COVID-19 Washington Update: April 2020 #4

Kelley Drye & Warren LLP
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Yesterday saw continued negotiations related to the administration’s request for legislation to provide additional funding for the small business Paycheck Protection Program. Below is a synopsis of today’s federal government actions in response to COVID-19.

Congress

As highlighted in yesterday’s update, the Senate is expected to vote as soon as tomorrow on legislation that would provide the small business Paycheck Protection Program an additional $250 billion in funding (bringing the total allocation to $600 billion)

  • See the administration’s funding request here
  • This morning, Senate Democratic Leader Schumer (D-NY) and House Speaker Pelosi (D-CA) issued a joint statement saying that the “interim emergency” PPP package should: (1) ensure that half of the $250 billion is “channeled through community-based financial institutions” targeting the underserved; and (2) provide $100 billion in additional funding for the health sector, $150 billion for state and local governments, and a 15 percent increase in SNAP (food assistance) benefits
  • Congressional Republicans and the administration are pushing for a PPP-only bill, stating that the additional priorities outlined by Democrats are not needed immediately

Recent Congressional Letters

Agency Activity

Department of the Treasury

Department of Labor

Health and Human Services

Food and Drug Administration

Federal Communications Commission

Federal Energy Regulatory Commission

Export-Import Bank

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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