COVID-19 Stimulus Legislation – “CARES Act”

Summary

On March 27, 2020, Congress passed the “CARES Act,” which provided approximately $2 trillion in federal spending aimed to ease the burdens associated with COVID-19. NRECA provided a top-line summary after the bill became law. Key programs included in the “CARES Act” that could help co-ops and their member-consumers during this crisis:

  • Low Income Home Energy Assistance Program (LIHEAP) – $900 million
  • Paycheck Protection Program – $349 billion
  • Broadband/Telecom Provisions – $325 million
  • Federal Emergency Management Agency (FEMA) – Disaster Relief Fund (DRF) – $45 billion

CARES Act Fact Sheet

Electric Co-ops and Federal, State and Local CARES Act Funding