The CARES Act provides approximately $2.2 trillion—more than 10 percent of U.S. Gross Domestic Product (GDP) in economic assistance to various sectors of the economy impacted by COVID-19. A number of provisions directly promote the interests of small businesses. The sweeping legislation also contains relief for individual taxpayers, distressed industries, and the healthcare sector, among others. This article reviews questions and answers that help to unpack benefits of the CARES Act, particularly concerning small, mid-sized and distressed sector businesses.
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Gallagher and Cozen O’Connor Answer Financial FAQs for Businesses Impacted by COVID-19
Gallagher’s HR & Compensation Consulting Practice and Cozen O’Connor offer financial FAQs for small and mid-size businesses.