The CARES Act: Are the Tax and Financial Relief Provisions Sufficient in a Time of Economic Crisis?
Constance J Crawford*1, Corinne L Crawford2, Glenn C. Vallach1
1Anisfield School of Business, Ramapo College of New Jersey, Mahwah, NJ, USA
2Borough of Manhattan Community College, City University of New York, New York, NY, USACitation:
Crawford CJ, Crawford CL, Vallach GC (2021) The CARES Act: Are the Tax and Financial Relief Provisions Sufficient in a Time of Economic Crisis? SciTech Central COVID-19
Received: March 30, 2021 Accepted: April 01, 2021 Published: April 01, 2021
The impact of the COVID-19 Pandemic has been staggering for the entire US economic system. Entire industries have been thwarted from operating on any sustainable level. In response, Wall Street reacted with a resounding CRASH… and so… the need for federal intervention became a stark reality for the US economic system’s survival. As major retailers collapse into bankruptcy, the need for continued federal financial support is tantamount to survival for a wide array of fledgling companies. Will the CARES legislation be sufficient to prevent a United States’ economic freefall?
Keywords: CARES Act, Bankruptcy, Pandemic