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On March 18, the Families First Bill, an emergency relief package aimed at impacts of the quickly spreading Covid-19 (Coronavirus), went into effect. In addition, the Senate has passed and the House is poised to pass a follow-up relief package, the $2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act. Both measures have impacts on and benefits for the hardwood industry. While guidance related to provisions included in the second package won’t be available until it is finalized and responsible federal departments and agencies have time to put processes in place, some guidance is available for measures included in the first package. Below is a list of resources you can explore that will help answer questions you may have about how this legislation impacts you and your company. We will be updating the list as information is made available. Please use them at your discretion and be sure to check with your HR Managers, Business Managers, and Tax Accountants to determine what programs apply to your company, you, and how. Tax Provisions For information regarding Federal Tax Payments, Deadlines, and Stimulus Checks refer to: https://www.irs.gov/coronavirus Loans & Grants For a Complete Guide and Checklist for Coronavirus-related Small Business Loans and Procedures please refer to: https://www.uschamber.com/report/covid-19-emergency-loans-small-business-guide
For Small Business Guidance and Loan Resources please refer to: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources To Apply for a Small Business Disaster Loan please refer to:
https://covid19relief.sba.gov/#/
For Small Business Disaster Loan Assistance please refer to: https://www.sba.gov/disaster-assistance/coronavirus-covid-19 https://www.disasterassistance.gov/get-assistance/forms-of-assistance/4479For information on the SBA Paycheck Protection Program please refer to: https://eig.org/news/understanding-the-paycheck-protection-programFor a March 31 Press Release and Guidance on the SBA Paycheck Protection Program please refer to:
https://www.sba.gov/about-sba/sba-newsroom/press-releases-media-advisories/349-billion-emergency-small-business-capital-cleared-sba-and-treasury-begin-unprecedented-public
Labor & Safety For information regarding Workplace Safety (OSHA), Wages, Hours and Leave, and Unemployment Insurance please refer to: https://www.dol.gov/coronavirus For Information About Paid Sick and Family Leave Tax Credits refer to
https://home.treasury.gov/news/press-releases/sm965 https://www.irs.gov/newsroom/covid-19-related-tax-credits-for-required-paid-leave-provided-by-small-and-midsize-businesses-faqs#basic
https://www.dol.gov/agencies/whd/pandemic Pertinent Department of Labor News Releases: https://www.dol.gov/newsroom/releases/whd/whd20200324 https://www.dol.gov/newsroom/releases/whd/whd20200326 For the Federal Motor Carrier Safety Regulations (FMCSR) Emergency Declaration please refer to: https://www.fmcsa.dot.gov/emergency/expanded-emergency-declaration-under-49-cfr-ss-39023-no-2020-002-relating-covid-19 For information on how to Apply for Unemployment Insurance please refer to: https://www.dol.gov/coronavirus/unemployment-insurance
Additional Resources
For a comprehensive resource on Small Businesses in the CARES Act please refer to: https://www.sbia.org/wp-content/uploads/2020/03/NEW-SBIA-Summary-of-Final-CARES-Act-3-26-20-final-1.pdf
For a comprehensive guide of State Resources & Restrictions please refer: https://web.csg.org/covid19/state-covid-19-websites-and-related-resources/ For the Center for Disease Control and Prevention (CDC) latest information on Covid-19 please refer to: https://www.cdc.gov/coronavirus/2019-ncov/ For State by State Manufacturing Resource Information please refer to: https://www.nam.org/covid-19-state-resources/ For CDC Manufacturing Facility Protocols please refer to: iz4.me/fC7e6zmwc4e1
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