1. Three…and Counting…:
Congress is circling in on passage of a third significant legislative package in the wake of the COVID-19 outbreak, designed to stimulate the U.S. economy, provide aid to struggling American workers, and shore up distressed businesses. This comprise is the most wide-sweeping economic stimulus in the history of the United States…and more proposals are coming.
Read a brief overview from our public policy team on the major parameters of these three initiatives here.
2. Relief for Small Businesses Arrives:
As part of the “Phase One” package of aid signed into law on March 6, 2020, the Small Business Administration (SBA) will provide an estimated $7 billion in low-interest disaster loans to small businesses and non-profit organizations that have been impacted by financial losses due to the coronavirus outbreak.
Learn more about this program and how to access these loans for yourself or your clients in need in this policy brief.
3. Employers Required to Provide Paid Sick Leave to Employees:
“Phase Two” of the federal stimulus, enacted on March 18, 2020, includes a requirement on employers to provide paid sick leave and partially paid family and medical leave to employees. The law provides refundable tax credits to employers designed to offset the costs of providing that leave.
Click here for details on whether and how those requirements could work for you personally or for those you serve – and how to access those tax credits.
4. Learn more LIVE this Wednesday, March 25, at 11:00 a.m. Eastern:
Dial-in to hear AALU’s Chris Morton and Armstrong Robinson along with Josh Holmes, President and Founding Partner of Cavalry, LLC and former Chief of Staff to Senate Majority Leader Mitch McConnell, as they discuss the latest on the federal government’s response to the COVID-19 crisis, including insights on negotiations and implications for your practice.
5. Coming Attractions…Deeper Dive on “Phase 3” Package:
In Thursday’s Navigating the Crisis newsletter, our policy team will provide an updated review of the major provisions of the largest component of the federal response to date, “Phase 3”or “3.0.”
Stay tuned for what’s coming.
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