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Pandemic Economic Stimulus: Legislative and Regulatory Developments As of May 14, 2021

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Pandemic Economic Stimulus: Legislative and Regulatory Developments As of May 14, 2021 PANDEMIC ECONOMIC STIMULUS: LEGISLATIVE AND REGULATORY DEVELOPMENTS AS OF MAY 14, 2021 Client Advisories Hughes Hubbard & Reed LLP • A New York Limited Liability Partnership One Battery Park Plaza • New York, New York 10004-1482 • +1 (212) 837-6000 Attorney advertising. Readers are advised that prior results do not guarantee a similar outcome. No aspect of this advertisement has been approved by the Supreme Court of New Jersey. For information regarding the selection process of awards, please visit https://www.hugheshubbard.com/legal-notices- methodologies. May 14, 2021 – Over the last two weeks, bills were introduced in Congress that propose to make certain non- prot child care providers eligible for Small Business Administration loans, raise caps on the value of government contracts sole-sourced to small businesses, and reallocate funds from federal stimulus programs to a range of infrastructure projects. There were no regulatory developments of note this week relating to the pandemic. Fiscal Stimulus Legislative Proposals H.R. 3155, S. 1587: Small Business Child Care Investment Act On May 12, Representatives Susie Lee (D-NV) and Pete Stauber (R-MN), in conjunction with Senators Jacky Rosen (D-NV) and Joni Ernst (R-IA), introduced bipartisan legislation that would make certain non-prot child care providers eligible to participate in all loan programs available through the Small Business Administration (SBA). Press release H.R. 3065: Expanding Contracting Opportunities for Small Businesses Act On May 7, Representatives Maria Salazar (R-FL) and Marie Newman (D-IL) introduced legislation that would raise caps on sole-source contracting for small businesses through the Small Business Administration (SBA) from $5 million to $8 million for general contracts and from $7 million to $10 million for manufacturing contracts. In a press release, Representative Salazar stated that the purpose of the legislation is to encourage more small contractors to participate in government-aid programs during the COVID-19 pandemic. Press release Pandemic Economic Stimulus: Legislative and Regulatory Developments as of May 14, 2021 1/3 H.R. 2962: America’s Infrastructure Modernization (AIM) Act On May 4, Representatives Lauren Boebert (R-CO), Louie Gohmert (R-TX), Paul Gosar (R-AZ) and Scott Perry (R- PA) introduced legislation to modify President Biden’s proposed $2.3 trillion dollar infrastructure plan. The legislation would redirect $650 billion from the American Rescue Plan, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and the Paycheck Protection Program and Health Care Enhancement Act, among other programs, to a variety of infrastructure projects, including improvements to surface transportation, ports, and airports. Press release Text of bill Regulatory Developments Relating to the Pandemic There are no regulatory updates of note relating to the pandemic. Click here to go to our COVID-19 Resource Center for more advisories, articles and other content related to the coronavirus pandemic. Related People Philip A. Giordano Andrew H. Braiterman Spencer L. Harrison Alan Kravitz Alexandra Poe Charles A. Samuelson Related Areas of Focus Corporate Tax Employment & Unfair Competition Employee Benets & Executive Compensation Pandemic Economic Stimulus: Legislative and Regulatory Developments as of May 14, 2021 2/3 Pandemic Economic Stimulus: Legislative and Regulatory Developments as of May 14, 2021 3/3.
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