Disaster Response
Senate Passes $1.9 Trillion COVID Relief Package
On a party line vote of 50-49, the Senate today passed President Biden’s $1.9 trillion COVID-19 relief package. The legislation differs slightly from the bill passed by the House on Feb. 26. As a result, the House will vote on the amended Senate version before the end of next week.
Updated Guidance for 501(c)(6) Organizations Seeking PPP Loans
The Small Business Administration has released updated guidance on what constitutes lobbying for 501(c)(6) organizations — which include local and state home builders associations — that seek forgivable loans under the Paycheck Protection Program (PPP).
FHFA Extends COVID-19 Multifamily Forbearance through June 30
The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac (the Enterprises) will continue to offer COVID-19 forbearance to qualifying multifamily property owners through June 30, 2021, subject to the continued tenant protections FHFA has imposed during the pandemic. The programs were set to expire March 31.
OSHA Issues New Guidance on COVID-19 Safety; New Safety Standard Likely Forthcoming
Late last month, OSHA issued “stronger safety guidance” on mitigating and preventing the spread of COVID-19 in the workplace. This could signal a forthcoming emergency temporary standard that OSHA inspectors would enforce.
IRS, HUD Grant Texans Relief After Disaster Declaration
In response to the toll this month’s winter storms have taken on Texas and other states, the Internal Revenue Service (IRS) has extended many tax filing deadlines to June 15, 2021. Separately, the U.S. Department of Housing and Urban Development announced its own relief for mortgages insured by the Federal Housing Administration (FHA) for those living in areas affected by the severe winter storm.
A Special 2-Week PPP Window for Companies with Fewer than 20 Employees
The Biden administration is establishing a two-week window starting on Wednesday, Feb. 24, in which only businesses with fewer than 20 employees — the overwhelming majority of small businesses — can apply for Paycheck Protection Program (PPP) forgivable loans.
Winter Safety Tips for Homes and Jobsites
Access information and resources to navigate severe winter weather this season.
Civil Case Over Face Masks Could Impact Home Sales Offices
Nike, Inc. has reportedly agreed to settle a class action lawsuit filed by a deaf California resident that could impact any business that deals with customers requiring accommodation, including home sales offices.
Biden Stimulus Plan on a Legislative Fast Track
Twelve House committees have begun consideration of President Biden’s $1.9 trillion COVID relief plan using a procedural process known as reconciliation. Reconciliation allows the legislation to avoid the Senate filibuster, meaning a simple majority vote is needed for Senate passage, but also imposes some limitations on what can be included in the bill.
Biden’s Broad Stimulus Package Will Help Housing
While NAHB supports bipartisan efforts to to reach an agreement on a coronavirus relief package, the association believes President Biden’s $1.9 trillion plan offers a better path forward to boost the housing sector and economy than the $618 billion Republican alternative put forth by 10 U.S. senators. The White House has also expressed a willingness to continue talks with NAHB regarding lumber price and supply issues.
