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COVID-19: Impacts to Transportation & Logistics

Date: 26 March 2020

The search for legislative solutions to the global COVID-19 outbreak continued this week, as Congress attempted to provide stability to a staggering economy, and stimulate growth for the multitude of sectors affected by the economic halt. After a tumultuous week of negotiations, highlighted by contentious Senate floor debates and multiple closed-door meetings between Secretary Mnuchin and Senate leadership, lawmakers agreed to the framework for a third COVID-19 stimulus package early Wednesday morning. After repeated failed attempts to secure enough votes for a stimulus bill driven by Majority Leader McConnell, House Democrats countered with a competing $2.5 trillion bill of their own, before finally signaling support for H.R. 748, the Coronavirus Aid, Relief, and Economic Security Act. The Senate advanced the bill late Wednesday evening by a unanimous 96-0 vote. The House is hoping to clear the bill by voice vote on Friday.

Notably, the proposed bill would include: direct payments to individual taxpayers, expansion of unemployment benefits, $349 billion for a small-business interruption loan program, and $500 billion for the Department of Treasury’s Exchange Stabilization Fund, which will provide loans, loan guarantees, and other investments to distressed facilities.

Click here to read the full alert.

Mark Ruge
Mark Ruge
Washington DC
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Elle M. Stuart
Elle M. Stuart
Washington DC
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Brody Garland
Brody Garland
Washington DC
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