As the coronavirus (COVID-19) pandemic sends shock waves through every industry, one of the biggest challenges for businesses is adapting to fast-moving legislative updates.
On March 18, President Donald Trump signed the second bipartisan stimulus package, the Families First Coronavirus Response Act (FFCRA), which brings multiple changes for small and midsize businesses—all of which go into effect April 2.
The act legislates free testing for the virus, establishes emergency paid sick leave, expands family and medical leave, and provides several payroll tax credits for employers with fewer than 500 employees.
What does the FFCRA mean for small and midsize companies? Here’s a guide.