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ARTICLE · 31 MARCH 2020

"Phase 3" Mcconnell Coronavirus Relief Bill Introduced In The Senate

Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP
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Herbert Smith Freehills Kramer LLP

Herbert Smith Freehills Kramer LLP

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This evening, March 19, Senate Majority Leader Mitch McConnell introduced a bill called the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act.

United StatesStrategy
Amy Caton
Amy Caton
Alice Byowitz
Alice Byowitz
Kelly E. Porcelli
Kelly E. Porcelli
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What: This evening, March 19, Senate Majority Leader Mitch McConnell introduced a bill called the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act. The proposed bill is intended to provide relief to various sectors of the U.S. economy. Of particular interest is the Coronavirus Economic Stabilization Act of 2020, set forth in Division C, Title I of the proposed bill, which provides assistance to severely distressed sectors of the U.S. economy, including (but not limited to) airline carriers.

Who Does This Impact:

  • Businesses undergoing stress as a result of COVID-19 that may be looking for Congressional relief and additional funding
  • Investors in these businesses that want to see how a federal loan under the proposed CARES Act could impact their current rights and investments

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