September 9, 2020
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Congressional Gridlock For New Coronavirus Relief Bill
According to the National
Association of State Budget Officers (NASBO), United States Senate Republicans
have proposed a targeted coronavirus relief bill. Aspects of the bill:
- Extends the deadline to
September 30, 2021 for spending Coronavirus Relief Funds but does not
provide any additional flexibility or funding;
- gives states the option
to continue providing $300/week in additional, federally funded
unemployment benefits through December 27;
- creates a second round
of the Paycheck Protection Program (PPP) with some reforms;
- provides $105 billion
through an Education Stabilization Fund;
- provides $16 billion for
testing, contact tracing and surveillance in states;
- provides $5 billion for
the Child Care and Development Block Grant;
- and provides $20 billion
of additional farm assistance.
A summary of the bill can be found here. The Senate is
expected to vote on the bill later this week, but it is not expected to garner
much Democratic support and sharp differences remain between the chambers.
-
The NASBO professional
membership organization for state finance officers for more than sixty years.
NASBO is the instrument through which the states collectively advance state
budget practices.
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