AMERICANS IMPACTED BY CORONAVIRUS WILL GET FEDERAL RELIEF

Los Angeles — The Republican National Committee said in a press release Monday that the Trump Administration’s CARES Act provides relief for workers and support for small businesses so they can keep Americans employed during this crisis.

THE CARES ACT IS PROVIDING RELIEF TO SMALL BUSINESSES AND HELPING THEM KEEP WORKERS ON THE JOB DURING THIS CRISIS

The Paycheck Protection Program provides loans to businesses to cover costs and includes strong incentives to keep paying their workers.

As part of the CARES Act, businesses are eligible for up to $10 million in loans and, to encourage businesses to keep workers on the job, the loans will be forgiven if the recipient maintains payroll at pre-crisis levels.

The CARES Act also includes a payroll tax credit of up to $5,000 per worker for businesses who do not receive a loan from the Paycheck Protection Program.

The CARES Act expanded eligibility for the Small Business Administration’s Economic Injury Disaster Loan Program which can provide as much as $2 million of financial support to small businesses and private non-profit organizations.

Additionally, the law provides $10 billion for the program to quickly provide businesses with $10,000 “advance” grants that will not have to be repaid should the businesses spend the money appropriately. 

The CARES Act also allows businesses to free up cash to cover payroll and other expenses bydeferring some payroll taxes this year.

THE CARES ACT PROVIDES RELIEF FOR WORKERS WHO HAVE LOST THEIR JOBS BECAUSE OF THE CRISIS

The CARES Act supplements state unemployment benefits with an additional $600 a week, which more than doubles the weekly maximum unemployment benefits in most states.

The federal expansion also provides 13 “extra” weeks of benefits meaning that, in total, workers can qualify for up to 39 weeks of unemployment benefits during the public health crisis.

The law also ensured that all Americans out of work due to the coronavirus qualify for benefits including those whose workplace closed, those who were forced to quit their job, and those who were supposed to start a job but could not because of the virus.

Americans are also eligible for benefits if they are unable to work or are working reduced hours as a result of the coronavirus including those who have symptoms, are quarantined or are caring for someone who has the disease.

Americans who are self-employed (including gig and contract workers), work part-time or who normally wouldn’t qualify for unemployment benefits because they lack sufficient work history can also receive benefits.

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