{"id":70840,"date":"2020-04-02T05:57:24","date_gmt":"2020-04-02T09:57:24","guid":{"rendered":"http:\/\/www.businesspundit.com\/?p=70840"},"modified":"2020-06-17T10:56:38","modified_gmt":"2020-06-17T14:56:38","slug":"understanding-the-covid-19-cares-act","status":"publish","type":"post","link":"https:\/\/www.businesspundit.com\/understanding-the-covid-19-cares-act\/","title":{"rendered":"Understanding the COVID-19 CARES Act Money Distribution"},"content":{"rendered":"\n<p>Now that the COVID-19 stimulus bill for coronavirus aid, relief, and economic security has been passed by Congress and signed by President Trump, many Americans have questions about how the $2 trillion in relief provide by the CARES Act will be distributed.<\/p>\n\n\n\n<p>We can break it down for you, but fair warning, there&#8217;s some stuff you&#8217;re not going to like. However, this is where $2 trillion is going.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"1200\" height=\"1412\" data-src=\"https:\/\/www.businesspundit.com\/wp-content\/uploads\/2020\/04\/covid-19-stimulus-package.jpg\" alt=\"\" class=\"wp-image-70841 lazyload\" data-srcset=\"https:\/\/www.businesspundit.com\/wp-content\/uploads\/2020\/04\/covid-19-stimulus-package.jpg 1200w, https:\/\/www.businesspundit.com\/wp-content\/uploads\/2020\/04\/covid-19-stimulus-package-255x300.jpg 255w, https:\/\/www.businesspundit.com\/wp-content\/uploads\/2020\/04\/covid-19-stimulus-package-600x706.jpg 600w, https:\/\/www.businesspundit.com\/wp-content\/uploads\/2020\/04\/covid-19-stimulus-package-768x904.jpg 768w, https:\/\/www.businesspundit.com\/wp-content\/uploads\/2020\/04\/covid-19-stimulus-package-758x892.jpg 758w\" data-sizes=\"(max-width: 1200px) 100vw, 1200px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1200px; --smush-placeholder-aspect-ratio: 1200\/1412;\" \/><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Individuals<\/h2>\n\n\n\n<p>$603.7 billion, or 30 %, is allocated to providing financial aid to individuals.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.businesspundit.com\/how-to-get-your-coronavirus-stimulus-check-asap\/\">Rebate checks to Americans<\/a> will account for $300 billion;\u00a0<\/li><li>$260 billion will be paid as extra <a href=\"https:\/\/www.businesspundit.com\/how-to-file-for-unemployment-due-to-coronavirus\/\">unemployment payments<\/a> for those who have or will lose their jobs due to the global coronavirus pandemic;<\/li><li>Much of the remaining $43.7 billion will go to pay student loans.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Large Corporations<\/h2>\n\n\n\n<p>$500 billion, or 25%, will go to large corporations. (We told you some of this would be unpleasant.)<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>$425 billion will be for loans to corporations;<\/li><li>$58 billion goes to the airline industry<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Small Businesses<\/h2>\n\n\n\n<p>$377 billion, or 19%, will go to <a href=\"https:\/\/www.businesspundit.com\/content-marketing-guide-small-businesses\/\" >small businesses<\/a>.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>$350 billion of that will go for new loans;<\/li><li>$17 billion will be spent on relief for existing loans;<\/li><li>$10 billion will be given as grants for small businesses.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">State and Local Governments<\/h2>\n\n\n\n<p>$339.8 billion, or 17%, will go to help state and local governments.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>$274 billion of that is for COVID-19 response;<\/li><li>$14 billion is for higher education;<\/li><li>$13 billion will go to K-12 schools;<\/li><li>$5.3 billion to fund family programs;<\/li><li>$5 billion for block grants;<\/li><li>$28.5 billion for murky state and local &#8220;other&#8221;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Public Services<\/h2>\n\n\n\n<p>$179.5 billion, or 9 %, is earmarked for public services.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>$100 billion will go to hospitals;<\/li><li>$20 billion is for veterans&#8217; health care;<\/li><li>$16 billion for stockpiled equipment;<\/li><li>$15.5 billion for SNAP (Supplemental Nutrition Assistance Program);<\/li><li>$11 billion for drug access;<\/li><li>$8.8 billion for child nutrition;<\/li><li>$4.3 billion for CDC programs and response;<\/li><li>$1.3 billion for community health centers;<\/li><li>$.45 billion to food banks;<\/li><li>$.08 billion for FDA prioritization of drugs;<\/li><li>$2.05 billion is earmarked for public services as &#8220;other&#8221;<\/li><\/ul>\n\n\n\n<p>These figures are not set in stone. The Secretary of the Treasury will have the final say in the distribution of the relief money from the <a href=\"https:\/\/www.businesspundit.com\/first-coronavirus-cares-act-stimulus-payments-arrive-today\/\" >CARES Act<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Many Americans have questions about how the $2 trillion in relief provide by the CARES Act will be distributed. Here&#8217;s the breakdown.<\/p>\n","protected":false},"author":74,"featured_media":70841,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1197,25,11340],"tags":[],"class_list":{"0":"post-70840","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"category-business","9":"category-money"},"acf":[],"wps_subtitle":"","_links":{"self":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts\/70840","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/users\/74"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/comments?post=70840"}],"version-history":[{"count":5,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts\/70840\/revisions"}],"predecessor-version":[{"id":77850,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts\/70840\/revisions\/77850"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/media\/70841"}],"wp:attachment":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/media?parent=70840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/categories?post=70840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/tags?post=70840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}