By SEMA Washington, D.C., Staff
U.S. Congressional lawmakers are seeking to reach agreement on a $908 billion coronavirus stimulus plan crafted by a bipartisan group of U.S. Senators. Several issues remain unresolved such as whether to include a SEMA-supported temporary federal liability shield against COVID-related lawsuits and funding for state and local governments.
The bill would reopen the Paycheck Protection Program (PPP) to provide loans for businesses with 300 or fewer employees. The loans are forgiven if requirements are met, and amounts spent on business expenses would not be taxable. The bill could also make it easier for businesses to file loan forgiveness applications, especially for loans of $150,000 or less.
The bill would extend $300 weekly federal supplement unemployment insurance for four months and provide relief funds for child care, education, farmers, airlines, the U.S. Postal Service and vaccine development, among other provisions. The proposal does not currently include a second round of direct payments for individuals (adults and children).
Lawmakers will be seeking to reach agreement on the coronavirus relief package during the week of December 14.
For additional information, contact Stuart Gosswein at email@example.com.