Below you will find updates that have occurred since our previous announcement.
1. House to take up $2 Trillion Stimulus on Friday
The $2 Trillion COVID-19 relief bill will be voted on by the House of Representatives tomorrow. While CVTA staff is still making our way through the bill, we want to let all know of a provision that provides direct relief to businesses impacted by COVID-19. The bill contains $349 Billion for small business loans that convert to grants if certain conditions are met. The maximum loan amount is calculated by the average monthly totals for payroll for the 1-year prior by 2.5. If a business was not in business, then its average monthly earnings since January 1 times 2.5. The program also allows forgiveness for portions of the loan (payroll, rent, utilities) to a grant if the employer meets certain conditions.
2. REAL ID Extended
In a press release issued on March 26, 2020, the Department of Homeland Security extended the date for REAL ID compliance to October 1, 2021, a year beyond its original timeline of this October this year. Acting Secretary Chad Wolf stated that “federal, state and local response to the spread of the Coronavirus here in the United States necessitates a delay in this deadline. States across the country are temporarily closing or restricting access to DMVs. This action will preclude millions of people from applying for and receiving their REAL ID. Extending the deadline will also allow the Department to work with Congress to implement needed changes to expedite the issuance of REAL IDs once the current health crisis concludes.”
This announcement aligns with a March 16 statement from House Transportation and Infrastructure Committee Chair, Peter DeFazio (D-OR), and others, requesting that DHS delay the compliance date but that did not provide a proposed timeframe.