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Pandemic Economic Stimulus: Legislative and Regulatory Developments as of May 21, 2021
May 21, 2021 – Over the last week, the Federal Reserve extended a rule modification allowing certain bank directors and shareholders to apply for Paycheck Protection Program loans, and the Small Business Association announced a May 24 deadline for applications to the Restaurant Revitalization Fund. Further, a bipartisan bill was introduced in the U.S. House of Representatives that would redirect up to $10 billion in federal contracts to small businesses.
Pandemic Economic Stimulus: Legislative and Regulatory Developments as of May 14, 2021
May 14, 2021 – Over the last two weeks, bills were introduced in Congress that propose to make certain non-profit child care providers eligible for Small Business Administration loans, raise caps on the value of government contracts sole-sourced to small businesses, and reallocate funds from federal stimulus programs to a range of infrastructure projects. There were no regulatory developments of note this week relating to the pandemic.