Week 11 - US Senate CARES About Non-Profits
Many businesses have had to cease standard operations amidst the coronavirus pandemic. The ban on gatherings of more than ten people has rendered some services inoperable. Large swaths of the economy were frozen with the sharp decrease in cash flow. Despite the need to halt labor in the interest of public safety, the laborers are still dependent on the money they usually receive. The masses began to clamor for solutions, and the government had to respond quickly in order to prevent a modern reprise of the French Revolution. Thus came the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a $2 trillion stimulus package passed unanimously by the United States Senate. Of this, approximately $350 billion is allocated to the Small Business Administration (SBA) to help companies with fewer than 500 employees. This way employees can stay on the payroll, and more importantly, can continue to pay their bills. The novel thing about this portion of the CARES package is that the SBA
