Senate Majority Leader Mitch McConnell on Wednesday said approval of another coronavirus stimulus package before the end of the year would be his top priority when the Senate reconvenes next week. Funding for state and local governments, a sticking point in prior negotiations, could also be considered, he said.

A key impediment to achieving a congressional compromise on COVID-19 relief and economic stimulus is the level of aid to be given to states and local governments. Congress can include two provisions in the pending stimulus legislation to make the level of federal aid to a state or locality contingent on practices that promote sound intergovernmental fiscal management.

Because of the continuing COVID-19 crisis, the IRS has issued Revenue Procedure 2020-49 (the Revised Guidance), which extends the period during which remote telephonic hearings qualify as "public hearings" required for private activity bonds to Sept. 30, 2021. Originally, such telephonic hearings could not be held past Dec. 31, 2020.

U.S. employers hired the fewest workers in five months in October, offering the clearest evidence yet that the end of fiscal stimulus and exploding new COVID-19 infections were sapping momentum from the economic recovery.

From March-June 2020, hospitals and healthcare systems faced an estimated $202.6 billion in losses, averaging roughly $50.7 billion per month. Although Congress was quick to respond with emergency relief funding, it may not be enough to support a system that was already financially strained before the outbreak. The pandemic has exacerbated these financial constraints.

Lynne Funk and Gary Siegel discuss how the election results will affect the municipal market, how the Fed moves forward, and some winners and losers with bond ballot measure results and muni advocates who held onto their seats in Congress.

Rhode Island will receive $47,949,475 from FEMA for materials in support of medical personnel, facilities and testing sites costs as a result of the major disaster declaration for Rhode Island's COVID-19 Pandemic.

A $20 million COVID-19 relief program for Erie County small businesses received $97.3 million worth of requests for aid – nearly five times more than is available. The "Back to Business" program attracted applications from 5,022 small businesses harmed by the pandemic, seeking help with covering their expenses.

CDFA // BNY Mellon Development Finance Webcast Series: Financing Resilient Infrastructure
Tuesday, November 17, 2020 - 1:00 PM Eastern

CDFA-PFM Capital Markets Webinar Series: An Advanced Discussion on Ratings
November 19, 2020 - 2:00 - 3:30 PM Eastern

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The COVID-19 pandemic and associated public health and social distancing mandates caused unprecedented shifts and disruptions for Local and Regional Food Systems (LRFS). USDA Agricultural Marketing Service (AMS) along with the cooperating research team led by the University of Kentucky seek to enrich existing efforts within LRFS communities of practice who provide essential support to our nation's local food producers.

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