Baker Botts presented a webinar on the implications for emerging companies in the $2 Trillion Stimulus Bill. The “Coronavirus Aid, Relief, and Economic Security Act" or the “CARES Act” authorizes up to $2 trillion in government spending to address economic disruption caused by the COVID-19 pandemic.
The CARES Act provides a number of relief measures for emerging companies, including $349 billion for Small Business Administration (the “SBA”) loans, loan forgiveness, guarantees, and subsidies. The Treasury Department has issued implementation guidance providing further details on the Paycheck Protection Program (the “PPP”) created under the CARES Act. The CARES Act also provides assistance for workers, their families and businesses in a variety of ways, including tax credits and tax payment deferrals. This webinar outlined some of the main provisions of the CARES Act that impact emerging companies and how emerging companies can access the programs under the CARES Act.
Our speakers included Michael Torosian (Co-Leader of the Emerging Companies and Venture Capital Practice, San Francisco and Palo Alto), Ron Scharnberg, (Tax Partner, Houston) and Gail Stewart (Section Chair, Employee Benefits & Executive Compensation, Houston).
Register here for access to the webinar recording.
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