Phase 1: Coronavirus Preparedness and Response Supplemental Appropriations Act:
H.R. 6074 Enacted: March 6, 2020 https://www.congress.gov/bill/116th-congress/house-bill/6074/text
Summary:
Appropriates $8.3 billion in emergency funding for federal agencies to respond to the COVID-19 pandemic. While the majority of the domestic allocation ($6.2 billion) is directed to the Department of Health and Human Services, $20 million is set aside to the United States Small Business Administration (SBA) to support the administration of the SBA Economic Injury Disaster Loan Program
Phase 2: Families First Coronavirus Response Act
H.R. 6201 Enacted: March 18, 2020 https://www.congress.gov/bill/116th-congress/house-bill/6201/text
Summary:
Provides for paid sick leave, free coronavirus testing, expanded food assistance, additional unemployment benefits, and requirements that employers provide additional protection to health care workers.
Phase 3: Coronavirus Aid, Relief and Economic Security Act (CARES Act)
H.R. 748 Enacted: March 27, 2020 https://www.congress.gov/bill/116th-congress/house-bill/748/text
Summary:
Appropriates $2.2 trillion in emergency aid to address various impacts of the COVID-19 pandemic, including relief for individuals and families, hospitals, community health centers and health care providers, state and local governments, and businesses including:
- Payroll support through the Paycheck Protection Program
- Expansion of SBA Economic Injury Disaster Program Loan Eligibility
- Rapid cash infusion through Emergency Economic Injury Disaster Loan Grants
- Relief for larger businesses through Economic Stabilization Loans and Assistance to Severely Distressed Sectors
- Debt relief for small business through a 6-month Subsidy for Existing SBA Loans
- Funding to small business resource partners for COVID-19 related counseling and training through Entrepreneurial Development Awards
- Employee Retention Tax Credits and delayed payment of payroll taxes.
