Maloney Introduces Pandemic Risk Insurance Act

ASAE endorsed a bill introduced on May 26 by Rep. Carolyn Maloney (D-NY) to create the Pandemic Risk Insurance Program, a system of shared public and private compensation for business interruption losses resulting from future pandemics or public health emergencies. The COVID-19 pandemic has caused severe financial strain on America’s associations resulting from cancelled meetings,… Read more »

Unemployment Rate Continues to Grow

The federal government released new jobless figures today showing an additional 2.4 million Americans sought unemployment aid in the last week. Due to the ongoing COVID-19 pandemic, more than 38 million Americans have filed unemployment claims over the past nine weeks. As part of the CARES Act enacted in March, Congress gave people filing for… Read more »

Trump, GOP Pushing Reopening Over Stimulus

President Trump and Republican leaders are banking on states lifting COVID-19 restrictions to propel economic recovery and ease pressure for another round of legislative stimulus. Since passing the CARES Act in March, congressional Republicans have wanted to pause on another coronavirus relief package to gauge the impact of existing relief measures. Senate Majority Leader Mitch… Read more »

Congress Moving Separate Bills to Change PPP Loans

Sen. Marco Rubio (R-FL), chairman of the Senate Small Business Committee, introduced legislation today to extend the Paycheck Protection Program (PPP). Rubio had been optimistic about the Senate taking the bill up today before a Memorial Day recess but the vote did not happen. Rubio said there is bipartisan support for extending the current eight-week… Read more »

ERTC Expansion Possible Area of COVID-19 Cooperation

Congressional Republicans expressed little support this week for House Democrats’ newly-drafted $3 trillion HEROES Act, but expanding the Employee Retention Tax Credit (ERTC) is a possible area of agreement for lawmakers in both parties. The new House bill, set for a Friday vote, includes language to add another $157 billion to the ERTC, which under… Read more »