uodsp: FW: Coronavirus relief bill: What it means for you, your family, and your business

Heidi von Ravensberg hvr at uoregon.edu
Wed Apr 1 12:30:57 PDT 2020


Read on for important information.

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Heidi von Ravensberg, JD, MBA | List Master | hvr at uoregon.edu<mailto:hvr at uoregon.edu>
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From: Congressman Peter DeFazio <or04ima at mail.house.gov>
Sent: Wednesday, April 1, 2020 8:56 AM
To: Heidi von Ravensberg <hvr at uoregon.edu>
Subject: Coronavirus relief bill: What it means for you, your family, and your business

A Message from Congressman Peter DeFazio‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌
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Dear Ms. Heidi von Ravensberg,

Last week, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. While this bill is not perfect, the relief in this package flows to workers first, not last – and it makes clear to any industry getting relief: no stock buybacks, no executive giveaways, no layoffs. Putting working people and families first is how we as a country can get back on our feet, and prioritizing their needs over the profits of giant corporations is how we build an economy that works for everyone – not just a wealthy few.

To help Oregonians navigate the resources that are available to them, you will find information on the following below:

1.     Direct cash payments;
2.     Expanded unemployment insurance;
3.     Aid to small businesses;
4.     Assistance for homeowners and renters; and
5.     Student loan debt relief.

As Oregon state officials and the federal government work quickly to implement the changes enacted in the CARES Act, I will provide regular updates and share resources as they become available on my website<https://urldefense.com/v3/__https:/iqconnect.lmhostediq.com/iqextranet/iqClickTrk.aspx?&cid=OR04PD&crop=13410.8935297.3683558.818783&report_id=&redirect=https*3a*2f*2fdefazio.house.gov*2fcoronavirus-recovery-resources&redir_log=508939481289405__;JSUlJQ!!C5qS4YX3!RThMImL7i-3mOcWQMU-y_SSyrLZPqBW5bKXl7nYvNRNRHl4ZTXVSmYVvdTKrvzE$>. If you have any additional questions and need any assistance, please contact me on my website<https://urldefense.com/v3/__https:/iqconnect.lmhostediq.com/iqextranet/iqClickTrk.aspx?&cid=OR04PD&crop=13410.8935297.3683558.818783&report_id=&redirect=https*3a*2f*2fdefazio.house.gov*2fcontact*2femail-peter&redir_log=651063074908318__;JSUlJSU!!C5qS4YX3!RThMImL7i-3mOcWQMU-y_SSyrLZPqBW5bKXl7nYvNRNRHl4ZTXVSmYVvfaaEfps$>.

In the meantime, Congress has begun working on a potential fourth relief bill. In my view, this must provide more relief to individuals, especially those who should have benefited more from the CARES Act; boost funding to our state and local governments, especially our smaller and rural localities; address any shortcomings in aid to small business relief; additional support for  hospitals, providers, and healthcare workers to ensure they get the supplies they need; provide the U.S Postal Service funds needed so  they can continue providing their essential services; and more.

Congress must also pass a true stimulus that creates jobs and rebuilds our decaying infrastructure. In the coming days and weeks, I will double down on an infrastructure package that repairs the breach left by years of neglect—that rebuilds failing bridges, restores crumbling highways, and puts people to work on projects with jobs that cannot be exported.

Direct Cash Payments to Oregonians

Given that millions of Americans are experiencing serious financial strain due to the COVID-19 outbreak, the CARES Act includes direct cash payments to provide individuals across the country with some relief. I am in touch with the Treasury Department and the Internal Revenue Service (IRS) to make sure they get these payments out as quickly and efficiently as possible so Oregonians can access this funding as soon as possible.

For the most up to date information, the IRS advises individuals to keep checking its Coronavirus Tax Relief page<https://urldefense.com/v3/__https:/iqconnect.lmhostediq.com/iqextranet/iqClickTrk.aspx?&cid=OR04PD&crop=13410.8935297.3683558.818783&report_id=&redirect=https*3a*2f*2fwww.irs.gov*2fcoronavirus&redir_log=436243753174225__;JSUlJQ!!C5qS4YX3!RThMImL7i-3mOcWQMU-y_SSyrLZPqBW5bKXl7nYvNRNRHl4ZTXVSmYVvJjzX79A$> for information once it is available.

Frequently Asked Questions

Am I eligible for a rebate and how much will I get?
Everyone who has a Social Security number and whose income is not above a certain threshold is eligible for a rebate payment. This includes Social Security beneficiaries (retirement, disability, survivor) and Supplemental Security Income (SSI) recipients.

Individuals making up to $75,000 ($150,000 for married couples) will receive $1,200 ($2,400 for married couples) with an additional $500 payment per child under the age of 17, up to $3400 per family. Rebates are reduced by $5 for every $100 of income to the extent a taxpayer’s income exceeds $150,000 for a joint filer, $112,500 for a head of household filer, and $75,000 for anyone else (including single filers).

When and how will the rebates be distributed?
For the majority of Americans, the IRS will issue payments via direct deposit using information from your 2019 tax return (2018 if you haven’t filed your 2019 return yet) or 2019 Social Security statement. Treasury Secretary Mnuchin has said that he would like to send payments out within the next three weeks.

If you have not filed a tax return in 2018 or 2019 and do not receive Social Security benefits, the IRS urges anyone with a tax filing obligation who has not yet filed a tax return to file as soon as they can in order to receive an economic impact payment. Taxpayers should include direct deposit banking information on the return.

The IRS does not have my bank account information. How will I get my money?
If the IRS does not have your bank account information, the Department of Treasury plans to develop a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail.

Do the rebates need to be repaid? Are they taxable? Will they affect my eligibility for means-tested programs?
No, rebates do not need to be repaid, no, they are not taxable, and, no, the rebate is not counted towards eligibility for federal programs.

Are non-filers eligible for rebates?
Yes. There is no earned income requirement to be eligible for a rebate, but people who typically do not file a tax return will need to file a simple tax return to receive an economic impact payment. IRS.gov/coronavirus will soon provide information instructing individuals such as low-income taxpayers, senior citizens, Social Security recipients, some veterans, and individuals with disabilities who are otherwise not required to file a tax return on how to file a simple 2019 tax return, which includes filing status, number of dependents, and direct deposit bank account information.

I’m a college student. Will I receive a check?
If you are claimed as a dependent on another tax return, you’re ineligible. But if you’ve been working and filing taxes independently in recent years, you may qualify.

Unemployment Insurance

Last week, a record 3.3 million people filed for unemployment benefits. As our economy continues to deal with the economic repercussions of the battle against COVID-19, jobless claims will continue to climb. That’s why it’s so important that the CARES Act included significant funding to make critical reforms to and expand the Unemployment Insurance (UI) program in order to help the millions of Americans who are suddenly and unexpectedly out of work.

Unemployment Insurance is administered by the states.  The Oregon Employment Department (OED) provides unemployment insurance benefits to workers who are out of work. OED is working to incorporate these changes into their resource guides and will issue updates about pandemic unemployment assistance and unemployment benefit extensions as soon as they are able.

You can file for a new claim through its Online Claim System<https://urldefense.com/v3/__https:/iqconnect.lmhostediq.com/iqextranet/iqClickTrk.aspx?&cid=OR04PD&crop=13410.8935297.3683558.818783&report_id=&redirect=https*3a*2f*2fsecure.emp.state.or.us*2focs4*2findex.cfm*3fu*3dF20200311A102721B68861123.9417*26lang*3dE&redir_log=316015022414537__;JSUlJSUlJSUl!!C5qS4YX3!RThMImL7i-3mOcWQMU-y_SSyrLZPqBW5bKXl7nYvNRNRHl4ZTXVSmYVvO7maq0Y$>. You can also visit OED’s Frequently Asked Questions<https://urldefense.com/v3/__https:/iqconnect.lmhostediq.com/iqextranet/iqClickTrk.aspx?&cid=OR04PD&crop=13410.8935297.3683558.818783&report_id=&redirect=https*3a*2f*2fwww.oregon.gov*2femploy*2fDocuments*2fCOVID-19*2520OED*2520Resources*2520for*2520Employers*2520and*2520Workers.pdf&redir_log=703950623723684__;JSUlJSUlJSUlJSUl!!C5qS4YX3!RThMImL7i-3mOcWQMU-y_SSyrLZPqBW5bKXl7nYvNRNRHl4ZTXVSmYVvaXAJWu0$> page for more information. The OED has also created the OED_COVID19_Info at oregon.gov email address for coronavirus questions.

Frequently Asked Questions

Am I eligible for unemployment insurance if I am self-employed, an independent contractor, or a “gig economy” worker?
Yes. The CARES Act permits states to expand eligibility to provide Unemployment Insurance benefits to workers who are not normally eligible, so long as their unemployment is connected to the COVID-19 pandemic. Expanded eligibility provides benefits to self-employed individuals, independent contractors, “gig economy” workers, and individuals who were unable to start a new job or contract due to the pandemic.

Individuals should apply for these temporary new federal benefits through the Oregon Employment Department’s Online Claim System.<https://urldefense.com/v3/__https:/iqconnect.lmhostediq.com/iqextranet/iqClickTrk.aspx?&cid=OR04PD&crop=13410.8935297.3683558.818783&report_id=&redirect=https*3a*2f*2fsecure.emp.state.or.us*2focs4*2findex.cfm*3fu*3dF20200311A102721B68861123.9417*26lang*3dE&redir_log=316015022414537__;JSUlJSUlJSUl!!C5qS4YX3!RThMImL7i-3mOcWQMU-y_SSyrLZPqBW5bKXl7nYvNRNRHl4ZTXVSmYVvO7maq0Y$>

How much will my Unemployment Insurance benefits be?
The amount of money you can expect to receive will vary for each individual. The federal government, however, is providing a temporary (available through July 31, 2020) Federal Pandemic Unemployment Compensation (FPUC) of $600 a week for any worker eligible for state or federal UI benefits, meaning every individual will receive at least $600 provided they are eligible for state or federal UI benefits and their unemployment is related to COVID-19. The benefit would be paid in addition to and at the same time as regular state benefits.

Do I have to look for other work if my employer temporarily closes because of the coronavirus?
If your employer expects to re-open in the future, you do not actively have to look for another job to receive benefits. To continue to get UI benefits, you must be able to work, stay in contact with your employer, and be available to work when your employer calls you back to work.

If you are not in contact with your employer, you are currently considered to be actively seeking work if you are doing what you can to be prepared to return to new work or find new employment.

What if I haven’t been laid off, but my hours have been cut?
The CARES Act makes a substantial federal investment in supporting Short-Time Compensation (STC), which allows employers to make an agreement with the state to reduce hours, instead of laying people off, and then have workers receive partial UC benefits for their lost hours. Policies will vary by state.

I am staying home by order of a medical professional or at the direction of the government. Will I be eligible for unemployment benefits?
Generally, yes, you would be considered available for work. If you have turned down work with a new employer, that could affect your benefit eligibility.

My unemployment benefits are about to expire. Are benefit extensions available?
The CARES Act empowered states to provide an additional 13 weeks of unemployment benefits to workers who need it beyond what is provided for in state and federal law. This equates up to 39 weeks of unemployment benefits in total.

Will I be eligible for unemployment benefits if my employer remains open, but I don’t want to come to work because of the risk of exposure to the coronavirus?
You may be eligible for benefits. You can file a claim, and the OED will gather information from you and your employer to see if benefits would apply.

Small Businesses and Employers

The programs and initiatives in the CARES Act are intended to assist small business owners with whatever immediate needs they have to ensure they can keep paying employees and keep their businesses from permanently closing. When implemented, there will be many new resources available through the U.S. Small Business Administration (SBA)<https://urldefense.com/v3/__https:/iqconnect.lmhostediq.com/iqextranet/iqClickTrk.aspx?&cid=OR04PD&crop=13410.8935297.3683558.818783&report_id=&redirect=https*3a*2f*2fwww.sba.gov*2fdisaster-assistance*2fcoronavirus-covid-19*23section-header-1&redir_log=872635129462531__;JSUlJSUl!!C5qS4YX3!RThMImL7i-3mOcWQMU-y_SSyrLZPqBW5bKXl7nYvNRNRHl4ZTXVSmYVvdPtGcIM$> for small businesses, as well as certain non-profits and other employers. If you need any assistance, please contact your local SBA office<https://urldefense.com/v3/__https:/iqconnect.lmhostediq.com/iqextranet/iqClickTrk.aspx?&cid=OR04PD&crop=13410.8935297.3683558.818783&report_id=&redirect=https*3a*2f*2fwww.sba.gov*2fpage*2fcoronavirus-covid-19-small-business-guidance-loan-resources*23section-header-4&redir_log=022403625764703__;JSUlJSUl!!C5qS4YX3!RThMImL7i-3mOcWQMU-y_SSyrLZPqBW5bKXl7nYvNRNRHl4ZTXVSmYVvWeeBOe0$>.

The Senate Small Business Committee has provided an FAQ document<https://urldefense.com/v3/__https:/iqconnect.lmhostediq.com/iqextranet/iqClickTrk.aspx?&cid=OR04PD&crop=13410.8935297.3683558.818783&report_id=&redirect=https*3a*2f*2fdefazio.house.gov*2fsites*2fdefazio.house.gov*2ffiles*2fSmall*2520Business*2520Owners*2520Guide*2520to*2520the*2520CARES*2520Act*2520final.pdf&redir_log=564528409501815__;JSUlJSUlJSUlJSUlJSUl!!C5qS4YX3!RThMImL7i-3mOcWQMU-y_SSyrLZPqBW5bKXl7nYvNRNRHl4ZTXVSmYVvjd88v4g$> to help answer a number of important questions. The following might help point you in the right direction. Do you need:

  *   Capital to cover the cost of retaining employees? Then the Paycheck Protection Program might be right for you.
  *   A quick infusion of a smaller amount of cash to cover you right now? You might want to look into an Emergency Economic Injury Grant.
  *   To ease your fears about keeping up with payments on your current or potential SBA loan? The Small Business Debt Relief Program could help.
  *   Quality, free counseling to help you navigate this uncertain economic time? The resource partners might be your best bet.

For additional information, borrowers should contact the SBA Disaster Assistance customer service center by calling 1-800-659-2955 or emailing disastercustomerservice at sba.gov. You can also visit www.SBA.gov/disaster<https://urldefense.com/v3/__https:/iqconnect.lmhostediq.com/iqextranet/iqClickTrk.aspx?&cid=OR04PD&crop=13410.8935297.3683558.818783&report_id=&redirect=http*3a*2f*2fwww.sba.gov*2fdisaster&redir_log=226550961953193__;JSUlJQ!!C5qS4YX3!RThMImL7i-3mOcWQMU-y_SSyrLZPqBW5bKXl7nYvNRNRHl4ZTXVSmYVvB5tH5fg$> for more information.

Frequently Asked Questions

When should I expect to hear from SBA after submitting an application?
Once a borrower submits an application, approval timelines vary. Typical timeline for approval is 2-3 weeks and disbursement can take up to 5 days. Borrowers are assigned individual loan officers for servicing of the loan.

If small businesses need help with their applications, are there any resources to help?
SBA has also coordinated with the Resource Partners, including Small Business Development Centers, (SBDCs) who can assist with the application process. The list of SBDCs is available online at: https://www.sba.gov/local-assistance/find<https://urldefense.com/v3/__https:/iqconnect.lmhostediq.com/iqextranet/iqClickTrk.aspx?&cid=OR04PD&crop=13410.8935297.3683558.818783&report_id=&redirect=https*3a*2f*2fwww.sba.gov*2flocal-assistance*2ffind&redir_log=671365513594289__;JSUlJSU!!C5qS4YX3!RThMImL7i-3mOcWQMU-y_SSyrLZPqBW5bKXl7nYvNRNRHl4ZTXVSmYVvGn0wb-Q$>

Housing Assistance

The CARES Act includes modest relief for homeowners and renters in federally-backed housing. The bill institutes a 60-day moratorium on foreclosures for any homeowner with a mortgage backed by the Federal Housing Administration (FHA), Department of Veterans Affairs (VA), Department of Agriculture (USDA), 184/184A mortgage, or a mortgage backed by Fannie Mae or Freddice Mac. Those experiencing financial hardship are eligible for up to 6 months’ foreberance on their mortgage payment, with another 6 month extension possible if hardship continues.

Renters who have trouble paying rent also have protections if they live in a property that has a federal subsidy or federally-backed loan. Owners of these properties are barred from filing evictions or from charging fees for nonpayment of rent for 120 days. For those who receive housing subsidies such as public housing or Section 8, if your income has fallen, you should recertify your income with your public housing agency (PHA).

If you are still able to make monthly payments, it is in your best interest to continue doing so. You will have to pay missed mortgage or rental payments after the relief period ends.

Still have additional questions?

Visit the Housing and Urban Development website<https://urldefense.com/v3/__https:/iqconnect.lmhostediq.com/iqextranet/iqClickTrk.aspx?&cid=OR04PD&crop=13410.8935297.3683558.818783&report_id=&redirect=https*3a*2f*2fwww.hud.gov*2fcoronavirus&redir_log=001111102881225__;JSUlJQ!!C5qS4YX3!RThMImL7i-3mOcWQMU-y_SSyrLZPqBW5bKXl7nYvNRNRHl4ZTXVSmYVvXkNxwZE$> regarding coronavirus and how the federal government is seeking to provide relief to those in federally-assisted housing.

Student Loan Relief

The CARES Act provides multiple benefits for your student loans in order to help borrowers impacted by the COVID-19 outbreak. This includes:

  *   Deferring payment of your federal student loans during the public health crisis;
  *   Waiving the accrual of interest on your federal student loans; and
  *   Halting the garnishing of wages, Social Security benefits, and tax refunds for student loan debt collection.

All loans owned by the U.S. Department of Education (ED) are eligible for these benefits through September 30, 2020. That includes Direct Loans, as well as Federal Perkins Loans and Federal Family Education Loan (FFEL) Program loans held by ED. The Department of Education will remind borrowers in August that payment will resume at September’s end.

Please note that some FFEL Program loans are owned by commercial lenders, and some Perkins Loans are held by the institution you attended. These loans are not eligible for this benefit at this time.

If you are pursuing Public Service Loan Forgivess (PSLF), you may already know that you can’t make a qualifying payment for PSLF while your federal student loans are in forbearance. However, the CARES Act makes sure that any federal student loan payments that you skip between now and September 30, 2020, will still count toward the required 120 qualifying payments.

If you can afford to make your loan payments during the COVID-19 national emergency, you may want to continue to do so to pay off as much of your loan as possible while there is a 0 percent interest rate.

I still have additional questions.
Visit the Federal Student Aid website<https://urldefense.com/v3/__https:/iqconnect.lmhostediq.com/iqextranet/iqClickTrk.aspx?&cid=OR04PD&crop=13410.8935297.3683558.818783&report_id=&redirect=https*3a*2f*2fstudentaid.gov*2fannouncements-events*2fcoronavirus&redir_log=45900916016399__;JSUlJSU!!C5qS4YX3!RThMImL7i-3mOcWQMU-y_SSyrLZPqBW5bKXl7nYvNRNRHl4ZTXVSmYVvO7hPB9k$> regarding coronavirus and forbearance info for students, borrowers, and parents.

Looking Ahead

I hope you find these resources helpful and you can be sure I will provide updates as information becomes available. If you have any additional questions or need any assistance, please contact me through my website at defazio.house.gov<https://urldefense.com/v3/__https:/iqconnect.lmhostediq.com/iqextranet/iqClickTrk.aspx?&cid=OR04PD&crop=13410.8935297.3683558.818783&report_id=&redirect=https*3a*2f*2fdefazio.house.gov*2f&redir_log=770459635819181__;JSUlJQ!!C5qS4YX3!RThMImL7i-3mOcWQMU-y_SSyrLZPqBW5bKXl7nYvNRNRHl4ZTXVSmYVvXJ8cn98$>.

Sincerely,

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Peter DeFazio
Join Me On...
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