There is still time to contact your representatives and urge them to pass the CARES Act. Click here to get started.
Late last night, the U.S. Senate approved the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The bill provides significant relief for nonprofits like your local LGBTQ+ community center, and for many of their employees and clients. Here are some highlights:
- Creates a forgivable emergency small business loan program that will essentially provide grants to nonprofits (with 500 or fewer employees) and small businesses to cover the costs of payroll and operations between February 15 and June 30.
- Significantly increases unemployment insurance (UI) benefits for workers who have lost their jobs, including providing coverage to many nonprofit workers who are currently ineligible for UI benefits.
- Creates Additional tax deduction incentives for Americans.
- Provides for substantial direct appropriations for many nonprofit programs.
- Makes direct payments to Americans, including payments to adults of $1,200 and $500 per child ($3,400 for a family of four) to be sent out in weeks. The amount of payments phases out for high-income adults.
We expect a full congressional vote tomorrow, Friday March 27th. You can contact your representatives and urge them to pass the CARES Act TONIGHT. Click here to get started.