President Donald Trump signed the Paycheck Protection Program and Health Care Enhancement Act (H.R. 226) into law on April 25, 2020, providing $484 billion in financial assistance and funding for various programs in response to the COVID-19 crisis, including the small business loan programs launched and expanded by the March 27th CARES Act.
The Senate passed the bill on April 21, and the House followed suit on April 23. The bill became Public Law No: 116-139.
The Paycheck Protection Program and Health Care Enhancement Act increases the authorization and appropriations level for the Paycheck Protection Program (PPP) from $349 billion to $659 billion, and the Emergency Economic Impact Grants from $10 billion to $20 billion. The Economic Injury Disaster Loan (EIDL) Program would get an additional $50 billion in appropriations.
As we discussed with John Miller, Deputy Associate Administrator of the Small Business Administration, on the Insights Association Virtual Town Hall on April 17, the funding for the PPP, the emergency grant program, and EIDL all ran dry last week.
The Senate attempted to replenish the small business programs' funding a couple of weeks prior, but House and Senate Democrats required the additional funding provisions before an agreement could be struck.
The new law designates at least $30 billion in PPP loans through banks and credit unions with $10 billion to $50 billion in consolidated assets, and $30 billion through smaller banks and credit unions, or community lenders such as community development financial institutions and minority depository institutions.
The Insights Association contacted Congress and the President in support of further small business loan program funding on April 8. At the same time, IA asked Congress and the White House to relax the SBA affilitation rules currently restricting the access of small businesses with equity investors, especially those with minority investments. Unfortunately, while the law answers our request for funding, the eligibility requirements remain unchanged.
Read Congressional summaries of the PPP/EIDL/EEIG program funding and hospital/healthcare testing and funding provisions.
IA maintains extensive coronavirus crisis-related information and is putting out fresh
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About the Author
Based in Washington, DC, Howard is the Insights Association's lobbyist for the marketing research and data analytics industry, focusing primarily on consumer privacy and data security, the Telephone Consumer Protection Act (TCPA), tort reform, and the funding and integrity of the decennial Census and the American Community Survey (ACS).
Howard has more than two decades of public policy experience. Before the Insights Association, he worked in Congress as senior legislative staffer for then-Representatives Christopher Cox (CA-48) and Cliff Stearns (FL-06). He also served more than four years with a science policy think tank, working to improve the understanding of scientific and social research and methodology among journalists and policymakers.
Howard is also co-director of The Census Project, a 900+ member coalition in support of a fair and accurate Census and ACS.
He has also served previously on the Board of Directors for the National Institute for Lobbying and Ethics and and the Association of Government Relations Professionals.
Howard has an MA International Relations from the University of Essex in England and a BA Honors Political Studies from Trent University in Canada, and has obtained the Certified Association Executive (CAE), Professional Lobbying Certificate (PLC) and the Public Policy Certificate (PPC).
When not running advocacy for the Insights Association, Howard enjoys hockey, NFL football, sci-fi and horror movies, playing with his dog, and spending time with family and friends.