COVID-19 Federal Updates: May 20, 2020
Updated: Jun 9, 2020
Total U.S. coronavirus deaths reported each morning this week: Monday, 89,564. Tuesday, 90,369. Wednesday, 91,938.
Closure of the U.S. Canadian border to non-essential travel, which is set to expire Thursday, will likely be renewed for another month to prevent the spread of the COVID-19 virus, media in Canada report.
The Centers for Medicare and Medicaid Services released recommendations for State and Local officials considering the reopening of nursing homes.
Cleveland.com: The President will reportedly nominate Justin Herdman, U.S. Attorney for the Northern District of Ohio in Cleveland, as the next prosecutor for the District of Columbia.
Crain’s Cleveland: The U.S. economy will recover from the coronavirus pandemic, but the process could stretch through until the end of next year and depend on the delivery of a vaccine, said Federal Reserve chairman Jerome Powell.
Federal Information for Businesses:
SBA: COVID-19 Resources
Treasury: Assistance for Small Businesses
The employee retention credit is designed to encourage businesses to keep employees on their payroll. The amount of the credit is 50% of qualified wages paid up to an annual limit of $10,000, which equals a maximum credit amount of $5,000 for each employee for the year.
Eligible employers are employers who operate a trade or business and has experienced one of these:
Fully or partially suspended operations because of a government order due to COVID-19
A significant decline in gross receipts in a calendar quarter when compared to 2019
As of May 19, here are the latest FAQs for the Paycheck Protection Program.
The latest Paycheck Protection Program Report, through May 16, 2020, can be found here.
The Small Business Administration (SBA) is providing coronavirus recovery materials in various languages here.
The SBA also released a new Interim Final Rule Monday creating a new safe harbor for applicants with foreign affiliates whose eligibility certifications were technically incorrect.