Policy News - September 9, 2020 - Association for Enterprise Opportunity

The Senate is back in Washington this week, carrying the hope of reaching an agreement on another coronavirus stimulus deal, dubbed the “skinny” package. The bill would include an extension of PPP and more enhanced unemployment money for schools and daycare. Other deadlines on the horizon include passing a government funding bill—all before lawmakers adjourn yet again to hit the campaign trail.

In a statement released Tuesday morning from Senate Majority Leader Mitch McConnell, the Senate Republican majority will introduce a new targeted proposal, focused on “some of the very most urgent healthcare, education, and economic issues.” He hopes to bring the bill to vote as soon as this week.

Congress has until the end of September to pass a government funding bill, which could come into play when passing another stimulus package. House Democrats support a $2.2 trillion measure while Senate Republicans are largely in favor of a $500 million plan, supported by the White House. Lawmakers and the White House are expected to take baby steps and meet in the middle at $1.5 trillion.

On a positive note, the Department of Labor released the monthly jobs report, which showed a 2 percent decline in unemployment, putting the August unemployment count at 8.4%.

HAPPENING ON THE HILL

The House Small Business Committee will hold a hearing on finding transparency in small business lending. The hearing is scheduled for TODAY at 1:00 PM.

The House Small Business Subcommittee on Rural Development, Agriculture, Trade and Entrepreneurship will hold a (remote) hearing on kickstarting entrepreneurship and Main Street recovery. The hearing is scheduled for Sept. 10th at 1:00 PM.

The House Small Business Subcommittee on Contracting and Infrastructure will hold a hearing on how the SBA’s Office of Government Contracting and Business Development (GCBD) operates within the agency. The hearing is scheduled for Sept. 15th at 10:00 AM

The House Financial Services Committee will hold a (virtual) hearing on the need for financial aid in American states and territories during the pandemic. The hearing is scheduled for Sept. 10th at 12:00 PM.

The House Financial Services Committee will hold a (hybrid) hearing on the Treasury and Fed Reserve pandemic responses. The hearing is scheduled for Sept. 22nd at 10:30 AM.

The House Financial Services Task Force on Financial Technology will hold (virtual) a hearing on who has authority to lend and process payments in the FinTech age. The hearing is scheduled for Sept. 29th at 12:00 PM.

The Senate Banking, Housing and Urban Affairs Committee will hold a (virtual) hearing on emergency lending capabilities of the Federal Reserve. The hearing is scheduled for TODAY at 10:00 AM.

BILLS OF INTEREST

Rep. Charlie Crist (D-FL-13) introduced a bill in the House that would amend the Paycheck Protection Program (PPP) and Health Care Enhancement Act to include the scale-up of testing by vet and biotech labs.