Today, the Paycheck Protection Program and Healthcare Enhancement Act (the Enhancement Act) was signed into law. The Enhancement Act increases amounts authorized and appropriated under the Coronavirus Aid, Relief, and Economic Security Act (Public Law 116–136) (the CARES Act).
The Enhancement Act provides an additional $310 billion for the Paycheck Protection Program (PPP) under section
On April 21, 2020, the Senate passed in a pro forma session an “interim” coronavirus relief bill, titled the “Paycheck Protection Program and Health Care Enhancement Act” (the Senate Bill). The Senate Bill would amend the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), enacted March 27, 2020, to (i) increase the amounts authorized for the Paycheck Protection Program (PPP) in accordance with Section 7(a) of the Small Business Act, the economic injury disaster loans, and emergency grants under the CARES Act, and (ii) authorize additional funding for hospital and provider recovery and coronavirus testing. Notwithstanding complaints that have been lodged by various constituencies about the structure, administration, and fairness of the PPP that was implemented by the CARES Act, the new legislation would not modify the PPP’s lending program, choosing instead to appropriate additional funding so that more small businesses are covered. The following is a summary of the key provisions of the Senate Bill.
Continue Reading Senate Passes Paycheck Protection Program and Health Care Enhancement Act
The Department of the Treasury is moving with unusual speed to issue guidance on several new programs in the CARES Act that are designed to support the business community. Within the past few hours, guidance and application forms have been released by Treasury on the Paycheck Protection Program, Payroll Support to Air Carriers and Contractors,
Earlier today, the House of Representatives passed the CARES Act, the $2 trillion coronavirus relief package that passed the Senate on Wednesday night. The bill will now be delivered to the President who will sign it into law in short order. Links to the bill as passed by the Congress together with summaries of key
UPDATE: As a follow-up to our below post from earlier today, the Senate has now released summaries of Division A and Division B of the CARES Act, the third coronavirus relief package that was agreed upon in the Senate earlier this morning. Links to the summaries of Division A and Division B are below.
Senate Majority Leader Mitch McConnell (R-KY) has just released a bipartisan, coronavirus stimulus bill that is designed to provide substantial, immediate relief to American families and businesses that have been victimized by the coronavirus pandemic. Links to the two titles of the text of the legislation as released by Sen. McConnell are below. We anticipate
On March 14, 2020, the House of Representatives passed H.R. 6021, the “Families First Coronavirus Response Act,” which contains provisions related to mandatory paid leave for employers with fewer than 500 employees. Since passage, the House has been working on “technical corrections” to the bill prior to sending the bill to the Senate for consideration. The technical corrections were voted on and passed by the full House late in the evening on March 16, 2020.
Continue Reading Technical Corrections to House Bill Significantly Change Previous Provisions Regarding Paid Leave
On March 14, 2020, the House of Representatives passed H.R. 6021, the “Families First Coronavirus Response Act,” which contains provisions related to mandatory paid leave for employers with fewer than 500 employees. The bill, if enacted, mandates that covered employers provide paid leave under certain circumstances caused by the coronavirus outbreak. We anticipate