Tag: pandemic

More than half of emergency small-business funds went to larger businesses, new data shows

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The Trump administration has emphasized PPP loans to small firms, but most of the $522 billion went to a tiny slice of borrowers

More than half of the money from the Treasury Department’s coronavirus emergency fund for small businesses went to just 5 percent of the recipients, according to data on more than 5 million loans that was released by the government Tuesday evening in response to a Freedom of Information Act request and lawsuit.

According to data on the government’s Paycheck Protection Program (PPP), about 600 mostly larger companies, including dozens of national chains, received the maximum amount allowed under the program of $10 million.

Officials from the Treasury Department and the Small Business Administration (SBA) have argued the program primarily benefited smaller businesses because a vast majority of the loans ― more than 87 percent ― were for less than $150,000, as of August. But the new data shows more than half of the $522 billion in the same time frame went to bigger businesses, and only 28 percent of the money was distributed in amounts less than $150,000. Continue reading.

He didn’t take covid-19 seriously. Being hospitalized ‘made a believer’ out of him.

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The coronavirus didn’t seem like a big deal to Craig Buescher at first. Still, he thought he was being careful.

He wore a mask in public — most of the time. He limited his circle of friends, but still saw six or eight people. He largely followed the rules, but admits that he occasionally stretched them.

Buescher was 69 and in good health. Surely, he thought, the virus wouldn’t be that bad if he came down with it. Continue reading.

Health-care workers, nursing home residents should get coronavirus vaccine first, panel says

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NOTE: This article is provided free to all by The Washington Post.

An estimated 20 million health-care workers should get top priority for a vaccine to keep the nation’s hospitals and clinics functioning, an advisory panel to the Centers for Disease Control and Prevention recommended Tuesday.

Biotechnology company Moderna has requested emergency authorization of its experimental vaccine, which means the U.S. government potentially could start distributing two vaccines in the next few weeks. View the post here.

Phillips, Problem Solvers Caucus Push Bicameral, Bipartisan Emergency COVID-19 Relief Package

With endorsements from President-Elect Biden and others, momentum is building for passage

WASHINGTON, D.C. — Today, Thursday, December 3, 2020, Dean Phillips (D-MN) and other members of the Problem Solvers Caucus stood together to fight for their common-sense bipartisan, bicameral COVID-19 emergency relief package. It is being supported by a rapidly growing group of Senators on both sides of the aisle, the U.S. Chamber of Commerce, and others to help American families, small businesses, workers, and health care providers during this crisis.

Leaders in both parties have stated support for the Problem Solvers Caucus’ framework as the basis for immediate bipartisan, bicameral legislation. On Wednesday night, President-Elect Joe Biden announced his support for the plan, calling it a needed “down payment” ahead of more proposed aid under his administration next year.

  • A breakdown of the COVID-19 emergency relief framework can be found here.

“Vision without action is just a daydream, and we have had enough daydreaming in Congress. We need to show Americans and our allies across the world that the great experiment of America still works. The clock is ticking, but we can and must pass the Emergency COVID Relief Framework. Failure is not an option when Americans are suffering,” said Rep. Dean Phillips.

Continue reading “Phillips, Problem Solvers Caucus Push Bicameral, Bipartisan Emergency COVID-19 Relief Package”

Hospitals brace for COVID-19 surge

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Hospitals are facing rising pressure from a surge of coronavirus cases that is threatening to overwhelm their capacity, as the country braces for further escalation following Thanksgiving. 

Over 93,000 people are in the hospital with coronavirus, a record level, and the number is only continuing to rise, according to data from the COVID Tracking Project. 

The country is also recording more than 150,000 new cases every day, and the numbers are likely to only get worse given a burst of gatherings and travel from Thanksgiving.  Continue reading.

Organizer of anti-COVID lockdown rallies in PA tests positive during White House meeting

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On Wednesday, Pennsylvania state senator Doug Mastriano “abruptly left a West Wing meeting with President Donald Trump after being informed he had tested positive for the coronavirus.” This, according to a new Associated Press report, uncovers what seems to be another example of the White House and its literal unhealthy interactions with the world writ large. In fact, the White House and the Trump cabinet might be the single most dangerous public health threat in the country. Mastriano has been a big anti-Democratic governor rights presence, jumping on the “anti-lockdown”movement and frequently showing his dain bramage by refusing to wear a mask during a global pandemic.

According to AP, the PA state senator, his son and “his son’s friend,” were given a test before meeting with Trump in the Oval Office, but were allowed in before the results came through. The positive results came in and the three men were reportedly taken to another area of the White House somehow less infected with COVID-19 than what seems to be the rest of the White House. The meeting seems to have been whatever passes as strategic in the White House’s continued efforts to successfully pull off a coup d’etat.

Mastriano sought the meeting of the Pennsylvania Senate Republican Policy Committee earlier Wednesday that drew Trump personal attorney Rudy Giuliani, a second Trump lawyer, several witnesses and a crowd of onlookers. Only a few of them were masked. Continue reading.

Moderna to apply for emergency use authorization for COVID-19 vaccine candidate on Monday

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Moderna announced that it will apply for emergency use authorization from the U.S. Food and Drug Administration (FDA) for its COVID-19 vaccine candidate on Monday.

The company said in a statement that testing showed its vaccine candidate was 94.1 percent effective in preventing COVID-19 and was 100 percent effective against severe COVID-19.

It also said “no serious safety concerns” have been identified to date. Some trial participants have experienced reactions like pain at the site of the injection or fatigue. Continue reading.

Congress returns with virus aid, federal funding unresolved

WASHINGTON — After months of shadowboxing amid a tense and toxic campaign, Capitol Hill’s main players are returning for one final, perhaps futile, attempt at deal-making on a challenging menu of year-end business. 

COVID-19 relief, a $1.4 trillion catchall spending package, and defense policy — and a final burst of judicial nominees — dominate a truncated two- or three-week session occurring as the coronavirus pandemicrockets out of control in President Donald Trump’s final weeks in office.

The only absolute must-do business is preventing a government shutdown when a temporary spending bill expires on Dec. 11. The route preferred by top lawmakers like House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Mitch McConnell, R-Ky., is to agree upon and pass an omnibus spending bill for the government. But it may be difficult to overcome bitter divisions regarding a long-delayed COVID-19 relief package that’s a top priority of business, state and local governments, educators and others. Continue reading.

250,000 lives lost: How the pandemic compares to other deadly events in U.S. history

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At least 250,000 people in the United States have died of covid-19, the disease caused by the coronavirus, since February, and many public health officials warn the pandemic is just entering its deadliest phase. Yet, as the country confronts this horrifying death toll, there is little understanding of what a loss of this size represents.

Here is some historical perspective about losing a quarter of a million people, looking at major events in our past that have cost American lives.

More than 58,000 Americans were killed during the decade-plus of involvement in the Vietnam War. So the pandemic’s fatalities represent four Vietnam Wars since February. Continue reading.

Small businesses that took PPP aid may face a tax problem

A recent IRS ruling tying up a loose end in the 2020 economic-relief law could force many small businesses to pay taxes on government aid meant to help through the pandemic.

The agency on Nov. 18 said the businesses cannot deduct expenses such as payroll and rent, paid for with money from the Paycheck Protection Program of the CARES Act. Such deductions are common when those expenses are paid for with revenue from running a business.

The ruling hardened a divide between the Trump administration and the main tax writers in Congress, who have sought since the corona­virus outbreak produced an economic slowdown to ensure that aid to businesses not be taxed. Continue reading.