<div>Senate GOP Targeted Relief Package TITLE I—OFFSETS <ul><li>13(3) Rescission ($429 billion) – The provision would rescind all unused money from 13(3) lending facilities, allowing those funds to be used for other important purposes.</li></ul> <ul><li>Toomey Proposal – The provision would ensure the emergency authority is terminated at the end of the year and could not be restarted.</li></ul> <ul><li>Redirects unobligated CARES funding - Repurposes $140 billion in unspent CARES small business funding.</li></ul> TITLE II—CORONAVIRUS LIABILITY RELIEF <ul><li>The SAFE TO WORK Act promotes reopening the economy and schools, and helps fight the coronavirus.</li></ul> <ul><li>It includes liability limitations for COVID-related personal injury claims against businesses, COVID-related medical malpractice claims, expansion of PREP Act to cover additional countermeasures, and protections from liability under labor and employment laws for businesses that help fight COVID.</li></ul> <ul><li>It creates federal causes of action for personal injury and medical malpractice laws and preempts conflicting state laws. Doing so promotes uniformity and precludes trial lawyers from gaming the system.</li></ul> <ul><li>The protections of the bill apply to hospitals healthcare workers, small and large businesses, schools, colleges and universities, religious, philanthropic and other nonprofit institutions, and local government agencies.</li></ul> TITLE III—ASSISTANCE FOR AMERICAN FAMILIES [UI] Pandemic Unemployment Assistance (PUA) 1-Month Extension and Phase-Out <ul><li>The CARES Act created the PUA program, modeled after the long-standing Disaster Unemployment Assistance (DUA) program, to provide support to those not traditionally eligible for state unemployment benefits (e.g., “gig workers”).</li></ul> <ul><li>The provision would extend the PUA program by one month (to end on January 31, 2021 rather than December 31, 2020) and allow for a phase-out involving a two month period after January 31, 2021 during which new assistance claimants are not allowed into the program, but those who are already receiving assistance for whatever remains of their eligible weeks of assistance.</li></ul> <ul><li>The proposal also establishes guardrails against fraud, including requirements that benefit applicants must provide documentation within 21 days of applying to substantiate prior employment or self-employment (or the planned commencement of employment or self-employment).</li></ul> Pandemic Emergency Unemployment Compensation (PEUC) 1-Month Extension and Phase-Out <ul><li>The CARES Act created the PEUC program that provides an extra 13 weeks of unemployment insurance to those who have exhausted their unemployment compensation benefits.</li></ul> <ul><li>The provision would extend the PEUC program by one month (to end on January 31, 2021 rather than December 31, 2020) and allow for a phase-out involving a two month period after January 31, 2021 during which new assistance claimants are not allowed into the program, but those who are already receiving assistance for whatever remains of their eligible weeks of assistance.</li></ul> TITLE IV—SMALL BUSINESS PROGRAMS The Continuing the Paycheck Protection Program Act would provide additional assistance to the hardest-hit small businesses that are struggling to recover from the impacts of the COVID-19 pandemic. Paycheck Protection Program Second Draw Loans:<ul><li>Establishes a second round of PPP loans for eligible businesses.</li></ul> <ul><li>Defines eligibility for second PPP loans as small businesses that meet the applicable SBA revenue size standard, have no more than 300 employees, and demonstrate at least a 25 percent reduction in gross revenues between comparison quarters in 2019 and 2020.</li></ul> <ul><li>Includes set-asides to support first time PPP borrowers with 10 or fewer employees, second time PPP borrowers with 10 or fewer employees, first time PPP borrowers who have been made newly eligible, and second time returning PPP borrowers. Additionally, provides for a set-aside for loans made by community lenders.</li></ul> <ul><li>The maximum loan size, up to $2 million, would equal 2.5 times the average total monthly payroll costs plus up to $50,000 for covered worker protection expenditures incurred or paid by the eligible recipient during the period beginning March 1, 2020 and ending on the date of enactment of the Act.</li></ul> <ul><li>The 60/40 cost allocation for payroll and non-payroll costs to receive full PPP forgiveness would continue to apply.</li></ul> Paycheck Protection Program Improvements: <ul><li>Expands forgivable expenses to include covered supplier costs, covered worker protection expenditures, and covered operations expenditures.</li></ul> <ul><li>Allows borrowers to select a loan forgiveness covered period between 8 weeks and 24 weeks during which to spend loan proceeds on forgivable costs.</li></ul> <ul><li>Simplifies the forgiveness application process for smaller loans up to $150,000 while increasing SBA’s ability to audit and review forgiven loans. Appropriates $50 million to support this audit authority.</li></ul> <ul><li>Provides Farm Credit System Institutions with greater certainty and equity in PPP lending participation.</li><li>Defines “seasonal employer.”</li><li>Eliminates the requirement that EIDL advances be subtracted from PPP forgiveness.</li></ul> <ul><li>Establishes a procedure in the bankruptcy process if the Administrator determines certain companies in Chapter 11 are eligible for PPP loans.</li></ul> Support for Venues: <ul><li>Establishes a grant program to support shuttered live venues and theaters that have experienced significant revenue losses.</li></ul> Estimated Cost: $332.7 billion <ul><li>$257.7 billion for Paycheck Protection Program Second Draw Loans as voted on in the HEALS Act;</li></ul> <ul><li>An additional $20 billion in the cost of PPP to reduce the revenue loss threshold under which businesses are eligible for PPP from the HEALS Act’s 35 percent to 25 percent;</li></ul> <ul><li>An additional $40 billion in the cost of PPP to increase PPP loan amounts by amounts spent by businesses on covered worker protection expenditures in order to help “front-line” sectors like restaurants and personal services.</li></ul> <ul><li>$15 billion for the grant program for shuttered venues.</li></ul>  TITLE V —POSTAL SERVICE ASSISTANCE The provision would forgive the USPS $10 billion Treasury loan authorized in CARES. The loan is accessible only if the USPS cash balance drops to $8 billion and includes a report to Congress on how COVID has increased expenses. This provision mirrors the offer made to Democrats by the administration. TITLE VI – EDUCATIONAL SUPPORT AND CHILDCARE <ul><li>Educational Support: Authorizes one-time, emergency appropriations funding for scholarship-granting organizations (SGOs) in each state. States subgrant funds to SGOs that administer scholarships for students to use toward qualified educational expenses (as determined by the state), such as private school tuition and home-schooling expenses.</li></ul> <ul><li>The provision provides two years of tax credits for contributions to scholarship-granting organizations based on legislation introduced by Senators Scott, Alexander, and Cruz (School Choice Now Act/S. 4284)</li></ul> <ul><li>529 Account Enhancements - The provision would allow parents of K-12 student at public, private, or religious schools to use 529 plan funds for expenses like books, online materials, licensed tutoring, that students may need to deal with the current circumstances and that are not provided by the school. It would also allow parents who home school to use 529 plan funds for educational expenses. The provision mirrors the Student Empower Act (S. 157), except it expires after two years.</li></ul> <ul><li>Childcare: Authorizes short-term assistance to help child care providers reopen and stay open so that parents have a safe place to send their children when they return to work.</li></ul>   TITLE VII— PANDEMIC PREPARATION AND STRATEGIC STOCKPILES <ul><li>Authorizes improvements and supports for sustained on-shore manufacturing surge capacity and capabilities to produce needed medical countermeasures, such as vaccines and therapeutics, to respond to public health threats like COVID-19.</li></ul> <ul><li>Authorizes grants for the establishment of state stockpiles of medical products and supplies needed during a public health emergency.</li></ul> <ul><li>Makes improvements to the Strategic National Stockpile by encouraging partnerships with those in the medical product supply chain to increase manufacturing and stockpiling capacity.</li></ul> TITLE VIII —CORONAVIRUS RELIEF FUNDS EXTENSION <ul><li>Extends the deadline to Sept 30, 2021 for spending already appropriated money. No additional flexibility or funding.</li></ul> TITLE IX— REVENUE CHANGES <ul><li>Charitable Giving - The CARES Act included a new $300 above-the-line deduction for charitable contributions that taxpayers can claim for 2020. The provision increases the amount to $600 for individuals and $1,200 for those filing a joint return.</li></ul> <ul><li>Restaurants - Based on Senator Tim Scott’s, Supporting America’s Restaurant Workers Act the provision provides a 100% deduction for business meals.</li></ul>  TITLE X—CRITICAL MINERALS <ul><li>The Senate ENR committee bipartisan proposal to make us less dependent on China and other unstable, unreliable and hostile regimes for critical minerals</li></ul> TITLE XI—MISCELLANEOUS <ul><li>Correction to Emergency Designation</li></ul> DIVISION B – ADDITIONAL EMERGENCY APPROPRIATIONS FOR CORONAVIRUS HEALTH RESPONSE <ul><li>Provides $105 billion through an Education Stabilization Fund to help get students back to school and provide for the continued learning of all students in elementary and secondary education and higher education.</li></ul> <ul><li>Provides $16 billion for testing, contact tracing and surveillance in states. Requires additional reporting by states to improve accountability over these federal funds.</li></ul>  <ul><li>Provides $31 billion for vaccine, therapeutic and diagnostic development; vaccine distribution; the Strategic National Stockpile and grants for the establishment of state stockpiles.</li></ul> <ul><li>Provides $20 billion of additional farm assistance. Emulates the successful approach in the CARES Act, giving the Secretary of Agriculture broad authority to address COVID-related impacts on our farmers, ranchers, growers and processors.</li></ul> <ul><li>Provides $500 million to direct federal assistance to all manner of fishers, fishery participants, and communities that have been affected by the coronavirus.</li></ul> <ul><li>Provides $5 billion for the Child Care and Development Block Grant, including direct support for child care providers to help ensure working parents have access to child care so they can work or return to work. Provides $10 billion for Back to Work Child Care Grants, as authorized in Title VI.</li></ul></div>

Senate GOP Releases Summary of Pandemic Relief Package

U.S. Senate

A proposed pandemic relief package from Senate Republicans would provide two years of tax credits for contributions to groups that grant scholarships, increase the above-the-line charitable deduction for 2020, and allow parents to use section 529 accounts for educational expenses, according to a summary circulating among lobbyists.

A proposed pandemic relief package from Senate Republicans would provide two years of tax credits for contributions to groups that grant scholarships, increase the above-the-line charitable deduction for 2020, and allow parents to use section 529 accounts for educational expenses, according to a summary circulating among lobbyists.