COVID-19 Washington Update: April 2020 #9

Kelley Drye & Warren LLP
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Below is a synopsis of the federal government actions in response to COVID-19 today and over the weekend – including a pending bipartisan agreement on a $500 billion interim emergency funding bill.

Congress

Congress and the administration are close to a deal on an “interim emergency” relief package, although negotiations are ongoing; as it stands now, the package is expected to include:
  • $250 billion for the Paycheck Protection Program, plus an additional $50-60 billion for small lenders specifically
  • $65 billion for the SBA’s disaster fund, which covers the EIDL / emergency advance program
  • $75 billion for hospitals and $25 billion for testing
The Senate could vote on the agreement as soon as Tuesday, with a House vote possible as soon as Wednesday (House leaders have pledged to give Members 24-hours’ notice to travel to Washington for a vote)

While Democrats are still pushing for additional funding for state and local governments and for food assistance, that funding is likely to be put off until the next relief package
  • A new plan unveiled by Senators Cassidy (R-LA) and Menendez (D-NJ) would establish a $500 billion stabilization fund “to help states and local governments respond to the current public health and economic crisis, while maintaining essential services”; see their April 19 press release here
Meanwhile, Members continue to press SBA and Treasury on implementation of the PPP: Recent Congressional Statements / Letters

White House / Agency Activity

White House Department of the Treasury Department of Labor U.S. Department of Agriculture Department of Homeland Security Department of Health and Human Services Food and Drug Administration Centers for Medicare and Medicaid Services Environmental Protection Agency National Credit Union Administration

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. Attorney Advertising.

© Kelley Drye & Warren LLP

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