From the Document: "Under Title IV of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act, P.L. 116-136), the U.S. Department of the Treasury made loans to specified industries and investments in Federal Reserve programs, authorized until the end of 2020. While Coronavirus Disease 2019 (COVID-19) confirmed cases and deaths continue to reach new highs, financial conditions stabilized shortly after enactment of the CARES Act. This raised the question of whether assistance should be extended at least until the pandemic ended or allowed to expire because financial stability had been restored. The December COVID-19-related relief package (specifically, Division N, Title X, of P.L. 116-260) did not change the year-end expiration date and permanently closed down all but one of the Fed programs backed by CARES funding. In effect, those programs may be revived only by a future act of Congress and not at the Federal Reserve and Treasury Secretary's discretion. This Insight provides some preliminary observations on Title IV assistance."
CRS Insight, IN11567
Congressional Research Service: https://crsreports.congress.gov/