Taft Stettinius & Hollister
With the Small Business Administration s (SBA) announcement late last week in a Senate hearing that it plans on rolling out the Restaurant Revitalization Grant (RRG) Program.
Jones Day
On January 1, 2021, the U.S. Congress enacted the most significant reforms to U.S. anti-money laundering laws in decades.
Cadwalader, Wickersham & Taft LLP
A federal court in the District of Massachusetts authorized the IRS to serve a John Doe summons on a Boston-based digital currency exchanger seeking information about as yet unidentified U.S. taxpayers who, from 2016 to 2020.
Taft Stettinius & Hollister
The Small Business Administration (SBA) announced on March 15, 2021, that it will defer repayments of Economic Injury Disaster Loans (EIDL) for 24 months for loans made in 2020.
Congressional leaders meet on government funding, COVID relief
House Speaker Nancy Pelosi, D-Calif., Senate Majority Leader Mitch McConnell, R-Ky., House Minority Leader Kevin McCarthy, R-Calif., and Senate Minority Leader Chuck Schumer, D-N.Y., met Tuesday afternoon to discuss federal government funding and coronavirus pandemic relief with the hopes of reaching a deal to pass an omnibus with relief provisions attached before current funding expires Friday.
Prior to the leaders’ meeting, the bipartisan group of senators that had renewed coronavirus relief discussions earlier this month released the text of their proposal, separated into two packages: $748 billion with spending and relief provisions for small business lending, education, vaccines, transportation and more, and $160 billion with more controversial provisions sought by each party. This proposal is being used as the foundation of negotiations.
The Senate Friday passed two important pieces of legislation: A continuing resolution to extend federal government funding to Dec. 18 and the fiscal year 2021 National Defense Authorization Act (NDAA). While President Donald Trump signed the funding bill to avert a shutdown, he has threatened to veto the NDAA; however, the NDAA passed both chambers by veto-proof majorities.
Government funding was set to expire at midnight Friday, but the continuing resolution was passed to give negotiators additional time to reach an agreement on a longer-term funding deal. Negotiations also continue on additional coronavirus relief provisions after a bipartisan package was recently introduced, some of which could be added to the larger funding package.