New Administration Pandemic Plans Will Bring Legal Changes

President-elect Biden last night outlined plans for a $1.9T pandemic package he intends to seek from Congress upon taking office. Key goals include the following:

Individual stimulus payments of $1,400.

Additional unemployment aid (increased to $400/week, from $300, and available until September rather than until March).

Rental assistance and eviction moratorium: $25B for rent, $5B for utilities, and a ban on rental evictions through September 30 (the current ban expires at the end of January).

Hunger assistance: enhanced food stamp aid to be extended through September rather than expiring in June; $1B to states and territories for food aid; and $3B for certain other food programs. In addition, he proposes working with the restaurant industry to find jobs and food for laid-off restaurant workers.

Health insurance: providing subsidies for laid-off workers who have lost their employer health care to pay for insurance premiums on other plans.

Restore emergency paid leave and make the benefits available through September.

New small business lending: $15B in addition to the existing PPP programs.

States and schools: $350B for various ongoing vital services and maintaining payrolls, opening schools, and running vaccine and testing programs.

National vaccination program: $20B.

National testing initiative: $50B.

Increased minimum wage.

Expanded child care assistance and associated tax credits.

Obviously, any such package would bring changes for employers and in connection with business planning generally. My colleagues and I will monitor details on the proposed plan as details emerge of any bill(s) in Congress, and provide highlights and summary guidance as the specifics evolve.