COVID-19 Washington Update: May 21, 2020
Kelley Drye Client Advisory
May 21, 2020
Today’s federal government activities in response to COVID-19 includes:
 

Congress

As detailed in yesterday’s update, the House is expected to vote next week on targeted legislation to revamp the SBA’s Paycheck Protection Program (PPP).

This afternoon, the Senate attempted to pass a bipartisan PPP fix of its own, but was unable to get unanimous consent for passage. The Senate proposal would double the current 8-week “covered period” and would extend until December 31 the deadline to apply for a PPP loan. Unlike the House proposal, however, it would not eliminate the requirement that businesses spend at least 75% of the funds on payroll. With pro-forma sessions scheduled over the coming recess week, the Senate could still pass the bill, assuming unanimous consent can be reached.

At the same time, prospects for more comprehensive COVID legislation remain far from certain, with Republican leadership not yet on board with another massive relief bill – and adamantly opposed to the $3 trillion Heroes Act passed by the House last week. Providing liability protections to reopening businesses and other entities (e.g., colleges) remains a top priority for Republicans.

On Wednesday, by unanimous consent, the Senate passed bipartisan legislation to prevent SBA’s 7(a) loan guarantee program from shutting down – due to a CARES Act error – whenever the newly-created Paycheck Protection Program (PPP) runs out of funding.

Recent Congressional Statements / Letters
 
 Other Stakeholder Statements / Letters
   

White House / Agency Activity

White House
 
Department of the Treasury
 
Department of Health and Human Services
 
Food and Drug Administration
 
Federal Emergency Management Agency
 
Department of Defense
 
Federal Aviation Administration
 
Department of Agriculture
 
Federal Trade Commission
 
Consumer Financial Protection Bureau
 
Export-Import Bank
   

Federal Reserve

Opening remarks by Chair Powell at "Fed Listens: How Is COVID-19 Affecting Your Community?", May 21, 2020
 

Kelley Drye Resources

Employers' Return To Work Checklist - Practices and Policies
 

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