News & Insights
Proposed HEROES Act
Today, House Democrats released the Health and Economic Recovery Omnibus Emergency Solutions Act, or “HEROES Act” which proposes spending of more than $3 trillion in additional COVID-19 relief. The sprawling legislation totals nearly 2,000 pages and can be found here. A summary of the House Democrats’ proposed new round of relief legislation can be found here.
Senate Republicans and the White House are already objecting to the House Democrats’ $3 trillion spending proposal stating that there has not been sufficient time to determine the impacts of the $2 trillion authorized under the bi-partisan CARES Act.
The proposed “HEROES Act” bill includes $875 billion for cash for state and local governments, an additional $20 billion for tribal nations, $20 billion additional funding for U.S. Territories, and a $25 billion bailout of the U.S. Postal Service. Further spending requests include mortgage relief, rental assistance, plus another round of stimulus checks, as well as further assistance for small businesses. The list of funding recipients is long and ranges from the Department of Education to the Railroad Retirement Board, plus $175 billion for public health and reimbursement of health related expenses related to the COVID-19 virus.
How the proposed new legislation evolves is unknown. Yet, the proposed “HEROES Act” clearly establishes the House Democrats spending priorities and may shape this fall’s presidential election.
We will monitor pending legislation and provide updates that may impact your business. And if you have any questions, including regulatory issues, COVID-19 related issues, or any other business questions, PRK Livengood attorneys are available to help.
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