Legislation: Impact of the CARES Act
The Coronavirus Aid, Relief and Economic Security (CARES) Act has been signed into law.
The bill's purpose is to provide relief for those impacted by the coronavirus and the resulting economic downturn. The bill provides individuals with enhanced unemployment benefits, stimulus payments of up to $1,200 per taxpayer (with limitations), relief to hospitals, as well as relief for small businesses.
There are three notable changes that will impact the personal planning of individuals.