WASHINGTON–Both the House and Senate are in recess this week, but discussions remain ongoing between the administration and Congress over a new relief package and stimulus funds in response to the coronavirus pandemic.
Noting it “remains to be seen” what might come out of any talks, CUNA’s chief advocacy office, Ryan Donovan, said the trade group is looking to remain engaged and will continue to focus on its priorities in any legislative package, including:
- Extension of the CARES Act provisions for CUs
- Relief around troubled debt restructurings
- Extension of an expanded Central Liquidity Facility
- Making the PPP loan forgiveness process simpler
- Flexibility around Prompt Corrective Action
- Liability protections for PPP lenders
House Speaker Nancy Pelosi (D-CA) has indicated the House could be called on to act again as it seeks to push through a relief package. The Senate schedule has been complicated by hearings related to the new Supreme Court nominee and by several members testing positive for COVID-19.