The coronavirus pandemic is a serious threat to our country.  We are fighting back to secure our healthcare system, protect America’s small businesses, and meet your family’s needs.  For your situational awareness, here is a basic summary of actions thus far at the Congressional level. Things are moving rapidly and are subject to change.  We can provide more detail on specifics if you need.  

SUMMARY OF FEDERAL RESPONSE TO CORONAVIRUS

The Plan: Protecting Health, Protecting Workers, Protecting Small Business

Protecting Health

A new law passed by Congress moves $8.3 billion dollars in resources to testing, treatment, and planning, including vaccine development.  Social distancing and basic hygiene are our best weapons to control spread.  Governors, state-by-state, will determine closure guidance and enforcement.  

Protecting Workers

A bill passed by the House and under consideration by the Senate right now proposes:
 

• Two weeks of paid sick leave to employees affected by coronavirus.  This includes persons under quarantine, caring for someone affected, or those with children whose school has closed.
• Affected employees are entitled to up to three months paid leave at two-thirds of employee’s pay.
• Businesses will receive a tax credit for these expenditures.  
• Additional flexibility will be given to businesses of less than 50 employees.
• Enhanced federal funding of unemployment compensation.
• Enhanced nutritional assistance for children, elderly, or those with food insecurity.

Protecting Small Business

• 50 billion in low-interest loans;
• Small business tax payment deferral for 90 days (filing deadline still intact).
• Tax credit for paid sick leave.
• Under further consideration: a very broad and big economic package of direct help to small businesses in dire circumstances, persons who need cash, as well as enhanced loan structures.

Please remember these provisions are subject to change.

I hope this update was helpful to you.  Please know you are welcome to contact me with questions or other ideas.  My staff and I are here for you during this critical time.