Please see below for the most current info on the federal and state levels as of 4/20/20 in response to COVID-19:
Federal:
- The Department of the Treasury and IRS launched the “Get My Payment” web application. The free app allows taxpayers who filed their tax return in 2018 or 2019 but did not provide their banking information on either return to submit direct deposit information to get their Economic Impact Payments (EPIs) deposited directly in their bank accounts and to track the status of their payment.
- The Social Security Administration (SSA) announced that Supplemental Security Income (SSI) recipients will automatically receive their EPIs directly to their bank accounts through direct deposit, Direct Express debit card or by paper check, just as they would normally receive their SSI benefits. The Treasury anticipates SSI recipients will receive these automatic payments no later than by early May.
- The Treasury Dept updated its FAQs on Economic Impact Payments and FAQs on “Get My Payment”.
- The IRS posted new FAQs regarding COVID-19-related tax credits for required paid sick and family leave provided by small and midsize businesses.
- The Federal Reserve announced that its Paycheck Protection Program (PPP) Liquidity Facility is fully operational and available to provide liquidity to eligible financial institutions, which will help support small businesses.
- While the PPP negotiations seem to be at a standstill, House Minority Leader McCarthy’s comments in support of a proposal to add additional hospital funding to a $250 billion relief package for small businesses could be an early sign of a deal coming together. Congress could take action as soon as April 22.
- Senator Ted Cruz announced his intention to introduce two pieces of legislation when Congress returns to expand healthcare access and make testing more accessible and widely available.
- Senators Shelley Moore Capito, Amy Klobuchar and Bob Casey introduced legislation to enhance telehealth support for seniors and increase access to technology for virtual visits during the coronavirus pandemic.
- Representatives Bobby Scott, Steven Horsford and Debbie Dingell introduced legislation that would cover 15 months of health premium payments for workers who are unemployed or furloughed during the pandemic. Workers would be eligible for the benefit if they are affected by the crisis, starting March 1 and ending six months after the public health emergency.
States
- The Small Business Administration (SBA) released a state-by-state PPP lending update.
- CMS released additional guidance to states on the Families First Coronavirus Response Act (FFCRA) and the CARES Act. The FAQs address enhanced federal Medicaid funding and other topics during the COVID-19 national emergency.