents and businesses during this public health crisis.
We know this is an unprecedented time. We thank you for your support as we work to get us all safely to the other side of this.