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Tax Implications of the CARES Act

In a podcast transcript posted at, Nicole Kaeding, vice president of policy promotion and economist with the National Taxpayers Union Foundation, discusses the CARES Act’s provisions and the tax-related issues related to them with David Stewart, editor in chief of Tax Notes Today International. Kaeding’s remarks begin with an explanation of the Act’s role as an economic relief instrument versus a stimulus measure. Her comments are summed up with this statement, “This bill is about economic relief. We are not trying to grow the economy with this. We’re just trying to prevent it from backsliding even further.”

Kaeding’s remarks cover the mechanisms for delivering the relief funds to qualified individuals, as well as the support for businesses to be provided via the Act. The interview covers the technical fixes to the 2017 Tax Cut and Jobs Act and the long-term concerns associated with the funding of the $2.2 trillion CARES Act, concluding with an exchange of viewpoints on additional phases of economic relief, most notably the thoughts on infrastructure investment now being discussed.

Read the transcript here…


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