May 28, 2020
Pandemic Risk Insurance Act of 2020
Yesterday, Congresswoman Carolyn B. Maloney (D-NY) introduced the Pandemic Risk Insurance Act of 2020 (H.R. 7011), which would establish a system of shared public and private compensation for business interruption losses and event cancellations resulting from future pandemics or public health emergencies. ASAE has called for such a proposal since its March 19 appeal to Congress and played a major role to ensure that H.R. 7011 would support associations – particularly through coverage for event cancellations. If enacted, associations and others would have access to this insurance beginning on January 1, 2021.
“The Pandemic Risk Insurance Act offers a critical solution for associations and others devastated by event cancellations, slashed reserves and sharp membership declines amid COVID-19,” said Susan Robertson, CAE; American Society of Association Executives President and CEO. “ASAE thanks and applauds Congresswoman Maloney for introducing this important bill, which will no doubt help provide America’s 62,000 associations the security they need to fully reignite our community’s far-reaching economic impact through industry-focused conferences, workforce development and educational programming, among other critical services.”
We will prepare a call to action for our members in the near future, but if you would like to support this bill in the meantime, please contact ASAE public policy staff.
Paycheck Protection Flexibility Act
The House voted 417-1 today to pass legislation that will make urgently needed changes to the Paycheck Protection Program (PPP), created to assist small businesses struggling during the ongoing COVID-19 pandemic.
As previously reported, Senators Marco Rubio (R-FL) and Benjamin Cardin (D-MD), Chairman and Ranking Member of the Senate Small Business Committee, respectively, introduced their own PPP reform bill last week (S. 3833) that would give businesses up to 16 weeks to use the loans instead of eight weeks, among other changes. Like Paycheck Protection Flexibility Act, S. 3833 does not expand the PPP eligibility to include all 501(c) associations.
The Senate has indicated that it will vote next week to vote on S. 3833. Following that, a compromise bill will have to be negotiated between the House and Senate before a final vote. ASAE has been advocating to expand association access to the PPP in the Senate legislation or in a negotiated larger COVID-19 relief package. We will continue to push for this expansion in the coming days with our champions in both chambers of Congress.