CARES Act Developments and Newly Proposed Fiscal Stimulus Legislation as of September 11, 2020

September 11, 2020 – This week Republican leaders proposed a “skinny” stimulus package, but it was voted down in the Senate. There were no regulatory developments of note.

Regulatory Developments Relating to the Pandemic

None.

Legislative Proposals

S. 178: Delivering Immediate Relief to America’s Families, Schools and Small Businesses Act

On September 8, 2020, Senate Majority Leader Mitch McConnell introduced a slimmed-down economic relief bill totaling approximately $500 billion. The bill would give states the option to provide $300/person weekly unemployment benefits through December 27, establish liability protections for businesses and schools against COVID-related personal injury claims, provide $258 billion for a second round of Paycheck Protection Program (PPP) loans, provide a $10 billion loan to the Postal Service, give $105 billion to schools through an Education Stabilization Fund, and give $10 billion to support child care services. The bill does not provide for a second stimulus check to taxpayers. However, the bill was defeated on a procedural vote on September 10.

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