Coronavirus Government Response Update—Small Business Loan Program Out of Funding

April 16, 2020 Coronavirus Government Response Update—Small Business Loan Program Out of Funding

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 the small business loan program running out of money, U.S. President Donald Trump tapping U.S. companies to advise his administration on reopening the economy, the California governor unveiling a guide to lift the state’s coronavirus restrictions, and more.

Small Business Loan Program out of Money amid Impasse over New Funds
The initial US$349 billion pool for emergency loans for small businesses derailed by the coronavirus pandemic has run dry as Republicans and Democrats debate on how to replenish the relief program. The U.S. Treasury Department and Small Business Administration have tapped the entirety of funding allotted for the Paycheck Protection Program, which offers forgivable loans to small businesses intended to keep workers on payroll and small firms from going under.

Trump Taps U.S. Companies to Advise on Reopening Economy amid Coronavirus Pandemic
President  Trump named representatives from dozens of the nation’s largest companies to an advisory group Tuesday to help him study options for restarting the U.S. economy as conservative groups lobby for a quick reopening. Trump initially said he would name a “task force” to examine whether to extend federal social distancing guidelines set to expire May 1. Instead, he named more than 100 industry leaders to what the White House described as “economic revival industry groups” and left them unclear as to exactly what their role will be in the process.

California Gov. Gavin Newsom Unveils Guide to Lifting State’s Coronavirus Restrictions
California Gov. Gavin Newsom announced a guide to how California will reopen society and the economy across the state as officials weigh lifting restrictive orders meant to curb the spread of the coronavirus. Newsom issued a statewide stay-at-home order on March 19, making it one of the first states to issue mandatory social distancing policies in response to the Covid-19 outbreak. Newsom outlined six key indicators that will guide the state’s decision as it considers lifting the stay-at-home order.

Take Action Now–Urge Your Federal Elected Officials to Support the Clean Start: Back to Work Tax Credit
ISSA launched its Clean Start: Back to Work Tax Credit advocacy campaign. The Clean Start: Back to Work Tax Credit would create a refundable tax credit to incentivize businesses to properly clean and disinfect their facilities when “stay at home” restrictions are lifted, as well as to help prevent further infections.

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