The US Economy is feeling the effects of nationwide shelter in place orders and forced store closures that are non-essential. In order to mitigate the economic slowdown the Senate passed the CARES ACT (Coronavirus Aid, Relief, and Economic Security Act), a record $2 Trillion Stimulus Package. From the middle class to the big airlines, the CARES Act is designed to provide a helping hand to various stakeholders in the overall economy. In this episode we critically break down the different parts of the CARES Act and how it's designed to provide economic stability to the businesses and individuals affected by the Coronavirus.
Anatomy of the $2 Trillion CARES Act:
1. Individuals / Families - $603.7 billion (30%)
2. Big Business - $500.0 billion (25%)
3. Small Business - $377.0 billion (19%)
4. State and Local Government - $340.0 billion (17%)
5. Public Services - $179.5 billion (9%)