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March 26, 2020 | H.R. 748

Airlines

  • $25 billion in grants and $25 billion in loans to the aviation industry
  • A requirement that airlines maintain payroll, wages and hours through at least September
  • Includes language that protects collective bargaining agreements from forced changes if an airline receives aid
  • Prohibits airlines from raising executive pay or engaging in stock buybacks or dividends through September 2021
  • This will keep thousands of CWA members employed through a crushing blow to the industry

Health Care Investments

  • Includes a large investment in hospitals, health system and state and local governments in this agreement, to give them the resources they desperately need during this emergency
  • $100 billion for grants to hospitals to cover the costs of unreimbursed health care treatment during the crisis
  • $1.5 billion to state and local governments for the purchase of Personal Protective Equipment and other supplies
  • $16 billion for the Strategic National Stockpile for critical medical supplies, personal protective equipment, and life-saving medicine
  • $3.5 billion to advance construction, manufacturing, and purchase of vaccines and therapeutics
  • Provides $1 billion in funding to purchase supplies through the Defense Production Act

Tax Credits for Companies Maintaining Payroll

  • Provides companies with a payroll tax credit of 50% for the first $10,000 of wages paid to employees while not actually providing services to the company due to COVID-19 Individual Payments
  • Full one-time payment of $1,200 if available to individuals making up to $75,000 or couples making $150,000, then decreases on a sliding scale
    • Payments are only to those with social security numbers and those who filed a 2018 tax return
  • Another credit of $500 per child is also included Unemployment Insurance
  • Expands and improves the unemployment insurance program to provide much more generous benefits and ensure it covers all workers, whether they work for businesses small, medium or large, along with self-employed and workers in the gig economy
  • Unemployment checks will be increased by $600/week for four months
  • Provides 13 extra weeks of unemployment for workers who remain unemployed after their benefits run out due to the pandemic

Mortgage/Rental Assistance

  • Prohibits foreclosures on federally-backed mortgage loans for 60 days
  • Provides up to 180 days of forbearance for borrowers of a federally-backed mortgage loan who have experienced a financial hardship related to the COVID-19 emergency.
  • Prohibits eviction proceedings from starting for 120 days on any federally-backed properties
  • Includes more than $7 billion for affordable housing and homelessness aid programs
  • Any lender who agrees to forbearance or modification as the result of the crisis is required to submit a borrower’s status as “current” to credit reporting agencies so that borrowers don’t face harm to their credit as a result of this relief

Student Loans

  • Eliminates income tax on student loan repayment assistance by an employer
  • Waives the institutional matching requirement for campus-based aid programs
  • Makes changes to work study, Pell Grants, and federal student loans to ensure that students are not penalized financially or in terms of eligibility if they are unable to complete their academic year due to the crisis
  • Defer student loan payments, principal, and interest for 6 months for federal student loan borrowers

State/Local Government Assistance

  • Contains a number of other forms of assistance in addition to hospital/health care investments
  • $30.75 billion in grants to help local school systems
  • Those funds are in addition to a $150 billion fund to States, Territories, and Tribal governments to use for expenditures incurred due to the public health emergency with respect to COVID-19 in the face of revenue declines, allocated by population proportions, with a minimum of $1.25 billion for states with relatively small populations

Additional Corporate Aid

  • Much of the attention on this bill has gone to the direct aid to large corporations
  • The bill still includes $500 billion in assistance to companies (including the airline aid), but there are now additional conditions put on these loans and loan guarantees
  • Bans stock buybacks and dividend payments for the term of the government assistance plus 1 year on any company receiving a government loan from the bill;
  • Requires all loan recipients to keep at least 90% of employees on payroll
  • Includes language that protects collective bargaining agreements from forced changes
  • Only companies who have the majority of their employees in the U.S. will be eligible
  • Caps executive pay at companies that receive assistance under the bill
  • Requires weekly public reporting
  • Prohibits businesses controlled by the President, Vice President, Members of Congress, and Cabinet Members from receiving loans or investments from Treasury programs.
  • While insufficient, these conditions make it more likely that the aid will actually protect workers and jobs.

Elections

  • $400 million in election assistance for the states to help prepare for the 2020 election cycle, including to increase the ability to vote by mail, expand early voting and online registration, and increase the safety of voting in-person by providing additional voting facilities and more poll- workers.

This is Good for working people.

Vote result:
Passed

YEAs: 96 | NAYs: 0
Legislator Sort descending State Party Vote
Sen. John Cornyn TX Republican Yes
Sen. Catherine Cortez Masto NV Democrat Yes
Sen. Tom Cotton AR Republican Yes
Sen. Kevin Cramer ND Republican Yes
Sen. Michael D. Crapo ID Republican Yes
Sen. Ted Cruz TX Republican Yes
Sen. Steve Daines MT Republican Yes
Sen. Tammy Duckworth IL Democrat Yes
Sen. Richard J. Durbin IL Democrat Yes
Sen. Michael B. Enzi WY Republican Yes
Sen. Joni Ernst IA Republican Yes
Sen. Dianne Feinstein CA Democrat Yes
Sen. Deb Fischer NE Republican Yes
Sen. Cory Gardner CO Republican Yes
Sen. Kirsten E. Gillibrand NY Democrat Yes
Sen. Lindsey Graham SC Republican Yes
Sen. Charles E. Grassley IA Republican Yes
Sen. Kamala Harris CA Democrat Yes
Sen. Margaret Hassan NH Democrat Yes
Sen. Joshua Hawley MO Republican Yes
2020 Senate Key Votes
  1. Confirmation of Janet Yellen as the Secretary of the Department of Treasury
  2. Freedom to Vote: John R. Lewis Act
  3. NLRB Joint Employer Congressional Review Act
  4. Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act
  5. Equality Act
  6. Protecting the Right to Organize Act - Motion to Recommit
  7. American Rescue Plan Act
  8. Protecting the Right to Organize Act
  9. For the People Act
  10. Protecting the Right to Organize Act
  11. Raise the Wage Act
  12. Families First Coronavirus Response Act
  13. Expanding Access to Capital Act
  14. CARES Act
  15. Confirmation of Nicole Berner to U.S. Circuit Judge for the Fourth Circuit
  16. Families First Coronavirus Response Act
  17. Paycheck Fairness Act
  18. American Rescue Plan Act
  19. For the People Act
  20. Congressional Review Act
  21. Confirmation of Katherine Tai as the United States Trade Representative
  22. Confirmation of Marty Walsh as the Secretary of the Department of Labor
  23. Confirmation of Ketanji Brown Jackson to Associate Justice of the Supreme Court
  24. Paycheck Fairness Act
  25. Congressional Review Act
  26. Default on America Act
  27. Confirmation of Gwynne A. Wilcox to the National Labor Relations Board
  28. Equality Act
  29. Paycheck Fairness Act
  30. For the People Act
  31. John Lewis Voting Rights Advancement Act
  32. CHIPS and Science Act
  33. Confirmation of Jennifer Abruzzo as NLBR General Counsel
  34. Confirmation of Gwynne Wilcox as Member of the NLRB
  35. Confirmation of David Prouty as Member of the NLRB
  36. Infrastructure Investment and Jobs Act (IIJA)
  37. Inflation Reduction Act
  38. DISCLOSE Act
  39. DISCLOSE Act
  40. Infrastructure Investment and Jobs Act (IIJA)
  41. Build Back Better Act (BBB)
  42. CHIPS and Science Act
  43. Inflation Reduction Act
  44. CARES Act