How Will The Second Round of Government Stimulus Actually Help Me or My Business?
We spoke with an employer-compliance expert to find out what lies between the lines of the proposed HEALS and HEROES Acts
Source | www-entrepreneur-com.cdn.ampproject.org | Kenny Herzog
More than two months after House Democrats proposed a $3 trillion HEROES Act coronavirus relief package to supplement the existing CARES Act passed in March, Senate Republicans countered this week with an outline for their $1 trillion HEALS Act. The latter emphasizes money for schools; liability protections for businesses; a second round of one-off stimulus checks for individuals and households; reduced unemployment benefits in favor of return-to-work incentives; and guidance for another iteration of the Paycheck Protection Program, among other items. The HEROES Act, meanwhile, stressed a continuation of existing unemployment subsidies, enhanced individual stimulus payments and greater allocations toward state and local governments and healthcare workers, to name a few of its core tenets.
The questions are myriad, particularly whether a compromise can be carved out and enacted before the Senate takes its mid-summer recess starting August 8. But beyond that unknown, there are uncertainties about the practical execution of any final legislation, not to mention whether it will effectively target and ultimately provide its intended unburdening to a wide enough swath of American employers and workers.
To help scythe our way through the regulatory weeds, we spoke with Peter Isberg, vice president of government affairs for payroll- and HR-service provider ADP. We will continue to update you on the progress of federal relief efforts as the situation evolves.
