Coronavirus Response Efforts Update (4/29/2020)

Joint Statement by Secretary Steven T. Mnuchin and Administrator Jovita Carranza on the Review Procedure for Paycheck Protection Program Loans (HERE)

• “The Paycheck Protection Program is providing critical support to millions of small businesses and tens of millions of hardworking Americans…We have noted the large number of companies that have appropriately reevaluated their need for PPP loans and promptly repaid loan funds in response to SBA guidance reminding all borrowers of an important certification required to obtain a PPP loan.  To further ensure PPP loans are limited to eligible borrowers, the SBA has decided, in consultation with the Department of the Treasury, that it will review all loans in excess of $2 million, in addition to other loans as appropriate, following the lender’s submission of the borrower’s loan forgiveness application.  Regulatory guidance implementing this procedure will be forthcoming…We remain fully committed to ensuring that America’s workers and small businesses get the resources they need to get through this challenging time.”

Use IRS Non-Filers: Enter Payment Info Here tool to get Economic Impact Payment; many low-income, homeless qualify (HERE)

• The Internal Revenue Service today reminds low-income Americans to use the free, online tool Non-Filers: Enter Payment Info Hereto quickly and easily register to receive their Economic Impact Payment. The IRS has recently released a new Spanish language version of the tool to help even more Americans get their money quickly and easily.

Marines, NYPD Officers Unite to Fight COVID-19 (HERE)

• As the COVID-19 pandemic spread across the world, New York City took a hard hit. In need of relief, the city turned to the United States military for support.