Full and original article posted on Worcester Business Journal
The first federal coronavirus relief plan – the $2.2-trillion CARES Act from March 2020 – provided much-needed calm in the early phases of the coronavirus pandemic. The law’s Paycheck Protection Program was particularly helpful to businesses, infusing capital stability during an unstable economic time. The second relief plan – the $900-million Consolidated Appropriations Act from December – threw more funding to the CARES programs, including a second round of PPP focused on smaller businesses.
The latest relief plan – the $1.9-trillion American Rescue Plan, signed into law on March 11 – seeks to systematically address many of the weaknesses in American society exposed by the coronavirus pandemic, focusing on poverty, health care, infrastructure, including transit, and a new $10-billion small business credit program. Oh, and $1,400 stimulus checks are going out to 85% of Americans. The spigot has been turned on and record amounts of government money is flowing through the economy. The question now becomes: What do we do with all this money?
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