With talks breaking down in the Senate earlier today on an interim COVID-19 relief measure, attention is shifting to the House where another large-scale economic stimulus package is taking shape.
This bill, which follows the $2.2 trillion CARES Act signed into law two weeks ago, will likely inject another $1 trillion or more into the faltering economy, Speaker Nancy Pelosi (D-CA) told Democrats on a call this week.
Pelosi said the next relief package will be focused on replenishing funds for programs established in the CARES Act, including the Paycheck Protection Program, which has seen a surge in demand from businesses seeking loans to survive the coronavirus pandemic. Pelosi said there will likely also be additional direct payments to individuals, extended unemployment insurance and more resources for food stamps in the bill. House Democrats are also looking for more aid for state and local governments in this next phase.
ASAE and thousands of other associations have urged Congress to include trade and professional associations in the Small Business Administration’s Paycheck Protection Program. The CARES Act restricts access to the PPP loans to small businesses and 501(c)(3) nonprofit groups with fewer than 500 employees. This fourth COVID-19 relief bill is viewed by ASAE and many others as the next best opportunity to include associations in the PPP.
Pelosi said the House will pass the next relief package this month. The House is not scheduled to be back in session until April 20 at the earliest and passing legislation by voice vote would require unanimous consent.