Support guides for small businesses, employees, non-profit organizations, and veterans
JASPER, IN – Today, U.S. Senator Mike Braun released a number of resource guides regarding the Coronavirus Aid, Relief, and Economic Security (CARES) Act that will help Hoosiers navigate through the coronavirus.
“My staff and I are here to help Hoosiers, and these guides will help small-business owners, non-profit organizations, veterans, students, and employees across the state navigate the federal response to the coronavirus. Again, it’s very important for Hoosiers to wash their hands, limit their time in public, help their neighbors, and together we will defeat the coronavirus.“
- The resources contained within this document are a culmination of state and federal efforts to combat the economic crisis created by the public health battle being waged against the novel coronavirus. For help on any issues related to COVID-19 please contact my office using CoronavirusHelp@braun.senate.gov.
- The CARES Act provides non-profit organizations assistance during the COVID-19 pandemic primarily in two ways: provides support to certain nonprofit employers, and incentivizes charitable contributions.
- The CARES Act creates a Paycheck Protection Program for small employers, self-employed individuals, and “gig economy” workers, appropriating nearly $350 billion to mitigate challenges caused by the COVID-19 pandemic.
- The CARES Act includes $10.5 billion for the Department of Defense to support the military’s response to the Coronavirus and ensure we protect our forces during this vulnerable time in our history. Notable appropriations are listed below.
- Who is eligible for a recovery rebate? All U.S. residents with adjusted gross income under $75,000 ($112,500 for head of household and $150,000 married), who are not the dependent of another taxpayer and have a work-eligible Social Security Number, are eligible for the full $1,200 ($2,400 married) rebate. They are also eligible for an additional $500 per child. A typical family of four is eligible for a $3,400 recovery rebate.
- Stipulates that borrowers will not accumulate interest on student loans for three months, and do not have to make payments on those loans.
- Coronavirus Preparedness and Response Supplemental Appropriations Act (Phase 1): On March 6, 2020, President Trump signed into law an $8.3 billion in emergency funding to combat COVID-19. The package provides critical funding to the Centers for Disease Control (CDC) in response to COVID-19, as well as funding to: help develop vaccines and treatments for COVID-19, enable the Strategic National Stockpile (SNS) to procure personal protective equipment (PPE), ventilators, and other medical supplies; and give states the boost in the resources needed to combat the virus.
- The Department of Veterans’ Affairs (VA) is receiving $19.6 Billion through the Cares Act. The VA serves as a backup health system in times of crisis—often referred to as the VA’s 4th mission. These funds will help ensure continuity of service to our Veterans, including homeless and low income Veterans, and prepare for the possibility of being activated for 4th mission.