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will the cares act be extended

For many unemployed Americans, the $600 a week supplement on top of state unemployment results in some making more being unemployed than working. Testifying before the House Financial Services Committee, Mnuchin expressed his desire for the five week extension and that the $130 billion left in the fund be made available not to laid off health care workers or cash strapped school districts, but to “businesses that are most hard hit... [including] restaurants and hotels and others, where it is critical to get people back to work.”, In announcing the extension through a joint press release, Democratic Senate Minority Leader Chuck Schumer of New York commended the program as “a lifeline to... small businesses struggling to stay afloat during these turbulent times... Senate Democrats have ensured that small businesses can continue to have the opportunity to apply for these loans that can mean the difference between staying open and closing for good.”. |. Since our last article on eviction moratoriums several weeks ago, significant changes have occurred regarding COVID-related eviction moratoriums in Pennsylvania. With nearly 30 million Americans filing for unemployment in the last two months, unemployment is at its highest level in the last 90 years. Renters and homeowners who were financially impacted by the economic slowdown related to the coronavirus pandemic can immediately access applications for rent and mortgage relief via the Pennsylvania Housing Finance Agency’s website at www.PHFA.org/cares. Where Are We Going with Section 889 Part B? Under the auspices of former Goldman Sachs executive and current Treasury Secretary Steven Mnuchin, applications for the loans were submitted through the Small Business Administration with no oversight, just as intended. They should look for the red CARES banner on the PHFA homepage. Scripps National Desk. Besides stimulus checks, one of the big issues facing the economy is the pending expiration of the temporary $600 weekly federal unemployment benefit created by the Cares Act. The CARES Act established multiple programs with an expiration date of Dec. 31, 2020. However, each basis comes with its own set of limitations, and, thus, the sweeping relief provided through Section 3610 remains critically important. PHFA is administering both programs. Another provision of the CARES Act provides for an additional 13 weeks of state unemployment benefits after someone has exhausted their regular benefits. But those who can prove they’re at a higher risk could continue collecting the supplement, based on Department of Labor standards. Follow him on Twitter @jjboggs “Our agency prepared for this contingency, so we were able to immediately relaunch both programs once we received word about the governor’s emergency order.”. “I promise you over our dead bodies will this get reauthorized.”, “My dad owned a bar, a liquor store and a pool room. The extended unemployment benefits established by the CARES Act, an extra $600 per week funded by the federal government on top of state benefits, will … International Committee of the Fourth International, nearly half, 47.2 percent, of working-age Americans did not have work the month. Renters or landlords can apply for rent relief for apartment tenants, but renters are responsible for submitting all the documents needed to ensure their eligibility. See why nearly a quarter of a million subscribers begin their day with the Starting 5. The information contained herein is abridged and summarized from various sources, the accuracy and completeness of which cannot be assured. In that time, large businesses gobbled up loans worth up to $20 billion while Wall Street banks made over $10 billion in processing fees. All rights reserved. Measures under the CARES Act moved to pause student loan repayments and suspend interest through to September 30, however this only applied to government-held federal student loans. In late March, Congress approved the CARES Act, which was passed in an effort to keep the economy afloat amid the spread of the coronavirus. All Rights Reserved. The South Carolina Republican told the As discussed here and here, Section 3610 authorizes reimbursement of certain contractors who are unable to access their work sites and unable to telework during the pandemic—a critical stopgap designed to keep contractor workforces in a “ready state.”. In late March, Congress approved the CARES Act, which was passed in an effort to keep the economy afloat amid the spread of the coronavirus. Please contact Blank Rome for permission to reprint. You have 4 free articles remaining this month, Sign-up to our daily newsletter for more articles like this + access to 5 extra articles. © 2020 BLANK ROME LLP. ", Adams said: "We're living in unprecedented times, so we need an unprecedented response. Blank Rome’s Justin Chiarodo Named Government Contracts MVP by, ASBCA Broadens Scope of Acceptable CDA Certification Signatures, A Contractor’s Guide to Trump’s Diversity Training Order.

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