CARES Act “filled with options” to help small businesses, MAGNET says

The Cleveland-based Manufacturing Advocacy and Growth Network (MAGNET) is working with several groups to help manufacturers navigate the effects of the COVID-19 pandemic, CantonRep.com reports. Their efforts include studying the CARES Act recently passed by Congress “to find the changes that can benefit small businesses,” according to the article. MAGNET says the CARES Act “is filled with options to assist small business owners,” including “a loan of up to 2.5 times a company’s average monthly payroll,” deferment of the 6.2% Social Security tax for 2020 until the end of 2022, and options “for expanding and paying for unemployment.” For more, read the full article.

Federal Updates, Miscellaneous