Tonight, the Democratic-led U.S. House of Representatives is expected to vote on passage of a $3 trillion COVID-19 relief aid package titled the HEROES Act. While the Republican-led Senate and the White House have indicated they are not interested in passing another COVID-19 relief package yet, there will likely be some key components of the current bill that arts advocates would like to see survive a negotiated House-Senate relief compromise package. You can weigh in now by sending a message to your Congressional delegation.
The highlights below of the HEROES Act gives some indication how a future relief package could support the arts sector. Key provisions include:
$875 billion in funding to state and local governments to offset the revenue shortfalls in their budgets in order to retain employees and programs.
$90 billion for grants to States to support statewide and local funding for elementary and secondary schools.
Extension of weekly $600 Federal Pandemic Unemployment Compensation for W2 and Self-employed workers from July 31, 2020 to January 31, 2021.
Changes to Payroll Protection Program (PPP), repealing the 75% payroll/25% overhead requirement for forgiveness and setting up a dedicated fund for nonprofit organization PPP loans with existing funds.
$10 billion added to the SBA’s Emergency Injury Disaster Loan (EIDL) program.
$10 million added each to the National Endowment for the Arts (NEA) and National Endowment for the Humanities (NEH) and $5 million to the Institute of Museum and Library Services (IMLS).
$5 billion added to the Community Development Block Grant (CDBG) program.
Federal Reserve’s Main Street Lending Program would now include specific eligibility to nonprofit organizations for low cost loans. Those nonprofits ineligible for PPP can have these Main Street Loans forgiven.
Those nonprofits who are Unemployment Self-Insured Employers would no longer have to pay 100% of the unemployment compensation and wait for 50% CARES Act reimbursement. States would instead be instructed to only collect half of the unemployment compensation payment.
We continue to monitor the fluid situation and will send more information as it becomes available. Thank you for taking two minutes to contact your member of Congress to make your voice heard!
