COVID-19 Washington Update: May 2020 #5

Kelley Drye & Warren LLP
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Today’s federal government activities in response to COVID-19 include:

Congress

Following yesterday’s release of House Democrats’ $3 trillion Heroes Act (more in our Tuesday update), Speaker Pelosi today highlighted Fed Chairman Powell’s comments regarding the need for additional economic relief.

  • In a speech today, Powell said: “Additional fiscal support could be costly, but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery. This tradeoff is one for our elected representatives, who wield powers of taxation and spending.”
  • Powell also said the Fed would continue to use its lending tools “to their fullest until the crisis has passed and the economic recovery is well under way.”

Also today, House Democrats released additional details on their proposal to temporarily allow for remote voting and virtual committee proceedings during the pandemic.

The House is expected to vote on the temporary rule change on Friday, in addition to voting on the Heroes Act.

Recent Congressional Statements / Letters

Other Stakeholder Letters

White House / Agency Activity

White House

Department of the Treasury

Cybersecurity Infrastructure and Security Agency

Department of Health and Human Services

Centers for Medicare and Medicaid Services

Department of Defense

Export-Import Bank

Federal Housing Finance Administration

Consumer Financial Protection Bureau

Federal Communications Commission

State / Local Activity

Given the plethora of state and local actions, we recommend MultiState’s COVID-19 Policy Tracker as a comprehensive tool to monitor the response

[View source.]

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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