RECONCILIATION MARKUP… Yesterday, the House Committee on Small Business will hold a hybrid markup providing for reconciliation pursuant to S.Con.Res. 5, the Concurrent Resolution on the Budget for Fiscal Year 2021. A section by section summary can be viewed here.
BIDEN HOSTS BUSINESS LEADERS… On Tuesday, President Biden hosted business business leaders to discuss possible common ground on the American Rescue Plan. To view the prepared remarks made by the President, see here.
SBA PPP MILESTONE… The Small Business Administration (SBA) has approved $103 billion of PPP funds to more than 1.4 million small businesses this week. The SBA reports that this funding round has increased partnerships with Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs), reached rural communities (28% of businesses are from rural communities), and reached more of America’s small businesses (82% of funding was for loans less than $100k).
VACCINE ACCESS CONCERNS… With 2,795 Covid-19 deaths and 93,000 new U.S. cases yesterday alone, many questions are being raised about vaccine access for underserved communities. A recent report from the Centers for Disease Control and Prevention has only amplified this concern, revealing that the government has recorded race and ethnicity data for only 52% of vaccine recipients.
The Administration will be starting a program for targeted vaccine distribution for federally funded clinics in underserved areas beginning next week. To stay up to date on state vaccine information, check out Prism Group’s state vaccine tracker.
SBA’s PPP UPDATE… The SBA released a Procedural Notice, effective yesterday, to update the Paycheck Protection Program lender processing fee payment and 1502 reporting process. See here for additional information.
IMPEACHMENT 2.0… Washington’s focus today largely remains on former President Trump’s second impeachment trial.