Why Untapped Billions in Pandemic Aid Funds Are in Limbo

The U.S. government’s central economic response to the coronavirus, the $2.2 trillion Coronavirus Aid, Relief, and Economic Security (“Cares”) Act enacted in March, included $500 billion in financing to avert a crippling credit crunch. Much of that funding remains untapped, and what happens to it going forward is a point of contention between the outgoing Trump administration and the incoming Biden one.