April 2, 2020: COVID-19 Legislative Update
COVID-19 - April 02, 2020
Policy Resolution Group COVID-19 Legislative Update
April 2, 2020
Today’s update is short and focused on the Paycheck Protection Program (PPP), the small business lending program established by the CARES Act. The PPP made its first loans today, and our briefing includes links to the relevant guidance for the program.
While our update today does not discuss the variety of Phase Four proposals, it is important to take note of House Speaker Nancy Pelosi’s (D-CA) recent comments. Backing off from her previous broad Phase Four proposals, today she argued, during two television appearances, that Congress’s next COVID-19 legislative effort should be a focused expansion of the CARES Act. Specifically, she said, “let’s do the same bill we just did, make some changes to make it current,” and “while I'm very much in favor of doing some things we need to do to meet the needs — clean water, more broadband, the rest of that — that may have to be for a bill beyond that right now.”