NAA: Congress Passes Third COVID-19 Federal Relief Package
NAA's SUMMARY: How the CARES Act Impacts the Apartment Industry
Congress Passes Third COVID-19 Federal Relief Package
Today, Congress passed H.R. 748, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
As “Phase Three” of an extensive federal relief package, this legislation includes nearly $2 trillion in relief intended to mitigate the enormous economic effects of COVID-19 (also known as coronavirus) on the American economy and bolster the nation’s ability to fight the ongoing public health emergency.
The CARES Act is the culmination of two tumultuous weeks of political wrangling in Washington, D.C., where the Capitol Complex was shuttered except for members of Congress, Trump Administration officials and their staffs who have been hashing out the details of urgently needed legislation.
NAA was deeply engaged and worked to ensure the industry’s voice was heard in all three phases of the federal COVID-19 relief package.