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The CARES Act and Its Implications

Within three months of the passage of SECURE Act—a law intended to provide more opportunities for Americans to save for retirement—the federal government passed another historic piece of legislation that essentially does the opposite.

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, a historic $2 trillion dollar emergency fiscal stimulus package and the third piece of major legislation passed since the coronavirus outbreak began.

The CARES Act is sweeping in scope. Here a few of the most important provisions as they pertain to individuals.