Government

Federal Stimulus Bill Allocates $2.2 Trillion for Coronavirus Research and Relief

An Additional $2.3 Trillion from the Federal Reserve Includes Billions for Business Loans

Published 4-15-2020

Federal financial measures have been approved in the past few weeks to shore up the economy during the COVID-19 pandemic, with direct monetary assistance and business loans totaling $5.5 trillion, and more support and flexibility for research universities and government contractors. The federal stimulus package—the Coronavirus Aid, Relief, and Economic Security (CARES) Act—is intended to pump $2.2 trillion dollars into the economy, primarily in the healthcare and research sectors, and to provide emergency relief to institutions, businesses, and workers whose livelihoods have been impacted by the pandemic. The specifics of how it will be implemented are still evolving, and it is likely that additional stimulus bills will be considered in the coming months, including investments in infrastructure for the nation’s research enterprise.