Vela, Burton, Contreras discuss $2.2 trillion CARES Act
BROWNSVILLE, Texas - Congressman Filemon Vela and the Small Business Administration\u2019s Angela Burton held a webinar on Wednesday to discuss the $2.2 trillion CARES Act.
The webinar was hosted by the Rio Grande Valley Partnership. Its president, Sergio Contreras, moderated the discussion.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides emergency assistance for individuals, families and businesses affected by the coronavirus pandemic.
It was the third stimulus bill passed by Congress in response to the pandemic. It was signed into law by President Trump on March 27.
Unprecedented in size and scope,the legislation was the largest-ever economic stimulus package in U.S. history, amounting to ten percent of total U.S. gross domestic product.
Congressman Vela said adults with a social security number that are up to date with their taxes could start receiving a one-time emergency relief check for $1,200 within the next week.
Burton, district director for the Lower Rio Grande Valley District Office of the SBA, said: \u201cThings have rolled out very rapidly.
Tune in to the attached one-hour podcast to hear a detailed discussion on the CARES Act and how the SBA is helping small businesses cope with a downturn in economic activity caused by the coronavirus pandemic.
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