The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, is a $2.2 trillion economic stimulus bill passed by the 116th United States Congress.
- For households earning up to $75,000, the CARES Act authorized direct payments of $1,200 per adult and $500 per child.
- It also provided generous tax breaks to taxpayers who had children.
- It was the first COVID-19 program to put a halt to mortgage foreclosures and tenant evictions.
- It increased unemployment benefits and subsidized payroll for impacted small businesses.
- It pumped billions of dollars into airlines to keep them flying during the pandemic.
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