Summary of the CARES Act
This is a summary of the Coronavirus Aid, Relief, and Economic Security (CARES) Act from the Congressional Research Service. This is the third in a series of legislative packages addressing the COVID-19 pandemic.
$2 Trillion Emergency Relief Includes Muni Market Provisions
A Coronavirus Relief fund of $150 billion would be shared among state, local and tribal governments while the Federal Reserve would be authorized to purchase all types of municipal bonds under the $2 trillion package.
Frequently Asked Questions for SBA's Economic Injury Disaster Loan Program
This document contains Frequently Asked Questions for the SBA's Economic Injury Disaster Loans (EIDL) Program, a low-interest federal loan issued by the SBA to alleviate economic injury small businesses or private non-profits are experiencing injury and injury caused by COVID-19.
Tax Filing Delays Will Hit Near-Term Liquidity for State Govts
Extension of tax filing deadlines and reduced economic activity brought on by the coronavirus pandemic will pressure states' short-term liquidity, although Fitch Ratings says most, and potentially all, states will absorb the deterioration without materially affecting credit quality.
Highlights of CARES Act for Tribal Nations
The National Congress of American Indians (NCAI), tribal nations, partner organizations, and tribal advocates worked tirelessly to develop Indian Country's top policy priorities for addressing COVID-19. The final stimulus legislation features strong provisions in support of these priorities and will help tribal communities across Indian Country as they respond to the pandemic.
Key COVID-19 Response Strategies for Development Finance Agencies
Development finance has always been at the forefront of recovering from natural disasters and economic challenges. The emergence of the COVID-19 crisis requires a unique and targeted response by the federal government, state and local development finance agencies (DFAs), private banks, and philanthropy. The following set of strategies and recommendations is designed to help DFAs evaluate their portfolios and determine whether modifications are needed for their bonds, tax increment finance, and revolving loan fund programs.
Dealers Face Compliance Challenges in Coronavirus-Impacted Market
Nearly unprecedented price volatility in the past two weeks has caused a compliance challenge for broker-dealer firms as they try to keep pace with the market. Benchmark yields swung between 50 to 60 to 75 basis points in either direction over the course of two weeks, first correcting higher and then falling sharply this week.
Senate Passes Phase III of the Federal Coronavirus Relief Legislation
Following days of often tense negotiations, the United States Senate has passed the third phase of federal coronavirus relief legislation, the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), which will provide $2 trillion in economic aid to individuals and businesses impacted by the coronavirus public health emergency.
How Can We Alleviate Economic Insecurity During The Pandemic?
Host Justin Milner speaks with Urban's Donald Marron and the Tax Policy Center's Howard Gleckman about the pandemic's economic impact and powerful economic solutions we can use to respond.
What The $2T Stimulus Package Means For The Food System
A number of stimulus provisions are aimed at helping producers and workers throughout the food supply chain, from agricultural producers to restaurant workers, but small and independent restaurant owners say they've been left out of the stimulus package altogether.
Fed Announces Unlimited Bond Purchases in Unprecedented Move to Prevent a Depression
The Federal Reserve launched an unprecedented effort to keep money flowing to companies, households and cities by buying unlimited amounts of U.S. Treasurys and mortgage-backed securities, an extraordinary backstop for lending markets that goes much further than what the central bank did in the 2008-2009 crisis.
USDA Implements Measures to Help Affected Rural Residents, Businesses, Communities
USDA Rural Development has taken a number of immediate actions to help rural residents, businesses and communities affected by the COVID-19 outbreak. Rural Development will keep its customers, partners, and stakeholders continuously updated as more actions are taken.
COVID-19: Impact on Financial Markets and Opportunity Zones
Craig Bernstein, principal of OPZ Capital, which launched the OPZ Capital Opportunity Zone Fund in 2018, is the guest on this episode of Opportunity Zones podcast. He discusses opportunity zones and what the pandemic means for their future, as well as the overall economic shift the virus has caused at it spreads across the United States. Find the episode and a transcript here.