Washington’s wrangling over an emergency coronavirus economic stimulus package, the largest in U.S. history, came to fruition last week with both Main Street and Wall Street getting some form of relief.
Following several days of back-and-forth debate, a bipartisan deal was finally reached, culminating in the 880-page “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act), signed into law by President Trump on Friday. The CARES Act, unprecedented in scope, authorizes $2 trillion in relief and includes $454 billion in Federal Reserve lending power, significantly dwarfing relief packages passed during the 2008 financial crisis.
