Helpful Tip of the Day -- ABC’s Coronavirus Update Webpage:
ABC is committed to providing its members with the latest health, safety, economic and policy information regarding the coronavirus pandemic. To better manage the growing number of resources, ABC updated its Coronavirus Update webpage to simplify and improve navigation, with topics and resources organized in four different categories: Employer Resources, Employee Resources, National Markets and State & Local Markets.
Today’s spotlight is Employer Resources—visit it today!
PPP Safe Harbor Date Extension & ABC Guidance Provides Additional Clarification on Good-faith Certification:
Late last night, the SBA extended the safe harbor date for returning PPP loans until Monday, May 18, through a new PPP FAQ. This followed an FAQ released on the good-faith certification, which clarifies that borrowers with loans of less than $2 million are deemed to have made the certification in good faith, and provides additional guidance on SBA reviews for borrowers with loans of more than $2 million. Full FAQ is also below.
ABC recently released a statement calling for additional clarification and consistent guidance from the SBA to provide certainty for employers. While the new guidance alleviates some concerns, particularly for those businesses with loans under $2 million, ABC would welcome additional clarification on “access to liquidity” as referenced in the previous FAQs and IFR, and will be submitting comments to SBA to address these concerns. Further, ABC continues to push for clear guidance on the forgiveness of PPP loans to provide additional clarity for employers and will continue to provide updates on these efforts.
House Dems Move Forward with $3 Trillion Spending Bill & Proxy Voting:
Speaker Nancy Pelosi reiterated on a caucus call with House Democrats yesterday that the House will vote Friday on both the proxy voting plan and their $3 trillion coronavirus relief bill, which is largely a messaging bill that has not been negotiated with the Senate or White House. The proxy voting system would only be temporary and one lawmaker could only vote for up to 10 members. The House GOP whip team is formally urging a “no” vote on both the proxy voting plan and the relief bill. Some moderate democrats may oppose the bill, but it is expected to pass with mainly Democratic support in the House.
Republicans Win Special Elections Amid Pandemic:
On May 12, two special elections were held in Wisconsin’s 7th and California’s 25th congressional districts, each won by the respective Republican candidate. Early in the vote tallying process, the election for Wisconsin’s 7th district was called for state Sen. Tom Tiffany over Democrat Tricia Zunker by the vote of 57% to 42%; replacing former Rep. Sean Duffy (R). Although the seat was expected to remain firmly in Republican hands, the large margin of victory was encouraging for Wisconsin Republicans, as both ABC PAC and the ABC Wisconsin chapter endorsed now-Rep-elect Tiffany earlier this year before the northern-Wisconsin based seat’s primary election. Upon Rep-elect Tiffany’s election, ABC Wisconsin released the following statement:
“On behalf of the nearly 900 hard-working ABC of Wisconsin member companies literally building Wisconsin, congratulations to State Senator Tom Tiffany for his election to Congress,” Mielke said. “His willingness in the state legislature to champion reforms like prevailing wage repeal, project labor agreement neutrality, and right to work will be a great addition to Wisconsin’s congressional delegation.”
In what was expected to be a much closer race for Southern California’s 25th congressional district, Republican candidate Mike Garcia scored an impressive victory over Democrat Kristy Smith by an unofficial 56% to 44% margin. Despite thousands of ballots still to be received and counted in the California election, Smith, a Democratic state Assemblywoman, conceded defeat to Garcia, a retired Navy fighter pilot. Rep-elect Garcia will head to Washington to fill the seat that scandal-ridden Rep. Katie Hill (D) resigned from late last year. Rep-elect Garcia was endorsed by ABC PAC and the ABC Southern and Central California Chapters, and even headlined the first virtual ABC PAC virtual meet and greet ahead of the election.
The Garcia win is big for the national Republican Party at a time when it needed to score a victory. Winning a seat in California, where President Trump is extremely unpopular (in CA-25, Hillary Clinton’s winning margin was 50-44%, after Republicans at the congressional level had carried the seat consecutively from 1992 until 2018) is a boost for them nationally and should help with fundraising and candidate enthusiasm. Garcia’s success also dispels theories of relative performance disparity favoring Democrats in mail-in ballot elections, which will bolster Republican’s confidence heading into an uncertain summer and fall.
With the conclusion of these two special election races, three US House vacancies remain, two of which will likely stay without representation for the remainder of the current Congress. New York’s 27th CD will be filled in a special general election on June 23rd.
New York Issues Interim Guidance For Construction:
New York issued interim guidance for construction activities during the COVID-19 public health emergency to provide owners/operators of construction projects and their employees and contractors with precautions to help protect against the spread of COVID-19 as indoor and outdoor construction sites reopen. You may view the guidance here.
Coping with COVID-19 Webinar: SBA Updates on CARES Act Programs to Help Small Businesses and Private Non-Profits:
Get answers to questions like these...Which SBA programs do I qualify for through the CARES Act and how can they help me sustain my operations? What are my options if I'm a sole proprietor or an independent contractor? What is the status of the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) / EIDL Advance program? Who can help me develop, adjust, or rework my business plan?
Friday, May 15, from 2:00 pm to 3:00 pm (EDT)
STEP 1: Dial into the conference.
Dial-in: 1-877-369-5243 or 1-617-668-3633
Enter Access Code: 0172365##
STEP 2: Join the conference on your computer.
Entry Link: https://ems8.intellor.com/login/826109