The U.S. House of Representatives on March 10, 2021, passed the Senate-amended H.R. 1319, the American Rescue Plan (ARP). The ARP provides $1.9 trillion in additional relief to respond to the novel coronavirus (COVID-19)....more
3/11/2021
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President Joe Biden has proposed an "American Rescue Plan," which was described as an "emergency legislative package to fund vaccinations, provide immediate, direct relief to families bearing the brunt of the COVID-19 crisis,...more
1/22/2021
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As previously reported, in response to the coronavirus (COVID-19) pandemic, the Federal Reserve and the U.S. Department of the Treasury unveiled two lending programs – the Main Street New Loan Facility (MSNLF) and the Main...more
The CARES Act included language permitting the Federal Reserve Board to establish a "Main Street Lending Program," or other similar program or facility to support lending to small and mid-sized businesses. Toward this end,...more
4/22/2020
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The Federal Reserve Board and U.S. Department of the Treasury Secretary Steven Mnuchin on April 9, 2020, announced new and expanded measures aimed at providing up to $2.3 trillion in relief to U.S. businesses, states and...more
Congress has completed three rounds of legislation in response to the COVID-19 pandemic and resulting economic crisis. These include an $8.3 billion supplemental appropriation (round 1) signed into law on March 6, as well as...more
President Donald Trump on March 27, 2020, signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), providing $2.2 trillion of emergency appropriations. The CARES Act provides a wide range of...more
Congress has completed two rounds of legislation in response to the coronavirus (COVID-19) pandemic and resulting economic crisis. These include an $8.3 billion supplemental appropriation (round 1) signed into law on March 6,...more
Following Senate passage of the Families First Coronavirus Response Act (round two), the Administration and Senate are already busy finalizing measures to be included in round three, which will be focused on economic distress...more