Topics: CARES Act

NATSO Policy Update: President Signs Executive Orders as Stimulus Talks Hit Impasse

President Trump signed a memorandum directing the Treasury Department to defer payroll taxes from September 1 through the end of the year for those earning under $4,000 (pre-tax) during any bi-weekly pay period (or $96,000/year). Other executive actions, which come amid an impasse on agreeing to additional coronavirus relief between the Administration and congressional Democratic leaders, include allowing a $400 federal unemployment benefit add-on; providing assistance to renters and homeowners regarding evictions; and suspending student loan payments. More

NATSO UPDATE: COVID Relief Legislation

Negotiations on the next coronavirus response bill begin in earnest this week and pressures to act includes the expiration of expanded unemployment benefits July 31, the planned start of the congressional recess soon after, and economic and health care needs created by the coronavirus. More

House to Vote on Small Business Loans

The House is scheduled today to consider two bills related to coronavirus aid. H.R. 7010 from Rep. Dean Phillips (D-Minn.) and 35 bipartisan cosponsors would give businesses more time and flexibility to make qualifying expenditures for loan forgiveness under the Paycheck Protection Program, and allow businesses with forgiven loans to defer payroll taxes. More

NATSO Analysis: Paycheck Protection Program Interim Final Rules (PPP) Members Only Join or Login

The Small Business Administration on May 22 released interim final rules related to the Paycheck Protection Program. The rules outline procedures for borrowers to calculate costs eligible for loan forgiveness in the PPP, how the SBA will review individual loans for forgiveness, and details of the loan forgiveness process for lenders. More

House Passes $3 Trillion Coronavirus Spending Package Members Only Join or Login

The U.S. House of Representatives on May 15 approved a massive, $3 trillion coronavirus spending package that would, among other things, provide a second round of $1,200 stimulus checks, $200 billion in pay for essential workers and extend the federal $600-per-week unemployment benefits for six more months. More

Senate Passes Coronavirus Relief Bill, Expands Small Business Aid

The Senate on April 21 passed by voice vote the "Phase 3.5" Paycheck Protection Program and Health Care Enhancement Act. The $484 billion interim coronavirus relief measure would provide $310 billion for the Small Business Administration’s now-exhausted Paycheck Protection Program, $60 billion for disaster loans through the SBA's Economic Injury Disaster Loan (EIDL) program, and an additional $100 billion for health care provider relief ($75 billion) and coronavirus testing ($25 billion). More

NATSO Analysis: The Cares Act, Phase III Stimulus Package Members Only Join or Login

The Senate approved 96-0 the approximately $2 trillion "Phase III" stimulus bill known as the CARES Act. The House is expected to pass the bill by today after which the President is expected to sign the measure. This summary focuses on those issues of most concern to the travel center industry. More

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