COVID-19 Federal Updates: April 27
Updated: Jun 9, 2020
In case you missed it, the President signed into law additional funding to support those impacted by the coronavirus. You can read the bill language and summaries here.
This legislation provides $320 billion in additional funding for the Paycheck Protection Program (PPP); the SBA's E-Tran portal was scheduled for submitting loans to reopen on April 27 at 10:30 a.m.
The bill also appropriates $60 billion more for the Small Business Administration’s (SBA) Disaster Loan Program.
To aid in coronavirus response efforts, $75 billion in funding will be provided to hospitals and healthcare providers and $25 billion will support testing efforts.
Federal policymakers are discussing what a potential fourth coronavirus relief package might look like.
Lawmakers are discussing a potential fifth coronavirus relief bill, raising early questions about how quickly Congress will be able to reach an agreement on more aid.
Though the previous four bills have passed with overwhelming bipartisan support, Congressional leaders are very likely in disagreement over the timeline and details of the somewhat confusingly named “phase four” legislation, which would actually be the fifth bill to respond to the crisis.
Arguments are being made for and against state and local funding, infrastructure support, potential changes to the small business loan program that has received $660 billion, and a potential increase in Supplemental Nutrition Assistance Program benefits.
The Treasury Department and the Internal Revenue Service last week released state-by-state figures for Economic Impact Payments. As of April 17, Ohio has made 3,504,529 payments totaling $6,258,547,152.