With so many businesses and citizens feeling the negative impacts of COVID-19, I think most expected Congress to pass additional relief legislation that would lessen or soften those impacts. The trillion-dollar question is whether that will actually take place?

A quick look at what’s happened or not happened:

  • May 15 through mid-August – The U.S. House of Representatives passed H.R. 6800 Health and Economic Recovery Omnibus Emergency Solutions Act (the HEROES Act) with a fiscal impact of $3 trillion. Although the August recess was scheduled, it didn’t happen as normal and members continued to work although on a scaled-back basis. With the House and Senate too far apart (especially on funding to state and local governments), the bill wasn’t acted upon in the Senate.
  • August 18 – The U.S. Senate released a draft proposal for a COVID-19 relief package (through an amendment to S.178, the Delivering Immediate Relief to America’s Families, Schools and Small Businesses Act). The legislation, proposed by Senate Republican leadership, contained liability protection measures; $257.7 billion in small business loans; $29 billion for the Higher Education Emergency Relief Fund within the Education Stabilization Fund; $47 billion for testing, vaccine and therapeutic development; $300 in weekly unemployment benefits; and other programs. The measure has been referred to as the “skinny bill” because its fiscal impact is significantly less than that of the HEROES Act at $500 million. The bill failed to advance to the Senate floor after a 52-47 procedural vote on September 10.

What is next? There is a compromise Phase 4 relief proposal from the U.S. House Problem Solvers Caucus (bet you didn’t know such a thing existed). The caucus is comprised of 25 Republicans and 25 Democrats whose views are moderate and who wish to put good policy over politics.

Given the stalemate between the leaders of the House and Senate, the caucus released their proposal this week (September 15) with many details to be filled in later. The package addresses key areas of need, including COVID-19 testing, unemployment insurance, direct stimulus, worker and liability protection, small business and non-profit support, food security, schools and childcare, housing, election support, and state and local aid.

Unfortunately, these key issues have become very politicized with the general election just over 45 days away. The Chamber will continue its efforts on important COVID-19 relief, pushing our delegation on issues that need to be included in a new relief bill to help businesses and the workforce.

Let’s hope that Congress does the right thing, and soon, for our businesses and citizens.

Resource: Greg Ellis at (317) 264-6881 or email: gellis@indianachamber.com