What the $2 Trillion CARES Act Means for You

March 27

Just hours ago, President Trump signed into law the Coronavirus Aid, Relief and Economic Security Act, or “CARES Act.”  The bill — Phase 3 of the COVID-19 federal aid package — was passed by voice vote in the House of Representatives this afternoon and on Wednesday by a unanimous (96-0) vote in the Senate.

The CARES Act $2 trillion price tag represents the largest aid package in U.S. history and contains many important provisions for individuals, businesses, nonprofits, and of course – healthcare.  Here is a breakdown of the measures we believe to be most important to families across the nation:

Individuals & Families

  • Most Americans will receive a stimulus payment of at least $1,200. Payments will be received in April via direct deposit, or by mail if the IRS does not have your bank account information.
    • Single Americans who make up to $75,000 per year (including those on Social Security) will receive $1,200 plus $500 per child.
    • Married couples who make up to $150,000 per year (including those on Social Security) will receive a check for $2,400 plus $500 per child.
    • Individuals who make between $75,000 and $99,000 per year, and married couples who earn between $150,000 and $198,000 per year, will receive a check for less than $1,200. (The payment amount falls by $5 for every $100 in income above the thresholds.)
  • Unemployment benefits are increased by $600 per week for up to four months. A new program – Pandemic Unemployment Assistance – is created for self-employed and contract workers (including religious workers) who are typically ineligible for unemployment insurance.


  • $350 billion for loans to small businesses and 501(c)(3) nonprofits for eight weeks.
  • Loan forgiveness provided for payroll costs, mortgage interest, rent and utilities.
  • Increases the maximum loan amount for Small Business Administration express loans from $350,000 to $1 million through Dec. 31, 2020.
  • Automatic deferral payments provided on SBA loan products for six months.
  • Expedites access to capital for small businesses that have applied for an SBA Economic Injury Disaster Loan. Businesses may request an advance of up to $10,000 for covered leave, payroll and debt obligations.
  • $275 billion in grants and funding for training and assistance to small businesses affected by COVID-19.


  • $117 billion for hospitals and veterans’ health care
  • $16 billion for the strategic national stockpile
  • $11 billion for vaccines and therapy

Pro-Life Provisions

  • The Hyde Amendment, which prohibits federal funding of elective abortions and elective abortion coverage, will apply to new health funding in the bill, including $100 billion for hospitals and other health care providers.
  • Planned Parenthood is excluded from small business loan assistance. The Small Business Administration’s affiliation rules are applied to nonprofits with less than 500 employees for loans and forgiveness of payroll costs.  (Planned Parenthood’s approximately 16,000 employees far surpass the threshold.)

Faith-Based Provisions 

  • 501 (c)(3) organizations, including faith-based nonprofits and houses of worship, with less than 500 employees are eligible for government-guaranteed loans through the .
  • Economic Injury Disaster Loans eligibility is expanded to include nonprofit organizations.
  • A (Sen. James Lankford offered an amendment to increase the limit to $4,000 for individuals and $8,000 for married couples, but it was not adopted.)

While much more is included in the bill than we have listed here, we hope you find this summary informative and helpful.  This is most certainly a challenging time in the history of our nation, for every family, business and industry.  As we trust in the Lord day by day, may we also do all that we can to help “flatten the curve” and keep America safe.

You have no doubt heard of President Trump’s 15 Days to Slow the Spread initiative.  Americans are asked to help contain the coronavirus by practicing social distancing, good hygiene and avoiding discretionary travel.  The president’s 15-day initiative is in effect through Tuesday, March 31.  We hope you will join us in heeding the president’s recommendations to help keep Americans safe.

Thank you for reading, and for standing with us in faith during this trying time!


Autumn Leva
Vice President of Strategy