April 30: Maximizing Forgiveness in the Payroll Protection Program
As a part of the federal response to the unprecedented economic disruptions caused by COVID-19, Congress approved and the Small Business Administration has launched The Paycheck Protection Program (PPP) and Economic Injury Disaster Loan Program to help businesses continue to operate in a time of depressed economic activity. The program was so popular that it quickly exhausted its initial appropriation of $350 billion. Congress is working to authorize more spending on the program so more business can take advantage of the funding. Click here for a webinar and Q&A on this topic, hosted by Ed Orlet, NAED’s Sr. VP of Government Affairs and featuring Jen Vacha, CPA and David Killion, CPA, CEPA of Brown Smith Wallace.
April 22: PPP Replenishment + Additional Health Care Stimulus
Yesterday, the Senate passed a $483.3 billion coronavirus relief package. While the main intent of the bill was to replenish the Small Business Administration’s Paycheck Protection Program (PPP), the legislation also includes additional funding for the medical sector (including hospitals) that are facing financial deficits, in response to COVID-19. The House is expected to vote on the measure today and the President should sign the bill sometime this week. The next round of stimulus is not expected to be taken up until early May. ASA will keep you apprised of any developments.
Paycheck Protection Increase Act of 2020
Small Business Programs
- $310B for the Paycheck Protection Program.
- $10B for additional EIDL Grants.
- Eligibility of Agricultural enterprises (fewer than 500 employees) for EIDL and Emergency Grants.
- Creates a set-aside for Insured Depository Institutions, Credit Unions and Community Financial Institutions for the PPP.
This section sets aside the following amounts for the Paycheck Protection Program to be made by the following institutions:
- $30B for loans made by Insured Depository Institutions and Credit Unions that have assets between $10B and $50B;
- $30B for loans made by Community Financial Institutions, Small Insured Depository Institutions, and Credit Unions with assets less than $10B.
Additional Emergency Appropriations for Coronavirus Response
Health and Human Services - $100B
- $75B for Public Health and Social Service Emergency Fund to prevent, prepare for and respond to coronavirus to eligible healthcare providers for related expenses or lost revenues attributed to coronavirus. This funding is in addition to the $100M provided in the CARES Act.
- $25B for the Public Health and Social Services Emergency Fund to research, develop, validate, manufacture, purchase, administer, and expand capacity for COVID-19 tests.
- $11B for States, localities, territories, tribes, tribal organizations, urban Indian health organizations, or health service providers for COVID-10 tests.
- $2B for States consistent with the Public Health Emergency Preparedness grant formula, ensuring every state receives funding.
- $4.25B for areas based on relative number of COVID-19 cases; - $750M for tribes, tribal organizations, and urban entities.
- $1B for the CDC Wide Activities Program Support for surveillance, epidemiology, laboratory capacity expansion, contact tracing, public health data surveillance and analytics infrastructure to expand and improve COVID-19 testing.
- $306M to the National Institutes of Health - National Cancer Institute to develop, validate, improve, implement serological testing.
- $500M to the National Institutes of Health - National Institute of Biomedical Imagining and Bioengineering to accelerate research, development and implementation of point of care and other rapid testing.
- $1B to the National Institutes of Health, Office of the Director for the development of testing technologies. -$1B to the Biomedical Advanced Research and Development Authority for testing and other activities.
- $22M for Food and Drug Administration - Salaries and Expenses.
- $825M for Community Health Centers and rural health clinics.
- Up to $1B to cover the costs of testing for the uninsured.
- $6M for the HHS Office of Inspector general for oversight activities.
- HHS Secretary must provide a report no later than 21 days on demographic characteristics and other relevant factors of individuals tested for or diagnosed with COVID-19 (number and rates of cases, hospitalizations and deaths).
- No later than 180 days after the enactment of the Act, HHS Secretary shall issue a report on the number of positive cases by the demographic subsets described above.
Small Business Administration (SBA)
- $2.1B for the SBA Salaries and Expenses account to remain available until September 30, 2021.
- Additional $50B for the Disaster Loans Program Account to remain available until expended.
- Additional $10B for Emergency EIDL Grants to remain available until expended.
April 21: ASA COVID-19 Town Hall Interview - Inside the Federal Loan Programs Available to You
ASA’s Mike Miazga interviews Oklahoma-based attorney Al Givray about the various federal loan programs currently available to businesses. Givray has extensive involvement accessing grants and loans available through the CARES Act.
In addition to talking about the Paycheck Protection Program, Al focuses on:
1. U.S. Treasury loans
2. Federal Reserve’s Main Street Lending Program
3. Advice to distributors and manufacturers during the pandemic: Turn over every leaf, think around the corner and look for opportunities to emerge.
Listen to their discussion here.
April 15: ASA Washington Update - Paycheck Protection Program Funding
With the anticipation that the Paycheck Protection Program (PPP) will run out of money by the end of this week, ASA joined with its coalition partners to encourage bipartisan agreement on Congressional funding for the program, introduced as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act. ASA, along with 265 other associations (representing a broad cross section of the American economy), sent a letter to Speaker Pelosi, Senate Majority Leader McConnell, House Minority Leader McCarthy and Senate Minority Leader Schumer, asking them to take quick action on this crucial funding mechanism for small businesses.
April 13: OSHA Record Keeping Requirements During the COVID-19 Pandemic
OSHA has issued temporary enforcement guidance related to the COVID-19 pandemic for recording and reporting occupational injuries and illnesses required under 29 CFR Part 1904. For more information see the Enforcement Memoranda section of OSHA's COVID-19 Safety and Health Topics page.
April 3: How to Apply for a CARES Act Small Business Loan
Friday, April 3 is the day small businesses may begin applying for loans established under the CARES Act. In fact, there are numerous options available to businesses. Check out the Small Business Administration website here for all the details and how to apply.
April 3: Federal Motor Carrier Safety Administration Issues 3-Month Waiver
The Federal Motor Carrier Safety Administration has issued a three-month waiver in response to the COVID-19 crisis for states and CLP holders operating commercial motor vehicles. Full details can be found here.
April 2: New Paid Sick Leave and Expanded Family and Medical Leave Plans Announced
The U.S. Department of Labor announced new paid sick leave and expanded family and medical leave implementation. Read full details of the new rules that extend to Dec. 31, 2020.
April 1: Paycheck Protection Plan Application
Via the American Institute of Certified Public Accountants, the Department of Treasury has released the Paycheck Protection Program application, as well as a host of other supplemental information on the subject.
Access the Paycheck Protection Program application.
You can also access additional information on the plan.
April 1: Treasury Guidance for Small Business Administration Loans
The Department of Treasury also recently released this updated guidance regarding Small Business Administration loans. Learn more.
April 1: Small Business Administration Loan Resources
And the Small Business Administration has issued these various resources related to obtaining SBA loans.
To apply for federal disaster loans for businesses, private non-profits, homeowners and renters, visit the SBA site.
March 31: White House Updates Essential Critical Infrastructure Workforce List to Encompass Full Plumbing Supply Chain
Key language added to the definition of essential businesses gives a clear definition of the PHCP-PVF supply chain during this pandemic. Learn more.
March 31: Every Plumbing Company Should Consider the Paycheck Protection Program
Read this strong article about the ins and outs of the Paycheck Protection Program.
March 30: CARES Act Helpful Links: Small Business Loans, Paycheck Protection Program
Here are several good resources provided by National Association of Wholesaler-Distributors (NAW) related to the ins and outs of the CARES Act, specifically small business loan and grant programs for companies with less than 500 employees.
March 30: Homeland Security Updates Critical Infrastructure List
The Department of Homeland Security Cybersecurity & Infrastructure Agency has released an updated advisory list that identifies essential critical infrastructure workers during the COVID-19 pandemic that casts a clearer and wider net on our PHCP-PVF industry in terms of what qualifies as “essential.” See the complete list.
March 30: Federal Stimulus Calculator
The Washington Post developed this stimulus calculator related to the CARES Act. Legislation signed into law provides $1,200 payments with annual incomes up to $75,000, plus another $500 per child. Folks earning more than $75,000 may also receive money if they meet certain qualifications.
March 30: Families First Coronavirus Response Act: Employee Paid Leave Rights
The Department of Labor Wage and Hour Division produced this comprehensive webpage that details essentials of Families First Coronavirus Response Act: Employee Paid Leave Rights.
Learn more about the key details on the Families First Coronavirus Response Act: Employee Paid Leave Rights.
March 30: Family and Medical Leave Act
The Department of Labor Wage and Hour Division also produced this comprehensive webpage that details essentials of the Family and Medical Leave Act.
March 24: Department of Homeland Security Gives Advice for Work Truck Industry During COVID-19
DHS is encouraging work truck industry companies to conduct a thorough analysis of their business operations in the context of their local authority decisions using these DHS guidelines. Learn more.