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On March 27, President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law. Some key highlights of the bill include: $350 billion for forgivable small business loans. Expansion of unemployment benefit coverage and amount $500 billion for corporate aid $1,200 checks for certain single filers and $2,400 for certain joint filers (under $75,000 income) $340 billion for healthcare-related programs $150 billion for state and local governments to replenish coffers The $350 billion small business loan allocation is directed to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses who maintain their payroll during this emergency. Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward. The U.S. Chamber of Commerce has published a Coronavirus Emergency Loans Small Business Guide and Checklist to help your small business through the process. Visit www.uschamber.com