Congress has passed the Coronavirus Aid, Relief, and Economic Security Act, providing $2.2 trillion in financial relief to laid-off workers, hospitals, and distressed industries. The bill provides an extra $600 per week in unemployment benefits to each recipient for up to four months and extends benefits to previously ineligible categories of workers, including independent contractors, those with limited work history, and self-employed persons. It provides sliding-scale cash payments to hard-pressed taxpayers. It also provides full-funding for the first week of regular unemployment for states that waive their waiting period and extends benefits for an additional 13 weeks after the regular unemployment period ends, through December 31, 2020. The bad news is that it provides little economic relief to Massachusetts state government, which faces plummeting revenue and increasing expenses.
Download Report: The Federal Coronavirus Relief Act impact on Massachusetts