Below, please find a summary of today’s federal government activities in response to COVID-19.
During today’s Senate Small Business Committee hearing on CARES Act small business lending programs, Ranking Member Cardin (D-MD) highlighted his plans to introduce the Prioritized Paycheck Protection Program (P4) Act to provide additional PPP funding to smaller businesses particularly hard hit by the pandemic.
Also during the hearing, in response to a question from Chairman Rubio (R-FL), Treasury Secretary Mnuchin confirmed that borrowers using less than 60 percent of their PPP loan proceeds for payroll costs during the forgiveness covered period would continue to be eligible for partial loan forgiveness. Chairman Rubio had previously expressed concern about how the recently-enacted PPP Flexibility Act was written and implications for loan forgiveness.
Senators on both sides of the aisle pressed SBA Administrator Carranza on the agency’s implementation of the Economic Injury Disaster Loan (EIDL) program. Administrator Carranza said all EIDL applications in the queue will be in SBA’s loan processing portal (though not processed) by next week.
Looking ahead to the next relief package, Secretary Mnuchin said the focus should be on getting people back to work. He specifically mentioned funding to encourage businesses to rehire, changes to Unemployment Insurance, funding for states, and – potentially – more direct payments to further stimulate the economy.
Separately, Senator Cornyn (R-TX) today said Senate Republicans continue work on legislation to shield businesses and other entities from COVID-related liability so long as they are following in good faith the guidelines of a government entity of their choosing – federal, state, or local.
Also today, in a statement responding to CBO’s GDP predictions, Speaker Pelosi reiterated that “the most expensive course of action is no action” and urged Senate passage of the Heroes Act.
Recent Congressional Statements / Letters
- Small Business Committee Chair Rubio Chairs Hearing on the Implementation of Title I of the CARES Act, June 10, 2020
- Senators Cardin, Coons & Shaheen Announce Legislation to Get Capital to Small Businesses Hardest Hit by COVID-19, June 10, 2020
- Senate Finance Committee Ranking Member Wyden, MomsRising, Workers Highlight Benefits Of Supercharged Unemployment Insurance, June 9, 2020
- Senator Brown Presses Labor Secretary for Response to Letter Requesting Comprehensive Assessment of Unemployment Insurance, During Senate Finance Hearing, June 10, 2020
- Senators Murkowski, Manchin, and Sinema Introduce Legislation to Help Families, Youth, and Children Faced with Homelessness Amid COVID-19 Pandemic, June 10, 2020
- Senators Rounds, Smith Lead Bipartisan Group of Senators to Introduce Legislation Expanding Mental Health Services in Rural America, June 9, 2020
- Senators Cortez Masto, Brown Lead Democratic Letter Urging Administration to Improve Gig Workers’ Access to Unemployment Benefits, June 9, 2020
- Senate Energy Committee Ranking Member Manchin Introduces Bill To Protect Firefighters During COVID-19 Pandemic, June 9, 2020
- Senate HELP Committee Chairman Alexander: 56 Million Students Going Back to School This Fall Will be Surest Step Toward Normalcy, June 10, 2020
- Senate HELP Committee Ranking Member Murray Pushes for Federal Aid To Help K-12 Schools Address Growing Inequity Due to COVID-19, June 10, 2020
- Bipartisan, Bicameral Leaders Commend Relief Funds for Medicaid-Dependent Providers, June 10, 2020
- E&C Announces 6/16 Subcommittee Hearing on COVID-19’s Impact on the Energy Sector, June 9, 2020
- E&C Republicans Urge for Funding for Improved Broadband Mapping, June 10, 2020
- House Small Business Committee Chairwoman Velázquez and Ranking Member Chabot Lead Bipartisan Letter to SBA on Issues Within COVID-19 Relief EIDL Program, June 9, 2020
- House Financial Services Committee Ranking Member McHenry: Paycheck Protection Program is Supporting our Nation’s Economic Recovery, June 10, 2020
- House Agricultural Leaders Peterson, Costa, Plaskett, and Vela Highlight Coronavirus Food Assistance Program (CFAP) Concerns in Letter to Perdue, June 9, 2020
- Oversight Select Subcommittee 6/11 Briefing on "The Devastating Impact of the Coronavirus Crisis in America’s Nursing Homes", June 10, 2020
- House Education and Labor Committee Holds Virtual Briefing on Union Elections Amid COVID-19, June 10, 2020
Other Stakeholder Statements / Letters
Department of Labor
Department of Health and Human Services
Food and Drug Administration
Centers for Medicare and Medicaid Services
National Institutes of Health
Federal Emergency Management Agency
Department of Defense
Department of Education
Department of Agriculture
Environmental Protection Agency
Federal Communications Commission
Securities and Exchange Commission
Commodity Futures Trading Commission
Federal Reserve issues FOMC statement, June 10, 2020
Federal Reserve Board and Federal Open Market Committee release economic projections from the June 9-10 FOMC meeting, June 10, 2020
For Lenders: Updates to the Main Street Lending Program, Friday, June 12 at 2 p.m. EDT
For Borrowers: Updates to the Main Street Lending Program, Monday, June 15 at 2 p.m. EDT
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