In response to the unfolding COVID-19 global pandemic, the Coronavirus Aid, Relief, and Economic Security Act was unanimously passed by the Senate on March 25, 2020. The next day it was passed in the House via voice vote and signed into law by the President.
The legislation was the largest-ever economic stimulus package, amounting to 10% of U.S. gross domestic product. The main points and key takeaways from the bill are listed below:
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Ryan M. Bayonnet, CFP®, MSF