As we continue to navigate the Coronavirus outbreak response and implementation of Coronavirus legislation, please take some time to review this newsletter for the latest updates and information on COVID-19 resources.
Now more than ever, it is imperative for Congress to work alongside the Trump Administration and focus on combatting the COVID-19 pandemic so we can protect the health and safety of Americans, while also getting economic relief into the hands of families and businesses working to get through this crisis.
Congress has passed three separate bills to provide immediate resources to our medical professionals, individuals, families and small businesses. For a detailed summary of the most recent of these bills, the CARES Act, please review this document compiled by my office.
Updates on the Paycheck Protection Program
The U.S. Department of Treasury and the U.S. Small Business Administration continue to provide guidance on the Paycheck Protection Program.
This SBA loan program is being administered through individual lenders and banks, and small business owners should contact their bank for more information. Click here to use the SBA’s tool to find a nearby lender eligible to issue a loan under the Paycheck Protection Program.
- For a top-line overview of the program CLICK HERE
- If you’re a lender, more information can be found HERE
- If you’re a borrower, more information can be found HERE
- Frequently Asked Question’s on Paycheck Protection Program Loans can be found HERE.
The Paycheck Protection Program is a lifeline for American small businesses whose day-to-day operations have been disrupted through no fault of their own. American workers want to keep their jobs, and small businesses want to keep their employees — President Trump and Congress want to help make that happen. The Paycheck Protection Program has been very critical to that objective, and we need to make sure that it will work for all small businesses, not just those who were first in line, so that American workers will have jobs to go back to once shelter-in-place orders are lifted.
One day, soon, our lives will start returning to normal. The Paycheck Protection Program will expedite that return to normalcy and I strongly support President Trump’s urging to extend funding for this vital program. I want to commend Senate Majority Leader McConnell for preparing a quick response to this pressing need and I look forward to helping pass such legislation through the House as soon as possible.
Please visit my website, which will be updated daily with the latest resources on the Paycheck Protection Program and other resources available to individuals and small businesses.
Employee Retention Credit for Businesses Impacted by COVID-19
Last week, the Treasury Department and the IRS launched the Employee Retention Credit, which is designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19.
Use of Face Coverings to Prevent Spread of COVID-19
The CDC recently issued updated guidance that recommends wearing cloth face coverings in public where other social distancing measures are difficult to maintain (example: grocery stores and pharmacies), especiallyin areas of significant community-based transmission. Click here to read more on how the use of cloth face coverings can help slow the spread of COVID-19.
Community Updates and Good News of the Week
- Allstate is returning over $600 million in auto insurance premiums to more than 10 million customers because fewer drivers are on the road. This is great news for Americans who need extra money in their pockets right now.
- Smitty’s Supply in Tangipahoa Parish, which usually produces a variety of motor oils and anti freezes, has started making hand sanitizer to help with the Coronavirus crisis.
- This week, the Ernest N. Morial Convention Center in New Orleans opened as a Coronavirus field hospital. The Convention Center is intended to treat patients who no longer need acute treatment at a hospital, but still require care they cannot get at home.
- CVS Health created a pop up pharmacy to support the temporary COVID-19 medical facility inside the New Orleans Convention Center. This will be a huge help in relieving pressure on local hospitals.
House Republican Whip