Congress passed the CARES Act and it was signed into law on Friday March 27th. The Act has become known as Phase 3 of efforts in the US to minimize the depth and duration of the recession. This phase does a very good job of supporting the new unemployed and big business, but it may be too little too late for many small businesses who have already laid off their employees and closed their doors. In this 9-minute video, Jonathan DeYoe describes a number of elements of the CARES Act and explains where we may see more help in a Phase 4 or Phase 5 effort to restart the economy in a number of months.
