The CARES Act was passed last week by both the House and Senate and then signed into law by the President on Friday, March 27. At nearly 900 pages and a $2.2 Trillion budget, it will take months to implement fully.
As a result, we have decided to develop what was to be a single overview into a weekly series on how the CARES Act impacts you, your employees, and your business practices.
We are excited to be working with Compliance Director Stacy Barrow of Marathas Barrow Weatherhead Lent LLP, one of the premier ERISA firms in the United States.
Please join us this Friday, April 3, 2020, at 10 MST as Stacy gives an introduction to the CARES Act. We will also discuss the provisions that will affect benefit plans and how the CARES Act can help your company through this crisis.
The legislation focuses on providing relief for individuals and businesses that have been negatively impacted by the coronavirus outbreak. Key components to the bill include:
- Direct payments to Americans
- Cash-flow assistance for small employers
- Extended unemployment insurance program
- Deduction for charitable contributions
- Coronavirus testing and potential vaccines for COVID-19 to be covered at no cost to patients
Please plan to join us each week throughout April for new highlights, regulatory actions, and legal precedence on the administration and implementation of the CARES Act and how they will impact you.