3/27/20, 12)15 PMDetails Of The Coronavirus Relief Bill, The CARES Act : NPR

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What's Inside The Senate's $2 TrillionCoronavirus Aid PackageMarch 26, 2020 · 5:34 PM ET

KELSEY SNELL

How The $2 Trillion Breaks DownThe CARES Act provides relief to several groups impacted by the coronavirus pandemic.

Education/other$43.7 billion(estimated) Public health

$153.5 billionIndividuals$560 billion(estimated)

State & localgovernments$339.8 billion

Big corporations$500 billion

91.7 WVXUOn Air Now

3/27/20, 12)15 PMDetails Of The Coronavirus Relief Bill, The CARES Act : NPR

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Small businesses$377 billion

Safety net$26 billion

Education/other$43.7 billion(estimated)

Publichealth$153.5billion

Individuals$560 billion(estimated)

State & localgovernments$339.8 billion

Big corporations$500 billion

Smallbusinesses$377 billion

Safety net$26 billion

Safety

Publichealth$153.5B

State & localgovernments

3/27/20, 12)15 PMDetails Of The Coronavirus Relief Bill, The CARES Act : NPR

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Source: Estimates for third relief bill based on bill text, committee and administration numbers.

Credit: Audrey Carlsen/NPR

Safetynet

$26B

$153.5B governments$339.8B

Individuals$560B

(estimated)

Smallbusinesses

$377B

Bigcorporations

$500B

Education/other$43.7B(estimated)

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The Senate has passed a roughly $2 trillion coronavirus response bill intended tospeed relief across the American economy. This is the third aid package from Congressand is meant to keep businesses and individuals afloat during an unprecedented freezeon the majority of American life.

Senate Majority Leader Mitch McConnell, R-Ky., described the legislation, known asthe CARES Act, as necessary emergency relief and vowed to put partisanship aside toget it done.

"No economic policy can fully end the hardship so long as the public health requiresthat we put so much of our commerce on ice," McConnell said in a speech on theSenate floor on Wednesday. "This isn't even a stimulus package. It is emergency relief.Emergency relief. That's what this is."

There are six main groups that would see the widest-reaching impacts: individuals,small businesses, big corporations, hospitals and public health, federal safety net, stateand local governments, and education.

Here's what each group can expect if this bill becomes law.

Note: The legislation was released late Wednesday night and official cost estimateshave not yet been completed. In some cases, Congress allocated dollar figures forspecific programs. The official expected costs of other programs are not yetavailable. This story includes some figures that are based on administration andcongressional estimates.

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Individuals

The bill includes several elements aimed at helping keep people engaged in theeconomy. That means direct cash for many families plus expanded unemploymentbenefits, new rules for things like filing your taxes and making retirementcontributions.

Cash payments: Estimated to total $300 billion. Most individuals earning less than$75,000 can expect a one-time cash payment of $1,200. Married couples would eachreceive a check and families would get $500 per child. That means a family of fourearning less than $150,000 can expect $3,400.

The checks start to phase down after that and disappear completely for people makingmore than $99,000 and couples making more than $198,000.

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Who’s Getting Checks, By Adjusted Gross IncomeAdd an additional $500 for each child, which would also increase eligibility limits depending on the number of children.

Source: Senate version of bill H.R. 748

Credit: Sean McMinn/NPR

$0K $50K $100K $150K

Up to $75K: full payment $99K+: No payment

$150K $198K+

IndividualsPayment: $1,200

Couple filing jointlyPayment: $2,400

The cash payments are based on either your 2018 or 2019 tax filings. People whoreceive Social Security benefits but don't file tax return are still eligible, too. They don'tneed to file taxes; their checks will be based on information provided by the SocialSecurity Administration.

Extra unemployment payments: The $260 billion estimated cost is subject tochange based on the number of people filing for unemployment.

The bill makes major changes to unemployment assistance, increasing the benefitsand broadening who is eligible. States will still continue to pay unemployment topeople who qualify. That amount varies state by state. So does the amount of timepeople are allowed to claim it.

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3/27/20, 12)15 PMDetails Of The Coronavirus Relief Bill, The CARES Act : NPR

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This bill adds $600 per week from the federal government on top of whatever baseamount a worker receives from the state. That boosted payment will last for fourmonths.

For example, if an out-of-work person is receiving the national average of about $340per week, under the new federal program their take-home pay will be $940.

The legislation also adds 13 weeks of additional unemployment insurance. Peoplenearing the maximum number of weeks allowed by their state would get an extension.New filers would also be allowed to collect the benefits for the longer period.

Gig workers and freelancers: Typically, self-employed people, freelancers andcontractors can't apply for unemployment. This bill creates a new, temporaryPandemic Unemployment Assistance program through the end of this year to helppeople who lose work as a direct result of the public health emergency.

Tax returns: Some people have not filed their 2019 tax returns, but that's OK. Thefiling deadline has been extended to July 15. The IRS also says that people who havefiled or plan to can still expect to receive a refund if they are owed one.

Student loans: Employers can provide up to $5,250 in tax-free student loanrepayment benefits. That means an employer could contribute to loan payments andworkers wouldn't have to include that money as income.

Insurance coverage: The bill requires all private insurance plans to cover COVID-19 treatments and vaccine and makes all coronavirus tests free.

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3/27/20, 12)15 PMDetails Of The Coronavirus Relief Bill, The CARES Act : NPR

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Back to top.

Small Businesses

The main features for small businesses are emergency grants and a forgivable loanprogram for companies with 500 or fewer employees. There are also changes to rulesfor expenses and deductions meant to make it easier for companies to keep employeeson the payroll and stay open in the near-term.

Emergency grants: The bill provides $10 billion for grants of up to $10,000 toprovide emergency funds for small businesses to cover immediate operating costs.

Forgivable loans: There is $350 billion allocated for the Small BusinessAdministration to provide loans of up to $10 million per business. Any portion of thatloan used to maintain payroll, keep workers on the books or pay for rent, mortgageand existing debt could be forgiven, provided workers stay employed through the endof June.

Relief for existing loans: There is $17 billion to cover six months of payments forsmall businesses already using SBA loans.

Back to top.

3/27/20, 12)15 PMDetails Of The Coronavirus Relief Bill, The CARES Act : NPR

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Big Businesses

The bill sets aside roughly $500 billion in loans and other money for big corporations.These companies will have to pay the government back and will be subject to publicdisclosures and other requirements.

Airlines: About $58 billion is allocated to help airlines stay open. One portion of thatmoney is set aside to help cover employee wages, salaries and benefits divided up asup to $25 billion for passenger air carriers, up to $4 billion for cargo air carriers, andup to $3 billion for airline contractors.

Stock buyback ban: Any company receiving a loan under the program is barredfrom making stock buybacks for the term of the loan plus one year.

Reporting requirements: All loans, their terms and any investments or otherassistance provided by the government must be publicly disclosed.

Oversight: The bill creates a special inspector general to oversee pandemic recovery.That person, along with a special committee, would provide oversight of all loans andother uses of taxpayer dollars.

No benefit for Trump: The president, vice president, members of the Cabinet andmembers of Congress are barred from benefiting from the money carved out for

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3/27/20, 12)15 PMDetails Of The Coronavirus Relief Bill, The CARES Act : NPR

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corporations. That also extends so the "the spouse, child, son-in-law or daughter-in-law."

All businesses: The bill establishes a fully refundable tax credit for businesses of allsize that are closed or distressed to help them keep workers on the payroll. The goal isto get those employees hired back or put on paid furlough to make sure they have jobsto return. The credit covers to 50 percent of payroll on the first $10,000 ofcompensation, including health benefits, for each employee.

For employers with more than 100 full-time employees, the credit is for wages paid toemployees when they are not providing services because of the coronavirus. Eligibleemployers with 100 or fewer full-time employees could use the deduction even if theyaren't closed.

Back to top.

Public Health

Lawmakers want to supplement community and private health systems to help meetthe influx of new patients.

Hospitals: There is $100 billion for hospitals responding to the coronavirus.

Community health centers: The bill provides $1.32 billion in immediateadditional funding for community centers that provide health care services for roughly28 million people.

3/27/20, 12)15 PMDetails Of The Coronavirus Relief Bill, The CARES Act : NPR

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Drug access: There is $11 billion for diagnostics, treatments and vaccines. The billalso includes $80 million for the Food and Drug Administration to prioritize andexpedite approval of new drugs.

Centers for Disease Control and Prevention: CDC programs and responseefforts are getting $4.3 billion.

Veterans' health care: There is $20 billion set aside for veterans.

Telehealth: The bill reauthorizes a critical telehealth program to extend the reach ofvirtual doctors appointments.

Medicine and supplies: The bill gives $16 billion to the Strategic National Stockpileto increase availability of equipment, including ventilators and masks. It also boostshiring for vital health care jobs during the public health crisis and speeds thedevelopment of a vaccine, treatments and faster diagnostic.

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Safety Net

This is the second wave of funding for major food security programs.

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3/27/20, 12)15 PMDetails Of The Coronavirus Relief Bill, The CARES Act : NPR

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Child nutrition: There is $8.8 billion to give schools more flexibility to providemeals for students.

Food stamps: $15.5 billion is going to the Supplemental Nutrition AssistanceProgram, also known as SNAP. The money will help cover the expected cost of newapplications to the program as a result of the coronavirus.

American Indian reservations, Puerto Rico, Northern Mariana Islands and AmericanSamoa all get additional funds and access to federal nutrition programs.

Food banks: There is $450 million more for food banks and other community fooddistribution programs.

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State And Local Governments

The legislation designates $339.8 billion for programs that will go to state and localgovernments. It is divided up to put $274 billion toward specific COVID-19 responseefforts, including $150 billion in direct aid for those state and local governmentsrunning out of cash due to high numbers of cases.

It also includes $5 billion for Community Development Block Grants, $13 billion for

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3/27/20, 12)15 PMDetails Of The Coronavirus Relief Bill, The CARES Act : NPR

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K-12 schools, $14 billion for higher education and $5.3 billion for programs forchildren and families, including immediate assistance to child care centers.

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Education/Other

The bill includes relief for college students and graduates with outstanding federalstudent debt.

Temporary student loan relief: All loan and interest payments would be deferredthrough Sept. 30 without penalty to the borrower for all federally owned student loans.

Work study funds: It allows schools to turn unused work-study funds intosupplemental grants and continue paying work study wages while schools aresuspended.

Students who are forced to drop out: Students who drop out of school as a resultof the coronavirus wouldn't have that time away from school deducted from theirlifetime limits on subsidized loan and Pell grant eligibility. Those students would alsonot be asked to pay back any grants or other aid they've already received.

Other programs: There is a very long list of other areas receiving funding including

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