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April 7, 2020



COVID-19 Update: A Deeper Dive
Community Development Block Grants Under CARES

House Democratic Leaders have begun to brief the Democratic Caucus on the outline of the next phase of COVID-19 Response legislation and it appears that the next stimulus package will focus on replenishing funds for programs established in Congress’s $2.2 trillion virus relief bill signed into law last month but the Speaker also noted that the next stimulus bill should assist state and local governments, with an emphasis on smaller municipalities with fewer than 500,000 residents

The CARES Act did include $150 billion in relief resources for states and in today’s “Deeper Dive” we focus on how Community Development Block Grants under the CARES Act can be leveraged by state and local governments to address the COVID-19 crisis.

You can read the full breakdown of the new updates and deep-dive analysis here.

Please feel free to share this information internally or use it for client service.

Today's Topline Updates

President Trump announced over the weekend that he would ask Congress for more money for small business loans if the $349 billion already designated for the program runs out. Today, Majority Leader McConnell announced a bipartisan goal of infusing $200-250 billion in additional resources into the Paycheck Protection Program by as early as Thursday.
 
Chairwoman Maxine Waters released a list of priorities that the Democratic Members of the House Financial Services Committee hopes to see in a Phase 4 bill. More details in today's update.
 
Speaker Pelosi announced that the House is moving to require the electronic submission of documents related to floor action as an effort to “reduce the physical presence of Members and staff in the Capitol.” Starting today, all floor documents, including bills, resolutions, co-sponsors and extensions of remarks, will be submitted to a “secure email system.”

 


For reference, a summary and review of provisions contained in the Coronavirus Aid, Relief,
and Economic Security Act (CARES Act), S. 3548 can be found here.
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April 6, 2020



COVID-19 Update: A Deeper Dive
Navigating the Paycheck Protection Program

The Treasury Department noted on Friday that “On Day 1 of the Paycheck Protection Program, over 1,000 banks have processed over $5,400,000,000 of small business loans to keep employees on the payroll. We also issued additional guidance for the PPP and Airline provisions of the CARES Act."

Today’s “Deeper Dive” focuses on what you need to know as you consider Navigating the Paycheck Protection Program.

You can read the full breakdown of the new updates and deep-dive analysis here.

Please feel free to share this information internally or use it for client service.

Today's Topline Updates

On Friday, April 3, the Department of Labor released its monthly jobs report, which reported that the U.S. economy shed 701,000 jobs, versus the expected 100,000, and that the Unemployment Rate rose to 4.4% versus 3.8% expected by the Department.
 
The jobs report excludes the two-week period at the end of March that saw new unemployment claims skyrocket to a combined 9.9 million claims. “To put the figures in some perspective, it took six months to add 10 million people to the unemployment rolls during the Great Recession following the financial crisis in 2008-2009. That has now happened in two weeks with coronavirus.”
 
U.S. Treasury Department guidance on how $349 billion in federal loans for small businesses reeling from the economic fallout of the coronavirus pandemic will be handled is updated regularly and potential applicants should check here.


 


For reference, a summary and review of provisions contained in the Coronavirus Aid, Relief,
and Economic Security Act (CARES Act), S. 3548 can be found here.
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April 1, 2020



COVID-19 Update: A Deeper Dive
Healthcare And The CARES Act

Our Deeper Dive today focuses on general healthcare related provisions in the CARES Act, and tomorrow’s edition will review how the CARES Act Impacts Long-Term Care Providers in greater detail.

You can read the full breakdown of the new updates and deep-dive analysis here.

Please feel free to share this information internally or use it for client service.

Today's Topline Updates

There are between 160,000 and 200,000 ventilators in the United States, according to the Society of Critical Care Medicine, but as many as 960,000 could be needed in a worst-case scenario of infections. New York Gov. Andrew Cuomo has said the Federal Emergency Management Agency and states are competing for shipments of ventilators. The federal government is expecting at least 20,000 new machines for the Strategic National Stockpile by mid-May.

DOL published a temporary rule issuing guidance on implementing sick leave and FMLA provisions as part of the Families First Coronavirus Response Act (FFCRA). DOL’s Wage and Hour Division (WHD) posted a temporary rule issuing regulations pursuant to this new law, effective today, April 1, 2020 and will post a recorded webinar on Friday, April 3, 2020, to provide interested parties a more in-depth description and help them learn more about the FFCRA.
 


For reference, a summary and review of provisions contained in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), S. 3548 can be found here.

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March 30, 2020


COVID-19 Update: CARES Act Is Law
A Deeper Dive - Small Businesses

March 30, 2020

Soon after the House passed The Coronavirus Aid, Relief, and Economic Security Act by voice vote on March 27, 2020, President Trump signed the measure into law.

In today’s HBS COVID-19 Update, we have begun a series of deeper dives intended to provide a higher level of analysis on certain critical aspects of the three COVID-19 legislative response bills.  We start this series today with “A Deeper Dive - Small Business Administration Provisions in the CARES Act.”

You can read the full breakdown of the new updates and deep-dive analysis here.

Please feel free to share this information internally or use it for client service.
 


For reference, a summary and review of provisions contained in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), S. 3548 can be found here.

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March 27, 2020


COVID-19 Update: 
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) Heads to President Trump’s Desk

The United States House of Representatives was gaveled into session this morning at 9:00 AM and after some debate, the House passed The Coronavirus Aid, Relief, and Economic Security Act by voice vote. The massive package totaling $2.3 trillion now heads to the President for his signature.

A detailed breakdown of the new updates can be found here.

Please feel free to share this information internally or use it for client service.

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March 26, 2020


After debating concepts and policies for the last four days, when a final deal was agreed to, legislative drafters began the difficult task of putting policies to paper. After a highly contentious day fraught with fights over everything from unemployment insurance benefits to Hyde Language (abortion / life issues) to funding for the Kennedy Center, the Senate finally passed the legislation at 11:45 PM by a vote of 96-0.

The final package totaled $2.3 trillion and the “CARES Act, S. 3548,” the 3rd Phase Package, officially heads to the House of Representatives for consideration, where it is expected to pass by voice vote on Friday, March 27, 2020.

A detailed breakdown of the new updates can be found here.

Please feel free to share this information internally or use it for client service.
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March 25, 2020


Overnight, the White House and Senate leaders struck a deal over a $2-trillion package to provide aid to economy amid the Covid-19 pandemic. The Senate worked all morning to draft legislative language that reflected the compromise agreements hammered out by the negotiators.

The Senate continues debating the legislation as we release this update and while we still anticipate a vote this evening, final consideration could be delayed by concerns raised by Senator Lindsey Graham and others over what they have characterized as a “major drafting error” that they believe could incentivize layoffs by providing unemployment compensation over and above replacement wages.

A detailed breakdown of the new updates can be found
here.

Please feel free to share this information internally or use it for client service.

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March 20, 2020

If your senator is on the Senate Finance Committee, you should have received an email from us asking you to send a statement to your Senator now. See the devastating impact document here as well as the list of Senators with emails. 

Simply send an email to the two addresses for your Senator requesting the staff to share the document with your Senator.  Example:  "Dear Beth:  The information in the attached document is essential to relieve the economic devastation to our industry.  Please share this information with Senator ________."

Your immediate action is critical to save our industry.  The time is now, it is up to you.

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March 19, 2020

Coronavirus Legislation: FAQ

Ways and Means Republicans assembled a comprehensive FAQ to help explain how the federal government is responding to the coronavirus pandemic. It covers what small businesses, seniors, and workers need to know and is broken into sections about what Congress has passed, what Congress is going to do next, and what the Administration has done to help Americans fight this global pandemic.
Read here>>>

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March 18, 2020

Q&A on important timely issues surrounding the effects of the COVID-19 outbreak. 
Because of Attorney Client Privilege you must access this through the members only section. 
Access the document
here but will need to sign in using your email and password.
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Letter to Federal Legislators
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COVID-19 Update 3-18-2020
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IMPORTANT STATEMENT FROM OABA PRESIDENT
Current info on status of H2B visa processing & recommendations to address the challenges.


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