COVID-19 Washington Update: July 1, 2020
July 1, 2020
Below, please find a summary of today’s federal government activities in response to COVID-19. Please note we will not be publishing updates for the remainder of the week due to the July 4th holiday. Our next update will be published Monday, July 6.
 

Congress

Congress has approved legislation to extend the deadline to apply for Paycheck Protection Program (PPP) loans until August 8, 2020 (the application window closed at 11:49pm ET last night). The Senate cleared the measure by unanimous consent yesterday evening and the House followed suit late today. The bill now goes to President Trump for his signature.

With Congress set to adjourn for the July 4th holiday tomorrow, leaders are expecting negotiations on the next round of COVID relief legislation to pick up when lawmakers return to Washington on July 20.

Driving July action: The vast majority of state and local governments had to finalize their budgets by July 1 and many are facing steep budget cuts without additional federal support; the $600 per week enhanced unemployment insurance benefits expire July 31; and the moratorium on evictions included in the CARES Act expires July 24. Other factors include the desire to establish liability protections (a priority for Senate Republicans), as well as the potential need for funding / support for educational institutions working to safely re-open this fall. There is also interest – including from the White House – in another round of direct payments to families and individuals.

Today, Senate Democratic Leader Schumer (D-NY) and Senate Finance Committee Ranking Member Wyden (D-OR) introduced the American Workforce Rescue Act. The bill would extend the $600 increase in weekly UI benefits until a state’s three-month average total unemployment rate falls below 11%; the benefit amount then reduces by $100 for every percentage point decrease in the state’s unemployment rate, until the rate falls below 6%.

Note that COVID-related hearings in the House will continue during the upcoming two week recess. We’ll have a full rundown in Monday’s update.

Recent Congressional Statements / Letters
 
Other Stakeholder Statements / Letters
   

White House / Agency Activity

White House
 
Treasury Department
 
Internal Revenue Service
 
Department of Labor
 
Department of Health and Human Services
 
Food and Drug Administration
 
Customs and Border Protection
 
Department of Transportation
 
Federal Communications Commission
 
Federal Trade Commission
   

Federal Reserve

FDIC/Federal Reserve Joint Release: Agencies Provide Largest Firms with Information for Next Resolution Plans, July 1, 2020
 

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