On March 25, 2020, the Senate passed on a bipartisan basis the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020. With more than US$2 trillion in total relief and US$350 billion in support for small businesses, this bill, if enacted, would represent the third phase of legislation intended to help families and companies affected by the coronavirus disease 2019 (COVID-19) outbreak.
In anticipation that the small business provisions in the CARES Act will be reflected in the final bill agreed to by the House and enacted into law, our colleagues in the public policy group, Pablo E. Carillo, Kirk D. Beckhorn, Karen R. Harbaugh, and Brandon C. Roman, have prepared a client advisory that describes programs provided under all three phases of legislation that are intended to provide much-needed support for US small business concerns through this crisis. The client advisory concludes with a summary of the bankruptcy-related provisions in the CARES Act. Click below to read more: