U.S. Deficit Will Triple in 2020 to $3.3 Trillion

For the first time since World War II, the U.S. government’s debt will roughly equal the nation’s gross domestic product by the end of this year, according to the Congressional Budget Office. Contributing greatly to CBO’s projections is the government’s annual budget deficit, which will triple this year from 2019 to $3.3 trillion. The deficit… Read more »

ASAE Crafts Latest Sign-On Letter Requesting 501(c)(6) Aid

ASAE has prepared another sign-on letter calling on Congress to expand access to the Paycheck Protection Program (PPP) to include 501(c)(6) nonprofit associations. Congress is set to return from summer recess next week, and negotiations are expected to resume on the specific provisions that will be included in a new COVID-19 relief package. Sticking points… Read more »

Republicans Offer Skinny Virus Relief Bill

Senate Republicans floated another skinny COVID-19 relief package this week that is unlikely to coax House Democrats back to the negotiating table. The draft legislation is similar to the $1 trillion HEALS Act that Republicans introduced at the end of July as a counter-offer to the $3.5 trillion HEROES Act that the House passed months… Read more »

Postal Service Bill Could Spark COVID Negotiations

The House will vote Saturday on legislation to provide $25 billion to address funding shortfalls and block cost-cutting changes at the U.S. Postal Service (USPS) that Democrats worry could impede mail-in voting in the November elections. While House Speaker Nancy Pelosi (D-CA) has resisted calls to pass pieces of COVID-19 relief legislation separately, some lawmakers… Read more »