After heavy negotiating throughout the past week, the House approved the Coronavirus Aid, Relief, and Economic Security (CARES) Act Friday, sending the largest emergency aid bill in U.S. history to President Trump.
The President is expected to sign the bill, which aims to provide financial relief to businesses and the health care industry, extend unemployment benefits for those who are out of work, and provide $1,200 checks to most working Americans.
The CARES Act was sponsored by Senate Majority Leader Mitch McConnell, who issued the following statement after the package passed the Senate on Wednesday night:
“I’m proud to announce tonight, not a single senator voted against this $2 trillion rescue bill to save American individuals, small businesses, large businesses, and to provide considerable funding for the healthcare workers and the scientists and the doctors and others who are trying to solve this pandemic…. I think it says a lot about the United States Senate as an institution, our willingness to put aside our differences, and to do something really significant for the country. I think one of the reasons that happened is where inspired by what’s going on around the country. People are helping each other, reaching out, looking for ways to make a difference, following the directions of the healthcare professionals. This is a proud moment for the United States Senate and for the country and we’re going to win this battle in the very near future,” McConnell said.
“On behalf of Kentucky’s business community, we want to thank our Senator, Leader Mitch McConnell, for his leadership in passage of the CARES Act,” said Ashli Watts, President and CEO of the Kentucky Chamber of Commerce. “This bipartisan bill gives a critical lifeline to both employers and employees to help them survive this pandemic and eventually thrive.”
To view the full bill text, click here.
To view a section-by-section summary of the bill released by the Senate, click here.
To view a summary from the Senate Appropriations Committee, click here.