On April 6, President Joe Biden announced that all U.S. residents 18 and older will be eligible to receive the COVID-19 vaccine by April 19, about two weeks earlier than the President’s previous target date of May 1. “No more confusing rules. No more confusing restrictions,” he said. Most states have already either made vaccines available to all residents 18 and older or have plans to do so by mid-April.
This week, President Biden is also continuing to promote his “American Jobs Plan,” the $2.25 trillion infrastructure stimulus package he announced last week, expressing hope that a bipartisan compromise can be reached. In remarks on Wednesday, the President said, “In the next few weeks, the Vice President and I will be meeting with Republicans and Democrats to hear from everyone. And we’ll be listening. We’ll be open to good ideas and good-faith negotiations.” However, the President also said he “will not be open to doing nothing. Inaction simply is not an option.” The Biden administration also released the details of his “America Tax Plan” Wednesday, which aims to raise as much as $2.5 trillion over 15 years to help finance the infrastructure proposal.
Democrats in Congress are already preparing for the possibility that a bipartisan compromise will not be reached. On Monday, a spokesman for Senate Majority Leader Chuck Schumer announced the Senate Parliamentarian ruled that Congress can once again use the budget reconciliation process to advance legislation this Congress, allowing Democrats to pass the American Jobs Plan by a simple majority vote in the Senate. However, Majority Leader Schumer’s Office stopped short of confirming Democrats will use the reconciliation process to pass infrastructure stimulus legislation. “While no decisions have been made on a legislative path forward using [reconciliation] and some parameters still need to be worked out, the Parliamentarian's opinion is an important step forward that this key pathway is available to Democrats if needed.”
Regarding the American Jobs Plan, House Speaker Nancy Pelosi (D-CA) said in a press release that President Biden’s plan is “a visionary, once-in-a-century investment in the American people and in America’s future.” Senate Majority Leader Chuck Schumer (D-NY) voiced similar approval for the plan. However, not everyone was receptive of the American Jobs Plan. Senate Minority Leader Mitch McConnell (R-KY) made clear his disappointment in the proposal, stating that “our nation could use a serious, targeted infrastructure plan. There would be bipartisan support for a smart proposal.” Senator McConnell went on to say that “the latest liberal wish-li…is a major missed opportunity” and more like a “Trojan horse” for tax hikes that would eliminate jobs and depress wages.
The Biden administration is set to unveil its proposed top-line spending numbers for the FY 2022 budget on Friday. The Hill reports that “the Office of Management and Budget, which had originally signaled that the numbers would be released in late March, has indicated that Friday's proposal will fall short of even the ‘skinny’ budget definition, limited to overall spending levels.”
Capitol Hill. On April 6, Sen. Mark Warner (D-VA) and House Financial Services Committee Chair Maxine Waters (D-CA) sent a letter to Treasury Secretary Janet Yellen urging the Department of the Treasury to extend the Emergency Capital Investment Program (ECIP) application deadline. “Extending the deadline would ensure eligible Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs) have the time and information necessary to apply for the program. Key industry stakeholders have raised concerns that further guidance and time are needed to ensure eligible institutions take advantage of the resources available through ECIP.” The current ECIP application deadline is 11:59pm ET, Friday, May 7, 2021.
At 3pm ET on Tuesday, April 13, the Senate Commerce Subcommittee on Tourism, Trade, and Export Promotion will hold a hearing on “The State of Travel and Tourism During COVID.” The hearing will examine the economic impacts of the COVID-19 pandemic on the travel and tourism industry, with a particular focus on the hotels, conventions, and the broader hospitality industry. It will also review regional impacts of COVID on tourism-heavy economies and those communities disproportionately affected by the pandemic's resulting economic downturn. Witnesses include executives from the hospitality, restaurant, and lodging sectors from Nevada and Florida, the U.S. Travel Association, and MGM Resorts International.
At 10am ET on Wednesday, April 14, the Senate Homeland Security and Governmental Affairs Committee will hold a hearing on “Preparedness for COVID-19: The Initial Pandemic Response and Lessons Learned”.
At 2:30pm ET on Wednesday, April 14, the Joint Economic Committee will hold a hearing on “Vaccinations and the Economic Recovery”. Witnesses include economists from New York University, George Mason University, and Barnard College.
At 10am ET on Thursday, April 15 the House Oversight Select Subcommittee on the Coronavirus Crisis will hold a hearing with CDC Director Rochelle Walensky, National Institute of Allergy and Infectious Diseases Director Anthony Fauci, and Chief Science Officer for COVID Response David Kessler on “Reaching the Light at the End of the Tunnel: A Science-Driven Approach to Swiftly and Safely Ending the Pandemic”.
Administration. Treasury announced the disbursement of more than 25 million payments in the fourth batch of Economic Impact Payments from the American Rescue Plan, bringing the total disbursed so far to more than 156 million payments totaling $372 billion since payments began on March 12.
Treasury also announced it will issue comprehensive guidance regarding American Rescue Plan (ARP) local government funding and limitations on using ARP funds to offset tax revenue decreases resulting from state or local tax reduction. Treasury’s statement noted ARP funding is intended to support vital public health and economic responses to the pandemic, provide premium pay to essential workers, replace lost government revenue to prevent harmful cuts to government services, and make necessary investments in water, sewer, and broadband infrastructure.
Treasury also issued FAQs about the Emergency Capital Investment Program (ECIP) which provides up to $9 billion in capital directly to depository institutions that are certified Community Development Financial Institutions (CDFIs).
FCC announced the first slate of internet service providers accepted into its Emergency Broadband Benefit Program. The program will provide eligible households with discounts of up to $50 a month for broadband service, and up to $75 a month if the household is on Tribal lands. It also will provide a one-time discount of up to $100 on a computer or tablet for eligible households.
HHS announced that additional savings and lower health care costs are available for consumers on HealthCare.gov. ARP increased tax credits available to consumers, helping to reduce premiums and giving consumers access to affordable health care coverage.
FEMA provided additional information regarding the agency’s COVID-19 Funeral Assistance program. The program will open next week and will provide up to $9000 to cover burial costs.
CDC has awarded $3 billion to support local efforts to increase vaccine uptake by expanding COVID-19 vaccine programs and ensuring greater equity and access to vaccines by those disproportionately affected by the virus.
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JPMorgan Chase President and CEO Jamie Dimon predicted that a post-pandemic U.S. economic expansion may stretch “well into 2023” with the proper federal investments. Dimon said the length and power of the expansion will depend on “the quality, effectiveness, and sustainability of the infrastructure and other government investments,” as reported by The Hill.
Several U.S. Airlines have recently resumed hiring pilots or plan to this year, the latest sign the industry expects travel demand to continue rising, CNBC reported. United Airlines announced plans to resume pilot hiring, starting with some 300 pilots that had new-hire or conditional job offers when COVID-19 hit last year.
In response to the Administration’s discussion on a vaccine passport, Larry Lynch, Senior Vice President of Science and Industry at the National Restaurant Association stated, “Without a government mandate, the decision for when and how to verify vaccine status should be left up to restaurant owners to determine what is best for their business and to clearly communicate that with their employees and customers.” The National Independent Venue Association urged any verification requirements put in place must be fair to businesses across all sectors and draw on nationwide guidance from places like the CDC.
Vaccine News
NIH began the Systemic Allergic Reactions to SARS-CoV-2 Vaccination clinical trial to determine whether people who are highly allergic or have a mast cell disorder are at increased risk for an immediate, systemic allergic reaction to the Moderna or Pfizer-BioNTech COVID-19 vaccines. The information gathered from the trial will help doctors advise patients with allergies or mast cell disorders about the risks and benefits of receiving either vaccines.
Scientists are exploring alternative COVID-19 vaccination methods, Vaxart is developing a pill filled with freeze-dried delivery virus liquid. Altimmune is creating a self-administered nasal spray. Frances Lund, chair of the microbiology department at the University of Alabama at Birmingham, said the nasal spray will provide not only systemic protection but also direct immunity at the site of administration.
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Webinars, Events and Resources |
Housing Affordability Solutions in Cities
U.S. Conference of Mayors
April 8, 3:00 PM ET
Emergency Rental Assistance Programs: Understanding ERAP I and ERAP II
NACo
April 13, 1:00 PM ET
Monitoring the Spread of COVID-19 Through Environmental Scanning
NACo and Biobot Analytics
April 20, 1:00 PM ET
CRS Reports of interest:
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