Paycheck Protection Program: New Funding
Last week, MBA asked each of our clients to contact your Senators and Representatives to ask them to provide additional funding for the Paycheck Protection Program (PPP).
The pressure from small businesses like yours worked and today the Senate passed the Paycheck Protection Program and Health Care Enhancement Act. This bill will provide an additional $310 billion in funding for the PPP, which originally ran out of funds on April 16, 2020.
The bill now moves to the House, which is expected to vote on Thursday, and then it will go to the President, who is expected to sign it. The text of the bill will be released soon. Additional details to come.
Additional DOL and IRS FFCRA FAQs
The Department of Labor (DOL) continues to add additional FAQs about the new federal emergency paid sick leave and emergency FMLEA paid leave. The new FAQs answer additional questions such as how to calculate rate of pay for employees who work irregular schedules and whether employees on workers’ compensation can receive federal paid sick leave (The answer is maybe). All of the DOL FAQs can be found here.
Not to be left out, the IRS also issued one new FAQ regarding FFCRA for healthcare providers, which can be found here.
Florida Reemployment Resource
The state of Florida released a new COVID-19 resource guide, which explains the reemployment process and provides guidance for common issues with its platform. That guide can be found here.
The coronavirus has created many issues for employers to navigate. You can find MBA’s updates on these issues by going here. MBA will continue to update you as the coronavirus pandemic continues to impact employers.