The United States recorded 2 million cases of COVID-19 as of June, currently the most of any country in the world.
The S&P is in a slump, with stocks down more than 20 percent this year, and March 2020 representing the worst month for stocks since 2008. The stock market has slightly rebounded but is experiencing extreme volatility day to day. Economic indicators are low, and unemployment has continued to escalate, with 40 million people applying for unemployment benefits in the US.
Along with the CARES Act (detailed below), Congress is also considering enacting a new infrastructure plan to create thousands of new jobs. CARES Act 2.0 is in development and expected to be released this summer.