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The original CARES Act proposal included $500 billion in direct payments to Americans, $208 billion in loans to major industry, and $300 billion in Small Business Administration loans. [7] [8] As a result of bipartisan negotiations, the bill grew to $2 trillion in the version unanimously passed by the Senate on March 25, 2020.
The Paycheck Protection Program ( PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self-employed workers, sole proprietors, certain nonprofit organizations, and tribal businesses continue paying their workers.
The CARES Act created the $349-billion Paycheck Protection Program, which provided low-interest loans to small businesses that were forgivable if they maintained their employees and payroll.
One of the federal government's main economic responses to the coronavirus pandemic is the $2.2 trillion CARES Act, which provides assistance for both small businesses and larger ones. For ...
Jun. 2—The city of Kokomo has broadened the type of business eligible for a federally funded revolving loan fund in an attempt to extinguish the remaining funds before it loses them for good.
The Act allows the U.S. Secretary of Education to grant waivers or relief to recipients of student financial aid programs under Title IV of the Higher Education Act of 1965, in connection with a war or other military operation or national emergency. [1] It allows waiving of statutory or regulatory requirements related to federal student loans for three categories of individuals: active-duty ...
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