By Matthew Emerson, Jon Flaherty CFP®, Thomas Rueger J.D. CFP®
The latest major governmental action comes amid heightened uncertainty caused by the COVID-19 virus and subsequent economic chaos. The CARES Act (Coronavirus Aid, Relief, and Economic Security Act) is a $2T economic stimulus plan addressing the immediate fallout in the business world and in peoples’ personal finances, an attempt to cushion the impact of social distancing and the loss of work and business that it entails. There are five “groups” that will directly benefit from the package: individuals, large corporations, small businesses, state & local governments and public services.