Interim Coronavirus Bill Enacted; Other Package Under Development

On April 24, President Trump signed the Paycheck Protection Program and Health Care Enhancement Act. The bill includes $310 billion for the Small Business Administration’s Paycheck Protection Program, $50 billion for disaster loans, $75 billion for hospitals, and $25 billion for testing. Meanwhile, Congressional leaders continue work on another package that could be voted on some time in May. The Arc’s priorities for that measure include:

  • Grants to support access to home and community-based services (to minimize the risk of people with disabilities being forced into institutions) and to support the direct support professional (DSP) workforce
  • Personal Protective Equipment for DSPs
  • Paid leave and sick days for family caregivers of adults with disabilities
  • Economic impact payments for all people with disabilities, including adult dependents

Interim Coronavirus Bill Could Advance This Week; Other Package Under Development

The House and Senate could vote this week on a new coronavirus aid package that is being negotiated by the White House and Congressional negotiators. Initial reports of the deal include $300 billion for the Small Business Administration’s Paycheck Protection Program, $50 billion for the Economic Injury Disaster Loan program, $75 billion for hospitals, and $25 billion for testing. Meanwhile, Congressional leaders continue work on another package that could be voted on in early May. The Arc’s priorities for that measure include:

•        Grants to support access to home and community-based services (to minimize the risk of people with disabilities being forced into institutions) and to support the direct support professional (DSP) workforce

•        Personal Protective Equipment for DSPs

•        Paid leave and sick days for family caregivers of adults with disabilities

•       Economic impact payments for all people with disabilities, including adult dependents

Emergency Small Business Loans/Grants Rolled Out With Some Glitches

The Treasury Department posted the final application and the Small Business Administration posted the interim final rule for the Paycheck Protection Program (PPP) at the end of last week. Despite the official roll out of the program, some banks are still not yet accepting applications. The PPP is a new temporary product under the Small Business Administration’s (SBA 7[a]) Loan Program, which was created by the CARES Act. It provides up to $10 million for eligible nonprofits, such as those that serve persons with disabilities, to cover payroll, operations, health insurance premiums, facilities costs, and debt service. It is available to nonprofits with 500 or fewer employees (includes full time and part time). Employers that maintain employment between March 1 and June 30 or rehire employees by June 30 would be eligible to have their loans forgiven. Since this is a first-come, first-served process and there is a finite amount of funds ($350 billion) for this program, interested applicants are urged to check with their lenders as soon as possible.