Problem Solvers Caucus COVID-19 Proposal

There are eight major buckets of the proposal.

  1. Testing & Health Care ($100 billion)
    • $25 billion testing – 3 million tests a day
    • $75 billion health care providers – relief released in CARES Act (health care provider community – forgives advanced Medicare reimbursement $45 million
  2. Direct Assistant/Support for Individuals and Families ($316 billion)
    • $280 billion stimulus
      • Adult dependents would be eligible
      • Same restrictions on income
    • Plus up on WIC, SNAP 
    • Stabilize rental and mortgage market $25 billion
    • Student loan forbearance through December 31st
  3. UI assistance ($120 billion)
    • 100% of income based on 2019 income – but we can go up to $600 for that support
    • 8-week transition period – during that time the plus up will be $450 across the board
    • 13 weeks going through Jan 2021
      • Another 13 weeks may get triggered
  4. Small Businesses Support ($290 billion)
    • PPP $240 billion to SBA
      • Simplified loan forgiveness
      • Full transparency
      • $11 billion carved out for CDFIs
      • $50 billion for EIDL
    • $50 billion targeted ERTC
    • Continued support for the Main Street Lending Program
  5. Schools and Child Care ($145 billion)
    • Use these dollars for all kinds of things
    • $15 billion childcare (30% of annual child care sector revenue)
      • Block grants
      • Dollars for provider relief (child care centers who can return to full capacity)
    • $100 billion K-12 lha
    • $30 billion higher education
  6. State and Local Aid ($500 billion)
    • $130 hard past COVID-19 expenses
    • $130 hard forward looking COVID-19 expenses
    • $250 revenue shortfalls at local
    • $130 – already exists CARES Act funds
  7. Election Aid ($400 million)
    • Poll workers, temporary staffers, polling location PPE, etc.
  8. Miscellaneous
    • $12 billion rural broadband hotspots, particularly under-served rural and urban areas
    • $25 billion agriculture and aquaculture
    • $15 billion USPS and reform of pre-funding requirement
    • Move back timelines on census
    • Liability protections- good-faith companies should not deal with frivolous lawsuits
      • Robust enforcement of worker safety

Automatic Booster and Reducers

  • $1.5 trillion to $2 trillion if needed
  • Down to $1.3 trillion if not
  • Fact based and evidenced based
  • Metrics to determine if booster or reducer trigger:
    • Hospitalization numbers
    • Availability of vaccine

Notes

  • No additional paid leave

Cotton Loan Forfeiture Charges/Procedures for ELS Cotton

Based on recent discussions with USDA officials, there are important clarifications on the charges or fees a producer is responsible for when warehouse-stored Pima cotton is forfeited to USDA. In general, the calculations on cotton forfeiture charges are the same for both Pima and upland cotton. If Pima cotton is forfeited to USDA, the producer is only responsible for paying the difference in the Cotton Storage Agreement (CSA) storage rate for the warehouse and the USDA storage credit for the time the cotton is under loan, not the full storage costs for the time the cotton is under loan. For anytime the cotton is not under loan, the producer is responsible for paying the full warehouse storage rate.

More here.