Coronavirus Government Response Update—ISSA Surpasses 500 Advocates for Clean

June 10, 2020 Coronavirus Government Response Update—ISSA Surpasses 500 Advocates for Clean

Welcome to the Coronavirus Government Response Update. This information is intended to keep ISSA members up to date on fast-moving government affairs related to the COVID-19 pandemic, as well as other public policy issues important to the cleaning industry. Today’s update touches on ISSA surpassing 500 Advocates for Clean, the expansion of the U.S. Federal Reserve’s Main Street Lending Program, Paycheck Protection Program (PPP) funds, and more.

ISSA Surpasses 500 Advocates for Clean
ISSA thanks the more than 500 members who have become Advocates for Clean to assist ISSA in our advocacy efforts. Please take a moment to become an ISSA Advocate for Clean today and be the first to hear about pressing legislation, compliance deadlines, advocacy events, training, and more!

Fed’s Main Street to Include More Small Businesses
The Federal Reserve expanded its Main Street Lending Program, which it said will be open for eligible lenders soon, allowing more companies to participate and lessening the burden on banks that create the loans, according to Bloomberg. Businesses participating in the program, which aims to boost lending to small and mid-size companies, will be able to defer principal payments on their loans for two years, up from the previously announced one year. Interest payments will still be deferred for one year.

Attention Small Businesses: Billions in PPP loans still unused
The Paycheck Protection Program still has over US$100 billion remaining for companies that have not yet been able to take advantage of the aid. The program’s “messy execution” and “confusing rules” have deterred some businesses from using the money. However, extra cash can go a long way towards increasing, or even for businesses surviving the pandemic, maintaining confidence about keeping one’s workforce and remaining viable in today’s economy.

U.S. Consumer Prices Fell for Third Straight Month
The U.S. Department of Labor announced a 0.1% drop in inflation in May due to weak demand amidst the COVID-19 pandemic. Compared to March’s and April’s 0.4% and 0.8% dips, though, the downward rate has smoothed out a bit as groceries, rent, and medical services factored in more positively to the Consumer Price Index.

Other links of interest