In attempting to be the largest aid package in U.S. history, the
HEROES Act makes substantial changes to the Internal Revenue
Code.
On May 15, 2020, nearly a month and a half since the passage of
the Coronavirus Aid, Relief and Economic Security Act
(CARES Act), the House of Representatives passed the $3
trillion Health and Economic Recovery Omnibus Emergency Solutions
Act (HEROES Act) in an effort to blunt COVID-19's
increasingly severe economic impact. The HEROES Act aims to
continue the CARES Act initiative by helping businesses and
individuals. It also adds relief to state and local governments.
While the Senate has not yet voted on the bill, this is the first
step toward securing an additional round of stimulus for an economy
that is desperate for relief.
