Congress

The House returns to Washington this week, with plans to vote Thursday on two pieces of legislation related to the SBA’s small business lending programs.

• The Paycheck Protection Program Flexibility Act, introduced by Reps. Phillips (D-MN) and Roy (R-TX) would make a number of changes to the PPP, including: allowing forgiveness for expenses beyond the 8-week covered period, eliminating the requirement that businesses spend at least 75% of the funds on payroll, extending the repayment period to five years (from two), providing expanded forgiveness for businesses unable to rehire due to the continuing pandemic, ensuring access to payroll tax deferment for PPP loan recipients, and extending the deadline to apply for a loan to the end of the year. Today, the bill was endorsed by both the bipartisan Problem Solvers Caucus and the New Democratic Coalition.

• The Transparency and Reporting for the Underbanked and Taxpayers at Home (TRUTH) Act, also sponsored by Rep. Phillips, would impose additional transparency measures on SBA, including requiring details on loans made in excess of $2 million.

As we reported in our Thursday update, there is also bipartisan Senate support for PPP reforms. The Senate is not in session this week, but could pass its own proposal via unanimous consent during a pro forma session scheduled for Thursday. The Senate could also act on its bill (or the House’s bill) when the full chamber returns on June 1. Leaders in both chambers are hoping to quickly resolve any differences.

Upcoming COVID-19 Related Committee Activity

• A May 27 House Ways and Means Committee hearing entitled, “The Disproportionate Impact of COVID-19 on Communities of Color”

• A May 28 House Appropriations Committee (Military Construction / Veterans Affairs Subcommittee) hearing entitled, “Department of Veterans Affairs - Response to COVID-19”

• A May 28 House Education and Labor Committee (Workforce Protections Subcommittee) hearing entitled, ““Examining the Federal Government’s Actions to Protect Workers from COVID-19"

• A May 28 House Small Business Committee (Contracting and Infrastructure Subcommittee) virtual forum on Small Business Development Centers

• A May 29 House Committee on Transportation and Infrastructure (Coast Guard and Maritime Transportation Subcommittee) virtual hearing entitled, “The Status of the U.S. Maritime Supply Chain During the COVID-19 Pandemic”

Recent Congressional Statements / Letters

• Bipartisan Finance Committee Members Introduce Bill to Prevent Garnishment of Relief Payments, May 22, 2020

• Senate Democrats Release Plan to Expand Health Care Coverage & Affordability During COVID-19, May 22, 2020

• Senate Finance Committee Ranking Member Wyden Outlines Affordable Housing Priorities For Next COVID-19 Relief Package, May 22, 2020

• Senators Tillis, Bennet & Hyde-Smith Introduce Bipartisan Legislation to Rebuild the Strategic National Stockpile and Strengthen Domestic PPE Manufacturing, May 22, 2020

• Senators Introduce Bipartisan Bill To Expand Telehealth, Help More People Receive Health Care, May 22, 2020

• Senators Murkowski, Collins, and Tillis Urge Regulatory Relief for Renewable Energy Industry, May 21, 2020

• Murray, Schumer, Pelosi, Pallone Joint Statement On The Trump Administration’s Disappointing National Testing Strategy Report, May 25, 2020

• Senator Peters & Representative Slotkin Seek Information On Coast Guard Readiness Amid Coronavirus Pandemic, May 22, 2020

• Speaker Pelosi Dear Colleague to All Members on Protecting America's Workers, May 22, 2020

• Bipartisan Energy and Commerce Leaders Urge Trump Administration to Develop a National COVID-19 Vaccine Plan, May 22, 2020

• ​Rep. Maloney Joins with Industry and Trade Association Leaders to Introduce the Pandemic Risk Insurance Act, May 26, 2020

• House Education and Labor Committee Holds Virtual Briefing on Impact of COVID-19 on America’s Child Care System, May 26, 2020

• House Education and Labor Committee Ranking Member Foxx: Protecting Job Creators, Entrepreneurs During COVID-19, May 22, 2020

• House Financial Services Committee Holds Bipartisan Virtual Roundtable on Impact of COVID-19 on Capital Markets, May 26, 2020

• House Judiciary Chairman Nadler Remarks for Virtual Roundtable on COVID-19 in Prisons & Jails, May 22, 2020

Other Stakeholder Statements / Letters

• National Retail Federation: Retailers say Pandemic Risk Insurance Act would provide 'greater resilience' in future outbreaks, May 26, 2020

• Retail Industry Leaders Association: Safety, Confidence, Creativity Key to Restoring Paychecks, May 21, 2020

White House / Agency Activity
White House

• Proclamation on Suspension of Entry as Immigrants and Nonimmigrants of Certain Additional Persons Who Pose a Risk of Transmitting Novel Coronavirus (Brazil), May 24, 2020

Related: May 25, 2020 Amendment to Proclamation

Department of the Treasury / Small Business Administration

• Interim Final Rule on Paycheck Protection Program (PPP) Loan Forgiveness, May 22, 2020

• Interim Final Rule on SBA PPP Loan Review Procedures and Related Borrower and Lender Responsibilities, May 22, 2020

Internal Revenue Service

• Treasury, IRS release latest state-by-state Economic Impact Payment figures for May 22, 2020, May 22, 2020

Department of Labor

• ICYMI: U.S. Department of Labor Acts to Help American Workers and Employers During the Coronavirus Pandemic, May 25, 2020

• U.S. Postal Service in San Jose to Pay Back Wages to Employee Denied Paid Sick Leave to Care for Child Whose School Closed Due To Coronavirus, May 21, 2020

• Arizona School District Pays Back Wages After Denying Paid Sick Leave To Worker Caring for Children at Home While Coronavirus Closes School, May 21, 2020

Department of Health and Human Services

• Report to Congress: COVID-19 Strategic Testing Plan, May 24, 2020

• HHS Announces 45-Day Compliance Deadline Extension for Providers, May 22, 2020

• HHS Announces $500 Million Distribution to Tribal Hospitals, Clinics, and Urban Health Centers, May 22, 2020

• HHS Announces Nearly $4.9 Billion Distribution to Nursing Facilities Impacted by COVID-19, May 22, 2020

Food and Drug Administration

• Coronavirus (COVID-19) Update: Daily Roundup, May 22, 2020

• Temporary Policy During the COVID-19 Public Health Emergency Regarding the Qualified Exemption from the Standards for the Growing, Harvesting, Packing, and Holding of Produce for Human Consumption: Guidance for Industry, May 22, 2020

• Temporary Policy Regarding Certain Food Labeling Requirements During the COVID-19 Public Health Emergency: Minor Formulation Changes and Vending Machines: Guidance for Industry, May 22, 2020

National Institutes of Health

• Peer-reviewed Data Shows Remdesivir for COVID-19 Improves Time to Recovery, May 22, 2020

Department of Homeland Security

• Weekly Update: DHS Response to COVID-19, May 26, 2020

• Acting Secretary Wolf Announces Additional Support to Firefighting Organizations, May 22, 2020

Customs and Border Protection

• CBP Extends Temporary Closure of Trusted Traveler Program Enrollment Centers Until July 6, May 26, 2020

Federal Emergency Management Agency

• FEMA Releases Latest State-by-State COVID-19 Data, May 22, 2020

Consumer Financial Protection Bureau

• CFPB Takes Action to Help Struggling Homeowners Seeking Mitigation Efforts; Consumers Seeking Small-Dollar Loans, May 22, 2020

Federal Communications Commission

• FCC And CISA Stress Need For Communications Industry Access And Resources During Pandemic, May 26, 2020

Commodity Futures Trading Commission

• CFTC Issues COVID-19 Customer Advisory on Commodity ETPs and Funds, May 22, 2020

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