COVID-19 Alert: The Coronavirus Aid, Relief and Economic Security Act (“CARES Act”)
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), which provides economic stimulus and other relief to individuals, businesses, and hospitals in response to the economic distress caused by the coronavirus (COVID-19) pandemic. 

Additional information, updates, and analysis regarding this new CARES Act, the Families First Coronavirus Response Act (“FFCRA”) and other state and local executive orders and legislation is posted on Suisman Shapiro’s COVID-19 Information Center .

Suisman Shapiro’s multidisciplinary legal team is available to assist individuals and businesses with interpretation of the CARES Act, FFCRA and any other recent state or federal law passed as a result of the COVID-19 pandemic and can help you find ways to claim and/or use available funding and other benefits. 

  • Provides economic stimulus to individuals, businesses, and hospitals in response to the economic distress caused by the coronavirus (COVID-19) pandemic.

  • Creates a federally-funded loan program for small businesses, including 501(c)(3) non-profits and physician practices. The Act establishes a loan forgiveness process intended to incentivize companies to retain employees.

  • Allocates $454 billion in federal financial assistance to support businesses, states, and municipalities.

  • Provides the Secretary of the Treasury with the authority to make loans or loan guarantees to states, municipalities, and eligible businesses and loosens a variety of regulations prior legislation imposed through the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Economic Stabilization Act of 2008, and others.

  • Directs economic stimulus payments of $1,200 to Americans making $75,000 or less ($150,000 in the case of joint returns and $112,500 for head of household) and $500 for each child, to be paid “as rapidly as possible,” and provides to tax year 2020 tax credits.

  • Expands eligibility for unemployment insurance and provides people with an additional $600 per week on top of the unemployment amount determined by each state.

  • Allocates financial assistance to the medical and hospital industries for medical supplies and drug and device shortages.

  • Expands telehealth services in Medicare and High Deductible Health Plans, including services unrelated to COVID-19 treatments.

  • Expands the Defense Production Act to allow for a period of two years when the government may correct any shortfall in resources without regard to the current expenditure limit of $50 million.

  • Makes supplemental appropriations to help the government respond to this pandemic.

Please click here to review Suisman Shapiro's complete summary of the CARES Act which includes important details you should know.

Disclaimer: The information you obtain in this email is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established.
We're here to help. If we can be of assistance, please don't hesitate to contact any of the following lawyers:
Attorney Kristi Kelly works in all areas of labor relations and employment law, including personnel policies and practices, Family and Medical Leave Act, and many other employment law matters.
Attorney Ted Heiser is a Director in the firm’s civil litigation department, practicing in the areas of personal injury and employment law.
Attorney Raymond L. Baribeault, Jr. is a Director who concentrates his practice in the areas of business law, real estate and bankruptcies.
Attorney Kyle Zrenda is an associate on the firm’s civil litigation team, practicing in the areas of personal injury, medical malpractice, and insurance law.  

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