President Trump signs $2 trillion Coronavirus Stimulus Package (CARES Act)
WASHINGTON, D.C. (March 27, 2020) – The U.S. House of Representatives passed – and President Trump swiftly signed – the third Coronavirus stimulus package, H.R. 748, the Coronavirus Aid, Relief and Economic Security Act, (CARES Act).
Passage came after a long week of negotiations between the Administration and lawmakers.
The legislation, which includes increased funding and relief for small businesses and loan forgiveness programs, passed on a voice vote in the House.
“The financial impact on automotive repair facilities, during this crisis, continues to expand. The economic stimulus legislation … will provide opportunities to help auto repair facilities across the U.S. to recover,” said Bob Redding, ASA’s Washington, D.C. representative.
“As federal agencies begin to implement critical loan, grant and tax incentive programs for automotive repairers, ASA will continue to provide information to policymakers and repairers. Shops should monitor ASA’s media platforms for the latest information on these important economic stimulus programs.”
ASA has been working to ensure that small businesses, motor vehicle repair facilities and related facilities are not overlooked during the responses to this global health crisis and are declared essential services for the transportation workforce.
ASA advances professionalism and excellence in the automotive repair industry through education, representation and member services. To take advantage of the many benefits of membership in ASA, please visit ASAshop.org or call (817) 514-2901. Access our new mobile app by downloading on iPhone and Android devices.