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    COVID-19 Economic Support Mechanisms

    Successive governments have announced a plethora of mechanisms to support businesses though the effects of COVID-19. To date, this has been done primarily on a country-by-country basis, leading to an array of different schemes across the EU and in other jurisdictions.

    The US government has enacted three aid packages to provide economic and fiscal relief due to the novel coronavirus (“COVID-19”). The Phase 3 aid package, signed into law on March 27, 2020, and known as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), authorizes approximately $2 trillion in federal stimulus funds to combat the crisis.

    We have produced a summary of the economic support mechanisms currently available in various jurisdictions in Europe (including the EU1 ) and in the Americas. It is not designed as a detailed review of the underlyinglegislation. Specific advice should be sought on a country-by-country basis. We have split our analysis into overview tables, which allow for speedy review of the state of affairs, and underlying tables which provide more information for each country. View and download the document here –  Download Document

    We intend to continue to provide further information and clarifications over time, as well as to continue to add further jurisdictions.

    Contacts

    Legal Updates

    Small Business Loans:

    Business Liquidity:

    Tax Benefits:

    Employer Mandates:

    Government Contracts:

    Multifamily Housing:

    Transportation & Infrastructure:

    Federal Aid to State and Local Governments (https://www.mayerbrown.com/en/perspectives-events/publications/2020/04/summary-of-cares-act-state-and-local-government-relief-provision