COVID-19 Washington Update: March 19, 2020
Kelley Drye Client Advisory
March 19, 2020

Federal government updates for Thursday March 19, 2020

Congress

Hours after Senate passage of the Families First Coronavirus Response Act on Wednesday afternoon, President Trump signed the bill into law

Phase Three

With “phase two” enacted, Congressional attention is now on “phase three,” a massive economic stimulus package aimed at families and individuals, small businesses, and distressed industries; leaders are hoping for a vote on the package early next week
 
  • Senate Republicans have been working with the White House on the measure, and Majority Leader McConnell (R-KY) said he is beginning discussions with Democratic Leader Schumer (D-NY) this afternoon
    • For cash payments to individuals, Senate Republicans are considering payments of up to $1,200 per adult and $500 per child in the coming weeks – with a second tranche likely to follow
      • Likely income cap of $95,000 / year (individuals) and $190,000 (families) with details still being worked out
    • See $300 billion small business relief plan from Sens. Collins (R-ME) and Rubio (R-FL) here
    • As a reminder, see Senate Democratic Leader Schumer’s March 17 stimulus proposal here
  • Meanwhile, House Speaker Pelosi (D-CA) wrote to House Democrats on Wednesday ahead of a Thursday conference call to discuss phase three
    • See yesterday’s update for variety of stimulus proposals being discussed
    • House Financial Services Committee Chairwoman Waters (D-CA) published a set of policy proposals late yesterday

Phase Four?
 
  • Talk of a fourth phase has already begun, perhaps via the appropriations process  – potentially covering the administration’s approximately $48 billion request for government agencies as they work to address the pandemic; federal-aid infrastructure investments; and other priorities not covered in the pending third package

Logistics
 
  • In a Dear Colleague letter today, House Majority Leader Hoyer (D-MD) announced changes to the House schedule – specifically, the House will not return until they are in a position to vote on phase three and voting procedures will be adjusted to adhere to the CDC’s recommendations
  • Meanwhile, each chamber is at least considering the feasibility of remote voting, with several Members and staff testing positive and many more self-quarantining

Other Resources
 
  • National Association of Manufacturers (NAM) recommendations, including loans, tax provisions, and the adoption of a federal designation deeming manufacturers and their employees as “essential” to ensure the supply of critical products
  • Nonprofit community COVID-19 stimulus letter
  • Front-line medical providers letter on need for additional funding
  • International Franchise Association (IFA) letter with policy recommendations

President’s Public Schedule Today

11:00AM Members of the Coronavirus Task Force held a press briefing

2:00PM The President participated in a video teleconference with Governors on partnership to prepare, mitigate, and respond to COVID-19<
 
  • See memo from Governors Hogan (R-MD) and Cuomo (D-NY) regarding top state priorities

White House / Agency Activity

Department of Homeland Security / Customs and Border Protection
 
Department of State
 
Department of Health and Human Services
 
Food and Drug Administration
 
Department of Energy
 
Centers for Medicare and Medicaid Services
 
Federal Reserve

Federal Reserve Board broadens program of support for the flow of credit to households and businesses by establishing a Money Market Mutual Fund Liquidity Facility (MMLF), March 18, 2020