The Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was signed into law on March 27th, provides a number of supports to states, families and individuals which are intended to provide economic relief and counteract some of the damaging effects of the COVID-19 pandemic. Among the most critical provisions, the CARES Act provides “recovery rebates” for nearly every household and expands unemployment assistance for those most impacted by job loss due to the declining economy. By boosting families’ incomes, the measures improve consumer demand and mitigate the economic decline. This paper summarizes these provisions, along with ways that Missouri could maximize their benefit for Missourians.
