Month: April 2020

Capitol Hill Update

Negotiations between Congressional leadership and White House officials on the next round of COVID-19 legislation will continue throughout this weekend after funding for the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) lapsed yesterday. While Treasury Secretary Steven Mnuchin and Senate Minority Leader Chuck Schumer (D-NY) have expressed optimism on the prospects of reaching a deal over the course of the coming days, Senate Majority Leader Mitch McConnell (R-KY) has remained steadfast in his position that the “Phase 3.5” effort should only address funding for the PPP and that funding for other Democratic priorities — such as health care providers, states, and local governments — should be taken up in the “Phase IV” legislation. The PPP will no longer be able to process applications and issue loans until Congress can reach a deal that would appropriate additional funds to the SBA’s signature COVID-19 response program.

Capitol Hill Update

Lawmakers are scrambling to reach a deal on the next tranche of COVID-19 response legislation amid growing concerns about the lapse in funding for the Small Business Administration’s (SBA) Paycheck Protection Program (PPP). Treasury Secretary Steven Mnuchin and SBA Administrator Jovita Carranza issued a statement last night urging Congress to appropriate additional funds for the PPP, noting that the program will no longer be able to process applications and issue loans under its current funding allocation. While Treasury Secretary Steven Mnuchin and Senate Minority Leader Chuck Schumer (D-NY) suggested that an agreement could be struck by the end of this week, Senate Republicans have remained steadfast in their position that the “Phase 3.5” effort should only address funding for the PPP and that funding for other Democratic priorities — such as health care providers, states, and local governments — should be taken up in the forthcoming “Phase IV” legislation.

Capitol Hill Update

Congressional leadership and White House officials are continuing negotiations on the next round of COVID-19 response legislation, eyeing a compromise solution on the next tranche of funding for pressing response efforts. While Treasury Secretary Steven Mnuchin and Senate Minority Leader Chuck Schumer (D-NY) suggested that an agreement could be struck by the end of this week, Senate Republicans have remained steadfast in their position that the “Phase 3.5” effort should only address funding for the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), and that funding for other priorities — such as health care response efforts, states, and local governments — should be taken up in the forthcoming “Phase IV” legislation. As such, timing on consideration and passage of the next round of COVID-19 legislation remains in flux. Lawmakers will not convene for legislative business until May 4 at the earliest. The Senate will convene for its next pro forma session tomorrow at 3 PM EST, with the House convening on Friday at 10 AM EST.

Capitol Hill Update

Despite eyeing the next week for a possible return to Washington, lawmakers are not expected to convene for legislative business beyond pro forma sessions this month. House Majority Leader Steny Hoyer (D-MD) issued a statement yesterday saying that members are not expected back until May 4 at the earliest unless there are pressing circumstances that would require the lower chamber to convene. Meanwhile, Congressional leadership and White House officials are continuing negotiations on the next round of COVID-19 response legislation, eyeing a compromise on funding for the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) and other pressing priorities by the end of this week. The Senate will convene for its next pro forma session on Thursday at 3 PM EST, with the House convening the following day at 10 AM EST.

Capitol Hill Update

Congressional leadership and White House officials are engaged in negotiations on another round of funding for COVID-19 response efforts after an effort to provide $250 billion for the Small Business Administration’s Paycheck Protection Program (PPP) stalled out last week. While President Donald Trump and Senate Majority Leader Mitch McConnell (R-KY) have expressed the desire to address additional funding for health care, states, and local governments in the “Phase IV” legislation, Speaker Nancy Pelosi (D-CA) has remained steadfast in her position that the “Phase 3.5” effort must include these priorities in order for the bill to pass by unanimous consent in the House. Treasury Secretary Steven Mnuchin and Senate Minority Leader Chuck Schumer (D-NY) have opened talks on the next round of response legislation, and have expressed optimism about the possibility of reaching a compromise before the end of the week.

Capitol Hill Update

Washington is currently at a crossroads with the next tranche of COVID-19 legislation after Senate Majority Leader Mitch McConnell’s (R-KY) “Phase 3.5” measure failed to advance by unanimous consent in the Senate yesterday. While the White House and Senate Republicans are pushing for an additional $250 billion for the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), House Speaker Nancy Pelosi (D-CA) emphasized that the proposal cannot pass the House in its current form without addressing additional funding for frontline COVID-19 workers, health care needs, and state and local government response efforts. Conversely, Trump administration officials have stated that President Donald Trump will not sign a bill that includes priorities beyond the PPP, saying that he prefers to handle additional funding needs in the “Phase IV” legislation. As such, it remains to seen whether officials can coalesce around an agreement on this expedited measure. Senators will convene for their next pro forma session on Monday, Apr. 13 at 10 AM.