The Coronavirus Aid, Relief, and Economic Security Act (CARES) – What Employers and Workers Need to KnowOn April 1, 2020 by Schnader in Client Alerts
Please visit our COVID-19 Resource Center here for additional guidance.
Schnader’s Brian M. Wallen, Jo Bennett, and Michael J. Wietrzychowski have published a new Client Alert, “The Coronavirus Aid, Relief, and Economic Security Act (CARES) – What Employers and Workers Need to Know.” It reads in part:
On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) into law – the third piece of federal legislation addressing the COVID-19 pandemic. The CARES Act follows passage of the Coronavirus Preparedness and Response Supplemental Appropriations Act and the Families First Coronavirus Response Act (“FFCRA”). While the first law focused on COVID-19 preparations and the FFCRA focused on paid leave, the CARES Act provides economic relief to state and local governments through additional unemployment funding; financial assistance to individuals through fixed payments based on income; and short-term crisis funding for struggling industries. The CARES Act also enacts several programs for small businesses and federal contractors and makes changes to the FFCRA.
This Alert focuses on how employers and workers are affected by the CARES Act – important changes and clarifications to the FFCRA; expansion of unemployment compensation benefits; and special programs available to small businesses and federal contractors.