Coronavirus Update | NAWBO

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Advocacy

Coronavirus Update

April 3, 2020 7:30 PM

Paycheck Protection Program Roll Out

As of late Thursday night, many banks were waiting to participate in the Paycheck Protection Program. Some lenders were pointing to the initial 0.5% interest rate as the deterrent, but the late change to 1% in the interim final rule may make it more appealing for banks. Bottom line, it needs to be attractive for both sides, and it still remains to be seen when the money will start flowing.

Bank of America was one of the first big banks to participate in this program. At the beginning of the day, they were only servicing existing customers, but later in the day, they were servicing everyone. News reports stated that they had received 60,000 applications worth $6M by 9 AM.

ICYMI: Webinar on Family First Coronavirus Response Act

NAWBO Lawyer’s Group presented a webinar on the Family First Coronavirus Response Act. Click here to access the recording. They discussed both Emergency Paid Sick Leave and the Emergency Family Medical Leave portions of the bill. If you aren’t registered with the NAWBO Institute you will need to register first. Here is a link to the temporary rule which is effective April 1, 2020 - December 31, 2020.

April 2, 2020 8:06 PM

The Paycheck Protection Interim Final Rule came out. What does that mean? Basically, everything before this document doesn’t matter. They will go by this document instead of what you may have seen written in the law.

SBA Interim Final Rule for Payment Protection Program Released
Click here to review the Interim Final Rule for the Paycheck Protection Program. Please understand this is the most up-to-date information for the Paycheck Protection Program. This document should be used when you are looking at how the program will work.

Some topline items include:

  1. First come, first serve! If you want one, APPLY EARLY!
  2. To get a loan: Go through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. If your current lending partner is not participating, contact your local SBA assistance center for a list of lenders in your area.
  3. Independent contractors have the ability to apply for a PPP loan, so they do not count for purposes of a borrower’s PPP loan calculation.
  4. It will be a 2 year loan with a 1% interest rate.
  5. To apply: The applicant must submit SBA Form 2483 (Paycheck Protection Program Application Form. Here is a sample.) and payroll documentation.
  6. Go to page 8 section E and scroll down for examples of how to calculate maximum borrow amount.

ICYMI: NAWBO Sends Email about Paycheck Protection Program

Click here to see it. We want to make sure NAWBO members as much information as possible before the application process opens tomorrow.

Families First Coronavirus Response Act
TOMORROW, Friday, April 3, 2020 at 10:30 a.m. ET

Get up to date on the Coronavirus Response Act, including what we know, what we don’t know and how to best prepare. *APPLIES TO ALL EMPLOYERS WITH UNDER 500 EMPLOYEES
Presented by Susan Dawson of NAWBO-Chicago
REGISTER NOW

What the CARES Act Means for Your Business & What’s Next

Join our friends at Public Private Strategies for a webinar to hear about the programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress are intended to assist business owners with needs they have right now. When implemented, there will be many new resources available for small businesses, as well as certain non-profits and other employers. During this webinar they will:

  1. Provide information about the major programs and initiatives that will soon be available from the Small Business Administration (SBA) to address these needs
  2. Address additional tax provisions that are outside the scope of SBA
  3. Hear views from the small business leaders across the country

To register, click here.

 

April 1, 2020 8:25 PM

Short Video update here.

White House Call on Paycheck Protection Program

NAWBO represented WBOs on a call with the White House regarding guidance for the Paycheck Protection Program. They are still working on all the final regulations and NAWBO will set up a call once final guidance is issued.

Small Business Roundtable Sends Letter to Secretary Mnuchin and Administrator Carranza

On April 1, 2020, NAWBO along with 8 other member organizations as part of Small Business Roundtable sent a letter requesting additional clarity on the Paycheck Protection Program. We have received numerous questions from NAWBO members and are still searching for clarity ourselves. We will be in touch as soon as we receive any information. 

 

Updated March 31, 2020 8:08 PM

Treasury Released Paycheck Protection Program (PPP) Application and Application Dates

Apply as quickly as you can because there is a funding cap!

Small businesses and sole proprietorships can apply on April 3, 2020.

Independent contractors and self-employed individuals can apply on April 10, 2020.

To see a sample application for you to prepare for April 3rd or April 10th depending on your business, click on this Paycheck Protection Program (PPP) Sample Application Form.

Here is a basic breakdown of the program by Treasury. Click here to find more information for borrowers.

NAWBO Hosts Webinar on the CARES Act

For a recording, click here. Please note if you were not registered for the webinar you will need to register to gain access.

Other Resource Pages released by the White House

For more information on the CARES Act, go to the CARES Act page, hosted on Treasury’s website. For more information on the Economic Impact Payments, click here.

 

Updated March 30, 2020 8:45 PM

As the Senate is out on recess as well as the House, our daily updates may become a little less frequent for the next few weeks. As of right now, the U.S. Senate and House are due back April 20th. We will keep you posted if that date changes as we know there is much more work to be done on behalf of our nation’s small businesses.

Understanding the CARES Act

If you would like more information on the CARES Act, Katie and I will be holding a webinar tomorrow at 12 PM ET. We hope you are able to join us. We will be going through the small business provisions of the bill with the understanding that the regulations are being written over the next two weeks, so there are more details to come. Click here to register for the webinar.

Updated March 27, 2020  4:54 PM

Homework

Click here to find the Small Business Owner’s Guide to the CARES Act. READ IT! Find out how the government can help you get through this difficult time. See what works for your business. Tell us what you think does not. We know there is more legislation to come. We need to know how the current solutions are working, so we can fix them in the process. Email epatout@nawbo.org to give NAWBO your feedback.

Stories

We want to hear what you’re going through, so we can help. Please share your struggles so we can share them with Congress. Email epatout@nawbo.org to give NAWBO your feedback.

SBA/Hill/Small Business Roundtable Webinar

On March 27th, NAWBO CEO Jen Earle represented women business owners on a call with other leading small business organizations, SBA’s Office of Capital Access, and U.S. Senate Small Business and Entrepreneurship staff. Here's a link to the recording.

CARES Act Passes House

House Democratic leaders were able to move the package by voice vote despite Rep. Thomas Massie (R-KY) wish for a recorded tally.

For a NAWBO Summary of the small business provisions, click here. To see the small business portions explained by the Senate Small Business Committee click here. To see a section by section of the bill click here.

Updated March 26, 2020 7:50 PM

REMINDER **SBA Administrator Conference Call RE: COVID-19’s Economic Impacts and SBA’s Relief Efforts Rescheduled

SBA Administrator Jovita Carranza will join the Small Business Roundtable and CEOs of the leading small business organizations (including NAWBO CEO Jen Earle) for a discussion on the needs of America’s entrepreneurs and small business owners during the economic fallout resulting from the COVID-19 outbreak.  

WHEN: FRIDAY, MARCH 27 at 2:00PM ET
HOW:  Register here
https://register.gotowebinar.com/register/2828954763587844877

If you are unable to attend, please reach out to team@smallbusinessroundtable.org for a recording.

Updated March 26, 2020 8:28 AM

CARES Act Passes Unanimously

Late last night the U.S. Senate passed the CARES Act unanimously. This approximately $2.2 trillion stimulus package is expected to be voted on by the U.S. House on Friday. The House Leadership hopes to pass it by consent or voice vote. This would NOT require all the Members to come back to D.C. However, it seems some members from both sides of the aisle will be making the trip.

We will share more details of small business provisions later today.

Updated March 25, 2020 8:35 PM

$2T Senate Bill Hits Another Last Minute Snag

Well, the Senate hoped they would be voting on legislation this afternoon, but Senators Lindsey Graham (R-S.C.), Tim Scott (R-S.C.), Ben Sasse (R-Neb.) and Rick Scott (R-Fla.) were against speedy considerations because they believe it could encourage employees to be laid off instead of working. Basically, there is a concern that the unemployment insurance program would allow workers to paid more on unemployment than what they were making while employed. While these Members may have slowed the process, the Senate is still expected to vote on this package late tonight or early tomorrow morning.

It Hasn’t Passed Yet, But What’s in the Latest Stimulus for Small Business

Unfortunately, 501(c)(6) organizations were not included in this round of the stimulus, but we will continue the fight because we know there is more relief to come.

Here are some NAWBO wins we can see after reviewing the latest text:

  • NAWBO members who are sole proprietors, independent contractions, and self-employed were included in relief measures.
  • Paycheck Protection Program will provide 8 weeks of cashflow assistance through a federally guaranteed loan program which was expanded to begin on February 15th instead of the initially drafted March 1st date.
  • Borrowers will be eligible for loan forgiveness. (More details and caveats when the bill becomes law. Don’t want to put the cart before the horse.)
  • Creates emergency grants to allow an eligible entity who has applied for an EIDL loan due to COVID-19 to request an advance on that loan.

If the Senate gets the votes and the House passes it, we will give a detailed breakdown that illustrates what this bill means to you.

Updated March 24, 2020 7:30 PM

Senate Says Vote Coming Wednesday…But, We’ll See

Senators say they will be working into the night on the next coronavirus stimulus package. Food stamps and assistance for airlines are the sticking points in the negotiations. Senate Minority Leader Schumer says he’s at the “two-yard line” with Treasury Secretary Steven Mnuchin according to The Hill, but GOP Senators and the Administration say they’re still working on the draft.

NAWBO National and 50+ Chapters Urge Congress to Include Organizational Non-Profits

NAWBO and 50+ Chapter Presidents sent a press release to media outlets and the Hill discussing the need to include organizational non-profits in current legislative proposals. Please use your voice and send your concern to Washington.

Do Your Part and Advocate to Keep NAWBO Chapters Strong

Here is a template for Chapter Leaders. Here is a template for members. You can contact your senators here and your representatives can be found here. I would recommend then clicking on the contact section of your U.S. Representative’s page to fill out the form for an email. Snail mail letters will take too long.

Coalition of Business Organizations Sends Letter to Congressional Leadership on SBA 7(a) Loan Enhancement

As Congress considers the next stimulus package, NAWBO signed on to a letter sent to Majority Leader McConnell, Minority Leader Schumer, Speaker Pelosi, and Republican Leader McCarthy which recommends boosting the already existing SBA 7(a) loan program alongside other legislative efforts to increase loans to small business. 

Hashtags

NAWBO is the unified voice of over 10 million women-owned business in the US. During this time of crisis, we want to remain ONE voice together. Please use the hashtag #NAWBOVoice when you are talking about our Advocacy outreach on social media.

Advocacy Timeline Update

NAWBO continues to be your voice in the nation’s capital. Here is a timeline of outreach from the last couple weeks. This link will continue to be updated. #NAWBO #NAWBONation #NAWBOVoice

Updated March 23, 2020 8:45 PM

SBA Administrator Conference Call RE: COVID-19’s Economic Impacts and SBA’s Relief Efforts Rescheduled

SBA Administrator Jovita Carranza will join the Small Business Roundtable and CEOs of the leading small business organizations for a discussion on the needs of America’s entrepreneurs and small business owners during the economic fallout resulting from the COVID-19 outbreak.  

Administrator Carranza and officials from the SBA’s Office of Disaster Assistance will discuss the economic relief efforts underway and resources available to small business owners. Join us for this important discussion.

WHEN: FRIDAY, MARCH 27 at 2:00PM ET

HOW:  Register here

https://register.gotowebinar.com/register/2828954763587844877

Updated March 23, 2020 7:45 PM

The U.S. Senate continues to squabble and fails to move forward on the CARES Act. (Details in last night's post.)

Speaker Pelosi previews her Take Responsibility for Workers and Families Act saying “It gives our small businesses fast relief with grants and loans to tide them through this crisis.  And it strengthens Unemployment Insurance so that it can replace the average wages of our workers who are losing their jobs and hours.” The House is in recess, so Speaker Pelosi would have to call back lawmakers unless the Senate package passes by unanimous consent. Today, all signs are showing that the House will be coming back in session.

NAWBO continues to be your voice in the nation’s capital. Here is a timeline of outreach from the last couple weeks.

March 23, 2020

NAWBO sends letter to U.S. Senate and House Leadership Urging them to act NOW.

March 22, 2020

NAWBO responds to Hill’s request for comment regarding the dates for loan coverage. We recommended expanding the dates, and this was incorporated in the most recent CARES Act.

March 21, 2020

NAWBO signs on to a letter sent to U.S. Senate Small Business and Entrepreneurship Committee discussing small business contracting community concerns.

March 20, 2020

NAWBO, as well as numerous other small businesses, join a call with the President and other members of the Trump Administration.

NAWBO represents WOBs on a call with Department of Labor to discuss the impact of The Families First Coronavirus Response Act. NAWBO listened and made sure all our questions were asked and had a few additions of our own. Our hope is that DOL answers these questions in the regulations and guidance.

March 19, 2020

NAWBO represents women business owners on a call with Maryland Senators Ben Cardin, Ranking Member of the Senate Small Business Committee, and Chris Van Hollen to receive an update on what Congress and the Small Business Administration (SBA) are doing to help Maryland small businesses respond to and recover from COVID-19 as well as provide feedback on how this outbreak is affecting businesses the community.

March 18, 2020

NAWBO signs on to a letter sent to Majority Leader McConnell, Minority Leader Schumer, Speaker Pelosi, and Republican Leader McCarthy detailing recommendations submitted by organizations on behalf of the 30 million small businesses. Click here to see text of the letter.

March 17, 2020

NAWBO joins a conference call titled, “Small Business Strategy Session on COVID-19.” The call brought together small business groups, businesses, and organizations that support the small business ecosystem. We discussed issues and priority needs along with the relief activities currently underway to support small businesses and brainstormed ways to facilitate constructive engagement.

March 16, 2020

NAWBO sends memo to U.S. Senate Committee on Small Business and Entrepreneurship, U.S. House of Representatives Small Business Committee, and SBA regarding current COVID-19 impact on women business owners. We shared comments directly from NAWBO members including testimonials and policy recommendations such as moving Tax Day, 0.0% interest loans, delayed mortgage payments, among others.

March 11, 2020

NAWBO CEO Jen Earle sits down with SBA Administrator Jovita Carranza and other members of the Small Business Roundtable. She voiced your concerns regarding how coronavirus is impacting small business.

NAWBO will continue to do its best to track legislation as this crisis continues. Click here for updates. But, as always, to be your best voice, we must hear from you. Please email epatout@nawbo.org with any other comments you want to share with the Hill or the Administration.

Updated March 22, 2020 7:34 PM

Third Coronavirus Bill Fails in Senate

Even after a three hour delay to talk through some more concerns, a 47-47 vote left the Senate 13 votes short of moving forward. The “aye” votes were especially low because five Republicans  are quarantined over coronavirus fears.

The bill includes:

  • $500 billion in loans and loan guarantees to businesses, states, and cities,
  • $350 billion for small businesses that is meant to help prevent more layoffs (this section has broad bipartisan support),
    • This portion includes expanding loan coverage to pay for employee salaries from February 15 to June 30, 2020. (This is win as NAWBO recommended that the March 1st date was too late.)
  • Sending $1,200 checks to many Americans,
  • Bolstering the unemployment insurance system, and
  • Disbursing a broad range of emergency funds to help reinforce hospitals and other areas.

Meanwhile, House Speaker Nancy Pelosi suggested that House Democrats will do their own bill. This would put the House and Senate on different tracks that could delay a final agreement.

Senator Rand Paul Tests Positive for Coronavirus

Senator Rand Paul (R-KY) tested positive this morning for covid-19. Later, Sens. Mike Lee and Mitt Romney announced they would be self-quarantining after having contact with Senator Paul.

Updated March 20, 2020 7:05 PM

Next Vote

Senate Majority Leader has set up the first vote on the next stimulus package over coronavirus for Sunday. The negotiations are focused on four groups: health care, small business, tax and impacted industries like airlines. The bill is expected to cost approximately $1 trillion, though GOP senators didn’t rule out that the number could climb as they negotiate with Democrats.

POTUS Call with Small Business

For those of you who were unable to attend the conference call  with the President this afternoon or RSVP’d after the limit, here is a summary for the remarks. They did not provide a time for questions. Please excuse the brevity as Elle was trying to keep up with the remarks.

President Trump remarks:

  • 10,000 small businesses on the call.
  • Meetings on the Hill are going well.
  • Working with Congress to get money directly to small business.
  • $300 billion directly to our country’s small businesses.
  • Dramatic and immediate expansion of loans, loans will be forgiven.
  • Working with bipartisan members of Congress to work on way to help small business.
  • Emergency declaration in 30 states. Anticipated more declarations and disaster relief to all 50 states and territories.
  • $18 B more dollars for loans.
  • Encouraging payment deferrals of up to 6 months with the banks.
  • Moved tax day to July 15 and encourage people to file for refunds immediately.
  • The American workers paid sick leave will be fully reimbursed with a dollar for dollar tax credit.
  • 50 employees or less will be exempt if it jeopardizes the business.

SBA Administrator Carranza remarks:

  • Thank you President for leadership.
  • SBA Staff is fully telework enabled and in full working order.
  • We’ve cut red tape for Economic Injury Disaster (EIDL) loans up to $2 M dollars.
  • 45 states and Puerto Rico – anticipate all 50 states by Monday will have access to EIDL.
  • EIDL payments are deferred for a year, 6 months for 7(a) loans.
  • SBA is providing flexibility and training for contractors.
  • SBA website had more than 2 M hits per hour and we are expanding are capacity online (working with Microsoft)
  • Continuing to try to find more ways to cut red to get capital into the hands of small businesses.

Labor Secretary Scalia remarks:

  • Small businesses are 50% of the private sector employment.
  • We are removing unnecessary regulatory burden on SB in the Labor Department.
  • Joint employment rule –minimum wage and overtime—easier for small businesses to enter franchising and other contracting relationships.
  • We have been working on guidance to all states about flexibility in their unemployment insurance programs.
  • Wage and Hour Division and FMLA more guidance to come.
  • Prioritizing customer service. Call 1-866-487-9243 (private line) for assistance.
  • Access quickly to paid leave, dollar for dollar reimbursement through tax credit.
  • We will be promptly giving exemptions.
  • Seeking public input and guidance with legislation, 2 hour town hall today (see recap below).

White House Top Economic Advisor Kudlow remarks:

  • We are rolling back regulations.
  • We’re always working to decrease taxes,
  • We have better trade deals, so export will be great after this crisis.
  • We want to help the workforce and employees with unemployment insurance and checks for people.
  • We are working to try to defer payroll taxes, income taxes, and corporate taxes.
  • Guaranteed loans to small business to get through next 7 weeks.
  • Expensing for equipment, improving buildings, net operating losses.

Department of Labor Call

This morning, Friday March 20th, DOL held a conference call at 10 AM ET on The Families First Coronavirus Response Act (FFCRA). NAWBO was represented on the call by Elle Patout. DOL read through the legislation and then took questions. None of the questions were responded to during the call. However, DOL will be taking them into consideration as they write the guidance and regulations for the law. Numerous questions were asked, but some of the highlights include:

  • What is the definition of jeopardizing the viability of the business?
  • The condition for employers with under 25 employees appears to require that you make “reasonable efforts” to reinstate the employee to a similar position – what are “reasonable efforts”? What if all similar positions have been eliminated other than one – and that position is filled.  Is that a condition? Or must an employer keep a position available?
  • The two-week paid sick leave provision - Does this run concurrently with the 12-week FMLA? Or consecutive?

Our hope is that DOL answers these questions in the regulations and guidance.

SBA Call Cancelled

We will be in touch ASAP when the call with SBA Administrator will be rescheduled. We hope to have it rescheduled in the next 3-5 days.

Other Democrat Plans

  • Schumer, Murray, Brown, Warren

Beyond the Senate Small Business Committee Democrats’ plan to help during this crisis, Senators Chuck Schumer (D-NY), Patty Murray (D-WA), Sherrod Brown (D-OH), and Elizabeth Warren (D-MA). The Senators’ proposal requires that Congress authorize the U.S. Department of Education to make monthly student loan payments on behalf of borrowers, equivalent to the amount due for all federal student loan borrowers (including Direct Loans and Federal Family Education Loans (FFEL)) for the duration of the national emergency declarations. The Senators’ proposal guarantees a minimum $10K loan payoff for all federal student loan borrowers. The summary can be found here.

  • House Dems

In addition, House Democrats introduced H.R. 6312, the COVID-19 RELIEF for Small Businesses Act of 2020. There are some similarities between the House and Senate Democrat Small Business plans. The House plan includes items such as:

  • Create a new grant to award up to $100,000 to small businesses that can demonstrate losses due to the outbreak.
  • Create the Small Business Relief Guaranteed Loan Program which would:
    • provide small business owners capital to pay off or refinance existing debt, provide employee benefits, pay employee wages and related taxes, and acquire technological and other resources that enable continuity of operation;
    • support $100 billion worth of 100 percent guaranteed, zero interest, zero fee loans of up to $2.5 million each with 10-year terms and repayment deferred for the first year;
    • inject money into the economy quickly by mandating that 20 percent of the proceeds be disbursed within 5 calendar days after approval; and
    • forgive up to 50% of the loan after December 31, 2021 if the borrower has retained the same number of employees as when they received the loan.
  • Cardin, Wyden Bill                                                                                                     

The Save America’s Main Street Act would provide immediate cash flow through a tax rebate:

  • Qualifying small businesses with $1 million or less in gross receipts and 50 or less employees will receive a check equal to 30% of the gross receipts reported in a previous year, up to $75,000.
  • Delay estimated tax payments for small business owners until September. One page summary found here.
  • ​​Brown Bill

Also, this week, Senator Sherrod Brown ranking member of the U.S. Senate Committee on Bank, House, and Urban Affairs introduced new legislation that would among many things halt foreclosures.

NAWBO will continue to do its best to track legislation as this crisis continues. But, as always, to be your best voice, we must hear from you. Please email epatout@nawbo.org with any other comments you want to share with the Hill or the Administration.

Updated March 20th 12:06 PM

Call with SBA Administrator POSTPONED. We will report back when the call is rescheduled. 

Updated March 19th 10:16 PM

The Senate did not have any votes today.

McConnell Introduced the Third Coronavirus Package

Leader McConnell announced that Senate Republican have an agreement re: the third coronavirus package. The Coronavirus Aid Relief and Economic Security (CARES) Act includes:

  • Increasing the SBA 7 (a) loan amount to $10 million and expands the use of the 7 (a) program to include payroll, such as paid sick or medical leave, employee salaries, mortgage payments, and any other debt obligations. Moreover, it gives lenders the ability to make determinations on borrower eligibility and creditworthiness without the normal SBA hoops with the 7 (a) program. In addition, the lenders will determine whether a business was operational on March 1, 2020 and had employees for whom it paid salaries and payroll taxes.  Side note—you would not be able to receive a 7 (a) loan and an SBA economic injury disaster loan for the same purpose, i.e. payroll.
  • Provides loan forgiveness in an amount equal to payroll costs and costs related to debt obligations for March 1, 2020 through June 30, 2020. The loan amount eligible for forgiveness will be reduced proportionally to the number of employees laid off during this period relative to the borrower’s prior employment levels.
  • Extends the April 15th filing date to July 15th, giving individuals more time to file their tax returns.
  • Waives 10% early withdrawal penalty for distributions up to $100,000 from qualified retirement accounts for coronavirus-relate purposes.
  • Allows employers and self-employed individuals to defer payment of the employer share of the Social Security tax they otherwise are responsible for paying to the federal government with respect to their employees. 

Senate Small Business Committee Democrats COVID-19 RELIEF for Small Businesses Act of 2020

Senate Small Business Committee Democrats pushed out their plan for small businesses today. Here are some of the highlights:

  • A new grant program to award up to $50,000 to small businesses with between 2 and 50 employees that are denied Economic Injury Disaster Loans(EIDL). (This is modeled after the process for businesses and homeowners after a natural disaster. They go to FEMA for grants after they are denied a loan through the SBA.)
  • Immediate relief to small businesses with SBA-backed loans by providing relief from SBA loan payments, including principal, interest, and fees for six months.
  • Allow small businesses already approved for an EIDL to borrow an additional 20 percent beyond what they have been approved for to pay for business continuity and resilience improvements, including establishing telework capability and implementing off site record keeping, among other measures.
  • A temporary direct loan program, the Business Stabilization Direct Loan Program provide capital, supporting $100 B worth of zero interest, zero fee loans of up to $2.5 million with repayment deferred for the first year and they would forgive up to 50% of the loan after December 31, 2021 if the borrower has retained the same number of employees as when they received the loan.
  • Help for federal contractors such as extending contract performance time by 30 days to small businesses affected by COVID-19 and require the Federal government to pay small business contractors and revise the delivery schedules, holding small contractors harmless for being unable to perform under a contract.

I will continue to keep you posted on developments and let you know about what ends up being in the final package for Coronavirus Bill #3.

POTUS Conference Call with Small Business

Participate in a conference call with the President, tomorrow, March 20, 2020 at 3:45 PM EST. Please register via the link below. Call in information will be received upon registration.

RSVP LINK: https://ems9.intellor.com?do=register&t=1&p=901338

*Please note this call is intended for Small Businesses. Due to capacity restrictions, please limit registration to 1 line per small business.

Friendly Reminder:

Want to hear more from the SBA on Coronavirus?
Administrator Carranza and the Office of Disaster Assistance will be on a call to discuss their response and available resources. The call will be at 2:30 PM ET on Friday, March 20th.

Interested in joining? Register here: https://register.gotowebinar.com/register/637285041691413261

Can’t join, but have comments? Please email epatout@nawbo.org.

Updated March 18th 9:15 PM

Small Business Roundtable Sends Letter to Congressional Leadership on Coronavirus Response

As Congress considers a stimulus package, NAWBO signed on to a letter sent to Majority Leader McConnell, Minority Leader Schumer, Speaker Pelosi, and Republican Leader McCarthy detailing recommendations submitted by organizations on behalf of the 30 million small businesses. Click here to see text of the letter.

POTUS Signs H.R. 6201

This evening POTUS signed H.R. 6201, Families First Coronavirus Response Act. The deal negotiated by Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi.

Senate passed H.R. 6201 in a 90-8 vote. Eight Republicans voted against the bill: Sens. Marsha Blackburn (Tenn.), James Inhofe (Okla.), Ron Johnson (Wis.), James Lankford (Okla.), Mike Lee (Utah), Paul, Sasse and Tim Scott (S.C.). Senator Tim Scott explained in no vote when he said, “The COVID-19 package passed by the U.S. Senate today, while well-intentioned, could have disastrous effects for South Carolina’s small businesses and their employees.”

The Joint Committee on Taxation estimates this second package will cost $104 billion. The bill requires companies with fewer than 500 employees give workers 12 weeks of paid family and sick leave to deal with virus-related issues, including staying home to care for children whose schools are closed. The paid leave per employee has a cap of $200/ day and $10,000 in total.

Next Steps
Next, Senate Republicans will start negotiating with the Administration on a third coronavirus package, according to Majority Leader McConnell. Leader McConnell has put together four task forces to draft and negotiate the package: health, tax, small business, and industry bailout.

Minority Leader Schumer said he has spoken to Secretary Mnuchin about his $750 billion proposal.

Want to hear more from the SBA on Coronavirus?
Administrator Carranza and the Office of Disaster Assistance will be on a call to discuss their response and available resources. The call will be at 2:30 PM ET on Friday, March 20th.

Interested in joining? Register here: https://register.gotowebinar.com/register/637285041691413261

Can’t join, but have comments? Please email epatout@nawbo.org.

As always, please email epatout@nawbo.org with any other comments you want to share with the Hill or the Administration.

Updated March 17th 9:52 PM

Coronavirus Legislation Timeline

1.First Action: Respond to the Virus

On Friday, March 6th, POTUS signed the Coronavirus Preparedness and Response Supplemental Appropriations Act 2020. This bill provided $8.3 billion in emergency funding for federal agencies to respond to the coronavirus outbreak. These programs funded by the bill addressed issues such as developing vaccines, loans for small businesses and grants for state, local, and tribal public health agencies.

2.Second Action: Combat the Effects of the Virus

On Saturday, March 14th, the U.S. House passed H.R. 6201. This bill response to the coronavirus outbreak by providing paid sick leave, coronavirus testing, expanding food assistance and unemployment benefits, and requiring employers to provide additional protections for health care workers. However, the measure was brought back to the House Monday, March 16th to work out some technical changes, which included that paid family and medical leave would now only be available to parents who need to care for children whose schools or care facilities are closed due to the coronavirus.

While members claim these were technical changes, in reality it seems that effective lobbying on behalf of small businesses was the real reason for these changes (the technical changes were 87 pages).

This bill is sitting with the Senate. Since it has not passed by unanimous consent, we expect that the Senate will make changes to the legislation, so then, it will have to go back to the House for a vote. However, the situation is very fluid. This afternoon, Leader McConnell said he expects that the Senate will pass the House’s second version which includes the technical changes.

3.Third Action: Additional Resources To Be Determined

Some lawmakers want a third economic package. Senate Minority Leader Charles Schumer (D-N.Y.) is set to unveil a plan with at least $750 billion to fight the coronavirus and its economic impact.

The Trump Administration is seeking roughly $850 billion in economic stimulus and is leaning toward a plan that would send checks to American in the coming weeks.

Sen. Mitt Romney (R-Utah) proposed sending every American adult a $1,000 grant, akin to checks issued during the 2001 and 2008 recessions.

Sen. Tom Cotton (R-Ark.), a staunch fiscal conservative, is rallying support for expanded unemployment and food aid benefits among Republican colleagues.

 

Next Steps

Click here to find a template letter you can send to your governor regarding the small business concerns with the coronavirus pandemic.

Please email epatout@nawbo.org with any other comments you want to share with the Hill or the Administration.

 

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