The US Senate has unanimously passed the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, the largest fiscal stimulus package in modern US history, with an estimated amount of US$2 Trillion (9.2% of GDP).

To put that number into context, the Recovery Act of 2009 was $831 Billion (5.7% of nominal GDP at the time).

The Payden Economics Team has put together a summary of the key highlights of the 883-page bill and what they mean for the US economy.

Click here to read the summary.