ASAE Urges SBA to Rethink Small Business Loan Questionnaires

ASAE joined a large coalition of business groups this week in calling on the Trump administration to temporarily suspend “loan necessity” questionnaires developed to scrutinize businesses that took emergency payroll loans during the pandemic. The Small Business Administration (SBA) has been circulating the new questionnaires to obtain information from businesses that took Paycheck Protection Program… Read more »

Biden Urges Congress to Pass Large COVID Stimulus Bill

President-Elect Joe Biden called on Congress this week to end the stalemate and pass a COVID-19 stimulus package on par with the $3.4 trillion HEROES Act that the House passed six months ago. Republicans have opposed the HEROES Act as too expensive and negotiations on a relief bill have gone nowhere since lawmakers returned to… Read more »

Hearing Highlights Hurdles for Pandemic Risk Insurance

Despite widespread backing from ASAE and the business community, legislation that would protect organizations from business interruption losses resulting from future pandemics or public health emergencies continues to garner little support from Republicans or the insurance industry. Opposition to the Pandemic Risk Insurance Act (PRIA), introduced earlier this year by Rep. Carolyn Maloney (D-NY) and… Read more »

Major Roadblocks Remain on COVID Stimulus Deal

Negotiations have resumed on a COVID-19 stimulus deal but lawmakers still can’t agree on a price tag, reducing optimism that Congress can pass a bill before the end of the year. Senate Majority Leader Mitch McConnell (R-KY) said Tuesday that Congress should agree to a “highly targeted” relief bill similar to the $500 billion legislation… Read more »

House Subcommittee Hearing on PRIA Set for Nov. 19

The House Financial Services Subcommittee on Housing, Community Development and Insurance will hold a hearing Nov. 19 to examine the Pandemic Risk Insurance Act (PRIA) and how to address the need for coverage during a pandemic. This hearing was originally scheduled for the summer and is a major step to building bipartisan support. ASAE endorsed… Read more »