New Information for Government Contractors on Relief Measures

Government_small_business_relief
Government_small_business_relief

We at OST are committed to providing the latest news and developments to help you as a government contractor to weather the pandemic.

Here is some useful information.

The Senate passed H.R. 748 last night – the third bipartisan COVID-19 relief bill. The House is expected to vote on the legislation on Friday. Below are all of the bill documents in one place:

Final bill text – H.R. 748: Coronavirus aid, Relief and Economic Security (CARES) Act

  • Legislation breakdowns from Committees:

Small Business Committee

The Keeping American Workers Paid and Employed Act would provide $377 billion to help prevent workers from losing their jobs and small businesses from going under due to economic losses caused by the COVID-19 pandemic. The Paycheck Protection Program would provide 8 weeks of cash-flow assistance through 100 percent federally guaranteed loans to small employers who maintain their payroll during this emergency.”

Appropriations Committee

This comprehensive package brings to bear the full resources of the federal government to protect the health and well-being of all Americans. More than 80% ($274.231 billion) of the total $339.855 billion provided in the coronavirus emergency supplemental appropriations package goes to state and local governments and communities. Highlights include:

  • $117 Billion for Hospitals and Veterans Health Care
  • $45 Billion for the FEMA Disaster Relief Fund
  • $16 Billion for the Strategic National Stockpile
  • $4.3 Billion for the Centers for Disease Control
  • $11 Billion for Vaccines, Therapeutics, Diagnostics, & Other Medical Need”

Finance Committee

Important information from the finance committee:

  • Section-by-section summary for unemployment insurance, tax policy
  • Section-by-section summary for health policy
  • Important federal contracting provision

Additional resources from our team:

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