Stay up to date and read current legislation.
Updated HEROES Act as of September 30, 2020
CARES Act, S. 3548
Officially the CARES Act (S. 3548), the legislation contains significant increases for employees, small businesses, health care providers and states. Included is a $500 emergency loan fund for distressed companies, direct aid to taxpayers, a $377 billion small business rescue plan, $150 billion for public health and $260 billion for expanded unemployment benefits and $150 billion in additional aid to state, local and tribal governments.
- A link to the text of the CARES Act, S. 3548, is here;
- Summary of the CARES Act, S. 3548, is here;
- More detailed, section by section summary of the CARES Act, S. 3548, is here;
- More details on CARES Act, S. 3548, impact to small businesses is here;
- Details on CARES Act, S. 3548, impact on individual taxpayers is here;
- Breakdown of the amount of relief each state will receive under the CARES Act, S. 3548, is here.
Families First Coronavirus Response Act (FFCRA), H.R. 6201
Officially H.R. 6201, the FFCRA legislation provides paid sick leave and tax credits along with expanded unemployment benefits.
- A link to the text of the FFCRA, H.R. 6201 is here;
- A summary link of the FFCRA, H.R. 6201 is here;
- More detailed IRS information on the impacts of H.R. 6201 to small and midsize business is here;
- Title-by-title summary of H.R. 6201 is here.
Coronavirus Preparedness and Response Supplemental Appropriations Act, H. R. 6074
Officially H.R. 6074, the legislation provides $8.3 billion in emergency funding for federal agencies. It includes loans for affected small businesses as well as increased medical and health funding.
Paycheck Protection Program and Health Care Enhancement Act, H.R. 266
Officially H.R. 266, the legislation provides additionally funding for small business loans, health care providers, and COVID-19 testing.
HEROES Act, H.R. 6800
Officially H.R. 6800, this 1,800-page legislation devotes nearly $1 trillion to state, local, territorial and tribal governments; and establishes a $200 billion “Heroes Fund” to extend hazard pay to essential workers. It also would send a second, larger round of direct payments to individual Americans, up to $6,000 per household.
- A link to the text of H.R. 6800 is here;
- A link to a one-pager on the legislation is here;
- A link to a section-by-section summary is here;
- A resource on the state and local relief provisions is here;
- A link to an explanation of how the HEROES Act impacts small business is here;
- A link to a section summary of small business-related provisions is here;
- A summary of provisions related to paid leave and emergency sick leave is here.
Saving Our Streets (SOS) Act
Introduced by Rep. Ayanna Pressley and Sen. Kamala Harris, the Saving Our Streets (SOS) Act would provide federal support to microbusinesses throughout America during the COVID-19 crisis. The SOS Act will lift up local economies and allow for small neighborhood businesses to stay open during this crisis. Read the full details here. Listen to an Instagram live on the SOS Act with Kamala Harris and Ayanna Pressley here.
- Establishes a Microbusiness Assistance Fund of $124.5 billion to provide up to $250,000 directly to small “micro” businesses
- Helps neighborhood businesses put people back to work
- Reserved for those who truly need help
- 75% of the funding goes to historically underrepresented businesses, including minority-owned businesses