In response to COVID-19 and the economic impact it is having on our country, the U.S. government has passed a sweeping $2.2 trillion economic stimulus package to help offset the devastating effects of the current downturn. Known as the CARES Act, the package includes $500 billion in assistance for distressed companies, $350 billion in loans for small businesses, $1,200 for low- and middle-income American workers, and more. CompTIA’s Advocacy team analyzed the package and identified the top 10 pieces that all tech businesses need to know, including:
- SBA Paycheck Protection Program
- SBA Economic Injury Disaster Loan (EIDL) Program
- Federal Reserve loans for larger businesses
- Payroll tax credit for impacted employers
- Paid family, medical and sick leave
- Broadband deployment funding
- Education funding
- Other federal IT funding
- Direct aid to states
- Individual rebates and expanded unemployment
For more COVID-19 resources for tech companies, visit CompTIA’s COVID-19 Forum.
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