Stimulus Act Of 2020
Congress and signed into law by president donald trump on march 27 2020 in response to the economic fallout of the covid 19 pandemic in the united states.
Stimulus act of 2020. The coronavirus aid relief and economic security act also known as the cares act is a 2 2 trillion economic stimulus bill passed by the 116th u s. The joint committee on taxation estimates the act will reduce federal revenue by 706 billion in 2020 and 254 billion in 2021. For example the stimulus checks will decrease federal revenue by about 301 billion in 2020 according to the tax foundation.
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