The Coronavirus Aid, Relief, and Economic Security (CARES) Act and the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 provide fast and direct economic assistance for American workers, families, and small businesses, and preserve jobs for American industries.
The Consolidated Appropriations Act, 2021 passed Congress with strong bipartisan support and was signed into law by President Trump on December 27, 2020. This relief package provides critical support to the American people and will further strengthen our economic recovery
Previously, President Trump signed the CARES Act into law on March 27, 2020. The CARES Act was passed with overwhelming bipartisan support and delivered on the Trump Administration’s commitment to supporting the American people through the public health and economic impacts of COVID-19.
Together, these relief bills provide fast and direct economic assistance for American workers, families, and small businesses, and preserve jobs for American industries.
Assistance for American Workers and Families
Through Economic Impact Payments and other means, the Treasury Department is ensuring Americans are seeing direct and fast relief in the wake of the coronavirus pandemic.
Assistance for Small Businesses
The Paycheck Protection Program is providing small businesses with the resources they need to maintain their payroll, hire back employees who may have been laid off, and cover applicable overhead.
Preserving Jobs for American Industry
By implementing the CARES Act, the Treasury Department is taking unprecedented steps to preserve jobs in industries adversely impacted by the spread of COVID-19.
Assistance for State, Local, and Tribal Governments
Through the Coronavirus Relief Fund, the CARES Act provides for payments to State, Local, and Tribal governments navigating the impact of the COVID-19 outbreak.
Emergency Rental Assistance Program
The Emergency Rental Assistance program makes available $25 billion to assist households that are unable to pay rent and utilities due to the COVID-19 pandemic. The funds are provided directly to States, U.S. Territories, local governments, and Indian tribes. Grantees use the funds to provide assistance to eligible households through existing or newly created rental assistance programs.
Emergency Capital Investment Program
The Emergency Capital Investment Program will provide up to $9 billion in capital directly to community financial institutions to augment their efforts to support small businesses and consumers in low- and moderate- income communities.