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Email On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act (the “Act”) into law following the Act’s approval by both chambers of Congress. The Act is aimed at reducing the economic impact of the novel coronavirus 2019 (“COVID-19”) pandemic and authorizes $2.1 trillion in aid to various sectors of the economy. https://www.cadwalader.com/resources/clients-friends-memos/covid-19-update-key-provisions-of-the-coronavirus-aid-relief-and-economic-security-cares-act