Yesterday the Senate passed by voice vote the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), which appropriates an additional $321 billion to the Payment Protection Program, $60 billion for loans and grants for economic disaster assistance, $75 billion for hospitals and $25 billion for testing. The House is expected to pass the bill on Thursday by allowing members to vote by proxy, in which a member could designate a colleague to vote on their behalf.
Work now begins on a fourth Coronavirus aid package, also called CARES 2. “As soon as it has passed in the House, we will advance CARES 2, which must be transformative and far-reaching,” Speaker Nancy Pelosi (D-CA) and Senate Minority Leader Chuck Schumer (D-NY) said in a joint statement.
Representatives Suzan DelBene (D-WA), Kenny Marchant (R-TX), Don Beyer (D-VA) and Jackie Walorski (R-IN), the lead sponsors of the Affordable Housing Credit Improvement Act (H.R. 3077), sent a letter to House Speaker Nancy Pelosi (D-CA) and Leader Kevin McCarthy (D-CA) urging the inclusion of crucial tax policies to support affordable housing as part of COVID-19 relief legislation. We are hopeful that the four percent fix, lowering of the 50 percent test and other LIHTC relief measures will be included in the next package.
Yesterday President Trump sent two tweets: “I urge the Senate and House to pass the Paycheck Protection Program and Health Care Enhancement Act with additional funding for PPP, Hospitals, and Testing. After I sign this Bill, we will begin discussions on the next Legislative Initiative with fiscal relief…to State/Local Governments for lost revenues from COVID 19, much needed Infrastructure Investments for Bridges, Tunnels, Broadband, Tax Incentives for Restaurants, Entertainment, Sports, and Payroll Tax Cuts to increase Economic Growth.”
Senate Majority Leader Mitch McConnell (R-KY) said, “I will predict that we will not try to pass another rescue package by consent. My view is we ought to bring everybody back, have full participation.” Congress is not due back in Washington until May 4 at the earliest.
