The American Rescue Plan Act establishes a $28.6 billion Restaurant Revitalization Fund to distribute grants of up to $10 million to restaurants and other food and beverage businesses. Eligible restaurants, bars, food...more
President Biden signs relief bill into law and begins implementation. President Biden has now signed the American Rescue Plan Act, a $1.9 trillion investment and stimulus package designed to address the ongoing COVID-19...more
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
Nearly one year ago, in response to the COVID-19 pandemic and related economic downturn, the Small Business Administration-backed Paycheck Protection Program (PPP) provided loans to help businesses keep their workforce...more
It is anticipated that the U.S. House of Representatives will vote on the $1.9 Trillion stimulus package titled the American Rescue Plan Act of 2021 as soon as Friday evening, February 26. The bill includes provisions...more
This article discusses which areas of the hotel and restaurant industries minimized the impacts of the COVID-19 pandemic, and in some cases beat predictions. It also looks at how those efforts and other factors of the last...more
Budget Time in New York- Last week, we reviewed some of the tax measures discussed by Governor Cuomo in his report on the State of the State, and how they may affect New York businesses and their owners. Today, we’ll take...more
The $2.3 trillion COVID-19 relief and government funding package includes $7 billion in funding for broadband programs, as well as reforms to the PPP program to expand television and radio station eligibility. Overall, the...more
The recently-passed Consolidated Appropriations Act, 2021 (the “CAA”) augments the CARES Act by expanding the existing Paycheck Protection Program (“PPP”) and adding additional stimulus programs in an attempt to lay some...more
On December 27, 2020, President Trump signed into law the $900 billion stimulus package passed by Congress on December 21. This package contained some much needed tax guidance and support for many employers across the...more
After months of deadlock, a $900 billion stimulus package promises direct payments, unemployment benefits and small business aid. On December 27, President Trump signed into law a $900 billion COVID relief package and a...more
On Dec. 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021, an omnibus stimulus and budget act that includes the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (HHSB Act). The...more
On Sunday, December 27, 2020 President Trump signed into law the $900 billion stimulus package enacted by Congress on December 21. His signature ensures that this new relief spending for individuals, families, workers, and...more
On Monday, December 21, Congress enacted a $900 billion stimulus package to support American workers and businesses impacted by COVID-19. This summary provides an overview of the business and tax relief measures contained in...more
Congress passed additional COVID-19 relief legislation (H.R. 133) on Monday evening, December 21, 2020. Today, President Trump is expected to sign the deal, which includes a $900 billion economic stimulus package that will...more
In its massive new pandemic relief and stimulus package, Congress has significantly modified the Paycheck Protection Program (PPP) to allow for second draws from the program, to simplify the loan forgiveness process, to...more
Congress voted last night to approve a $900 billion COVID-19 stimulus package that includes key measures for health care providers. President Trump has indicated he will sign the new legislation once it reaches his desk....more
Late Sunday night, Congress came to an agreement on a long-awaited second stimulus package. President Trump is expected to sign the highly anticipated $900 billion stimulus package in the coming days. Out of that total...more
On December 21, 2020, Congress agreed to a $900 billion stimulus bill, passed as The Consolidated Appropriations Act, 2021 (“the Act”). The 5,593-page Act includes funds designated for direct relief, additional money for...more
Last night (Dec. 21, 2020), the U.S. House of Representatives and then the U.S. Senate passed a long-debated $900 billion stimulus package as part of broader overall government funding legislation. The bill now goes to the...more
Congress has passed the long-awaited bipartisan stimulus package on December 21, 2020 which is expected to be signed by the President. Included in this package are significant changes to the existing Paycheck Protection...more
The Small Business Reorganization Act (“SBRA”), which became effective February 19, 2020 after being signed into law in August 2019, created a new Subchapter V of Chapter 11 of the Bankruptcy Code with a stated purpose “to...more
It has been more than eight months since the enactment of the CARES Act, yet here we are, with the end of 2020 in sight, and we are still debating whether taxpayers should be allowed to claim a deduction for business expenses...more
On Saturday morning, November 7, 2020, major news organizations called the 2020 presidential election for Joe Biden and Kamala Harris. On Sunday, November 8, 2020, the Biden-Harris team updated its transition website to...more
Senator Mitch McConnell expresses new interest in passing a COVID-19 relief package in the lame-duck session. Despite agreeing on the need for a COVID-19 relief package, Republicans in the Senate and Democrats in the House...more