News/Pubs/Events

The Coronavirus Aid, Relief and Economic Security (CARES) Act Signed Into Law

In the early hours of Wednesday, March 25, the White House and Senate leadership announced the framework of an initial agreement on a third emergency relief package responding to the COVID-19 global health pandemic. Negotiations on the package began last weekend as Senate Majority Leader Mitch McConnell (R-KY) released an underlying bill to kick-start discussions on a package aimed at providing significant economic relief to individuals and industry.

Negotiations leading up to the agreement underscored the furious pace lawmakers and their aides were under to complete a legislative package with the coronavirus quickly spreading and the economic downturn impacting all sectors of society.  Despite two failed cloture votes on the initial McConnell package early in the week and threats from a few senators to hold up swift passage of the bipartisan bill, the Senate eventually passed the package, the Coronavirus Aid, Relief and Economic Security (CARES) Act (Senate amendment to H.R. 748)  late Wednesday evening, sending the bill to the House. After four hours of debate (and a failed effort to require a roll call vote), the House passed the bill by voice vote Friday afternoon. The bill was signed into law by President Trump just a couple hours after its passage.

Read the full summary of the CARES Act.

Please contact your Bose Public Affairs professional or Bose McKinney & Evans attorney if you have questions regarding how the CARES Act may impact your organization.

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