With the Federal Pandemic Unemployment Compensation program, created by the CARES Act, set to expire in a week, many people are wondering about the next phase of relief from the federal government given the ongoing pandemic.
The Relief for Workers Affected by Coronavirus Act (Title II, Subtitle A of the CARES Act) has made several changes to federal unemployment insurance law. The Act extends benefits to groups of individuals who previously would not have been eligible for unemployment insurance benefits, but whose employment has been adversely affected by the COVID-19 pandemic. The Act also provides a financial supplement for all unemployment insurance recipients.
On March 27, 2020, the president signed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) into law. Below are highlights of the SBA forgivable loan program.