|The Chamber has launched a virtual portal for employers to submit questions relating to COVID-19 and its impact on business. Responses are posted at madisonbiz.com/covid19faq.
Submit questions about the CARES Act, Gov. Evers' "Badger Bounce Back" plan, availability of assistance for your business and more by visiting Slido.com and entering the event code #ASK4BIZ (or simply click here to go directly to the page). Questions can also be submitted via email at email@example.com.
Good evening --
Here are the latest updates on the COVID-19 outbreak and our organizational efforts to inform and ensure an effective community response.
Today's highlights include a preview of tomorrow's Lunch(UP)date, the latest on the Paycheck Protection Program and other relief programs, and a reminder of what makes Greater Madison special.
VIDEO: FOR YOU. FOR US. FORWARD.
During the COVID-19 outbreak, the Chamber has been focused on the three phases of response: relief, reopening and recovery. We are still in relief mode, but we have our eyes toward reopening and recovery while not losing sight of opportunities to reconnect.
To that end, our organization is creating content designed to offer hope and encouragement that although we are challenged, we are still seeking and always moving forward.
Today, we released the below video, the first in a series of short vignettes called: “For You. For Us. Forward.” Additional videos will be released as we move toward reopening and recovery.
Click on the image below to view the video. You can also view, share, like and retweet the video on our Facebook, Twitter, LinkedIn and Instagram pages.
LUNCH(UP)DATE WITH DR. ALAN KAPLAN
Join us tomorrow (Friday, April 24) from 12:15 to 1:00 p.m. for the latest edition of Lunch(UP)date, the Chamber's weekly program where you can take a break and enjoy lunch while staying connected, curious and informed.
This week's guest is Dr. Alan Kaplan, Chief Executive Officer of UW Health. The conversation will focus on the latest news and updates regarding our community's response to COVID-19 from the healthcare perspective.
Register here. Submit in advance any questions you have for Dr. Kaplan or the Chamber to firstname.lastname@example.org.
PAYCHECK PROTECTION PROGRAM UPDATE
Moments ago, the U.S. House of Representatives passed the $484 billion Paycheck Protection Program and Health Care Enhancement Act by a 388-5 vote (one member voted "present"), two days after it passed the U.S. Senate by voice vote. The bill provides emergency funding to bolster the Paycheck Protection Program (PPP) and now goes to President Trump for his signature.
Some highlights include:
As U.S. Sen. Tammy Baldwin mentioned in last week's Lunch(UP)date, Congress is eyeing an additional federal relief package in May.
- $310 billion for the depleted Paycheck Protection Program, with $60 billion set aside for underbanked businesses. Funding for underbanked businesses includes:
- $30 billion for Community Financial Institutions, Small Insured Depository Institutions and Credit Unions with less than $10 billion in assets; and
- $30 billion for Insured Depository Institutions and Credit Unions who have between $10 and $50 billion in assets.
- $60 billion for the SBA's depleted Economic Injury Disaster Loan program, with $10 billion going toward cash grants
- $75 billion for hospitals
- $25 billion for COVID-19 testing, with $11 billion going to states
For additional information about the PPP and other business relief options, click here.
VIRTUAL INDUSTRY MEETING RECAP
This week, the Chamber hosted a Virtual Industry Meeting with insurance leaders, who assessed current needs for their businesses and shared projections for the three phases of responding to the COVID-19 outbreak: relief, reopening and recovery.
Participants said they are experiencing a successful transition to a remote workforce and are seeing good productivity. The biggest need they expressed is for more clarity on the plan for reopening. There was also discussion on the differences in geography and the desire for more transparency with how businesses begin to reopen.
Similarly, there is a great need to support small businesses with best practices. While federal relief programs are helping in the short term, leaders say there will need to be more guidance and support in the months ahead.
We have also convened lenders, developers and commercial property owners as part of our Virtual Industry Meeting series to help inform our advocacy. Please continue to share with us any policy ideas and recommendations.
PANDEMIC UNEMPLOYMENT ASSISTANCE
Pandemic Unemployment Assistance (PUA), a new temporary federal program, is now available for self-employed individuals, independent contractors and others who are otherwise ineligible for regular unemployment insurance. Benefits are retroactive to Feb. 8 and payable for up to 39 weeks.
An overview of the PUA program can be found here. For more on PUA eligibility criteria, click here.
For a full archive of previously shared resources, visit madisonbiz.com/covid19.
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