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Congress Closing in on Additional COVID-19 Relief

As of the morning of Dec. 17, Congress has yet to reach a final deal on the next COVID-19 relief package and omnibus government funding bill, but leadership worked through the night and has reportedly made significant progress. All signs point to a deal on Friday or over the weekend, averting a government shutdown and providing some COVID-19 relief for the next several months.

The basis of the COVID-19 relief bill is likely the bipartisan legislative text assembled by the "Gang of Eight." This is expected to change slightly, but the parts most important to NACM are unlikely to shift much. Key parts of the COVID-19 relief bill important to NACM members include:

  • No additional debt collection provisions, nor an extension of the small business collections relief included in the CARES Act (which expires in March).
  • Additional funding and the opportunity for a second Paycheck Protection Loan, although criteria is expected to be much more stringent this round.
  • Possible liability relief to protect businesses that operate responsibly.

PACE LLP is NACM's Washington, D.C., lobbyist on federal issues that impact the business credit community.

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