Policy Issues

Status of CARES Act passage [as of April 3]:  The Senate passed the CARES Act on Wednesday, March 25, by a 96-0 vote.  The House passed the bill on Friday, March 27, and President Trump signed the bill into law that afternoon. On Thursday, April 2, the Small Business Administration released “final interim regulations” to implement the program.

The Coronavirus Aid, Relief and Economic Security (CARES) Act  is the $2 trillion rescue bill that intends to respond to public health and economic issues caused by COVID-19 outbreak. 

It has been called “the biggest economic stimulus in American history.”  The CARES Act is also called “Phase III,” because it follows other COVID-19 responses that became law on March 6, 2020 and March 18, 2020.

Under the CARES Act, hospitals and the medical workforce get $100 billion for products, medicine, and equipment to help address the capacity surge in patients.  As an effort to alleviate the economic fallout from the pandemic, the CARES Act massively expands unemployment support, and directs cash payments to individuals and families.  It also provides loans, grants and other financial assistance to state and local governments, and all types and sizes of U.S. businesses.

For the business community, a number of financial programs are available depending on how many workers are employed by a given business concern. See summaries of provisions for:

Small Business Emergency Loans Under the

Small Business Emergency Loans Under the "Paycheck Protection Program"

Independent contractors, sole proprietors, and businesses with 500 employees or less

Mid-Sized Lending Facility

Mid-Sized Lending Facility

Businesses with 501 to 10,000 employees

Federal Reserve 13(3) Lending Programs and Facilities

Businesses with any number of employees over 500

Policy Comment Letters
Jul 30, 2021

Coalition Opposes Eviction Moratorium Extension

View Letter

This week, a coalition of national associations, representing for-profit and non-profit housing owners, operators, developers, lenders, property managers and cooperatives involved in the provision of affordable and conventional rental housing, urged Congressional leaders to reject an extension of the federal eviction moratorium.

As America progresses down the road to economic recovery from the COVID-19 pandemic, we must end emergency measures in the housing sector and instead focus on the distribution of the nearly $50 billion in federal Emergency Rental Assistance Program (“ERAP”) funds provided by Congress earlier this year.

We urge Congress to reject further extensions of federal eviction moratoria and, instead, continue to work with the Administration on focusing on providing rental assistance implementation resources and on helping grantees with the disbursement of those funds to those residents and housing providers in need.

Our organizations are committed to working with the Administration and Congress to ensure that ERAP is a success, to help residents regain housing stability, and to preserve the viability of the rental housing sector.

 

Staff Contact
DD-Oct2019 - contact Duane J. Desiderio 
 Senior Vice President & Counsel
RM-Oct2019 - contact Ryan P. McCormick
 Senior Vice President & Counsel
CER - Oct2019 - contact Clifton (Chip) E. Rodgers, Jr. 
 Senior Vice President