COVID-19 Federal Updates: March 26
Updated: Jun 9, 2020
Everything you and your business need to know about federal coronavirus response efforts for March 26, 2020.
The U.S. Senate on Wednesday approved a roughly $2.2 trillion, 880-page stimulus package to send direct payments and jobless benefits to individuals as well as money to states and businesses devastated by the coronavirus pandemic. The legislation is the third federal stimulus response to COVID-19. The U.S. House of Representatives is said to meet and pass it at 9:00 a.m. Friday.
According to The White House, the legislation provides nearly $300 billion in direct cash payments for every American citizen earning less than $99,000 per year; up to $250 billion in expanded unemployment benefits, including for independent-contractors and self-employed workers; $350 billion in job retention loans for small businesses; and over $500 billion in support for the hardest hit industries, with a ban on corporate stock buybacks. You can read the bill language and section-by-section summaries here.
In other federal news, the U.S. Department of Transportation has reportedly made modifications related to obtaining or renewing commercial driver licenses (CDLs) and other licenses that are vital to the efficient movement of essential goods across the state and country, while ensuring that safety standards are still being followed. See here for the waiver issued.