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FAQ: What COVID-19 Relief Means to Women-Owned Businesses

Posted By Ann Sullivan, WIPP Chief Advocate, Wednesday, April 1, 2020
Updated: Friday, April 3, 2020

 

Please check WIPP.org/coronavirus for the latest business resources. The WIPP Advocacy Team has been breaking down this legislation on our weekly Monday webinars and we have written this FAQ to help the WIPP network. We will expand this FAQ as more questions and clarifications become necessary. Email questions to the ACE HelpDesk at membership@wipp.org.

 

Congress has passed three bills providing COVID-19 relief to individuals and businesses. 

  • The first, Coronavirus Preparedness and Response Supplemental Appropriations (H.R. 6074), became law on March 6. 
  • The second, Families First Coronavirus Response Act (Families First) (H.R. 6201), became law on March 18.
  • The third bill, Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (H.R. 748), became law on March 27. 
  • Future legislation will wait until Congress returns Monday, April 20. House Speaker Nancy Pelosi (D-CA) said that the next coronavirus stimulus should include at least $760 billion over five years for infrastructure, including water projects, broadband and transportation—plus $10 billion for community health centers and more for housing and education. 

 

 

Frequently Asked Questions

I need funding. What loan programs are available for me right now?

As a result of the legislation, the U.S. Small Business Administration (SBA) has four options for funding relief in the wake of COVID-19.

 

My workforce has been affected. What are the new sick leave and family leave (FMLA) requirements for employers? 

Specifically listed in the Families First legislation, employers under 500 employees are required to offer two weeks of paid sick leave to employees who are sick from the coronavirus, taking care of someone who is sick with the virus or are providing childcare due to cancelled school/daycare – without fear of losing their jobs.

The bill applies to all employers and expands the definition of who is eligible for FMLA by adding employees who are unable to work because they are providing childcare due to closed schools/daycare centers. Requirements for employers include paying employees two-thirds pay for a little more than 10 weeks. This change is effective through December 31, 2020. Employers can get a 100% quarterly payroll tax credit to cover this expense.

Visit the Department of Labor’s FAQ for specific questions regarding the Families First legislation. 


What is the guidance for federal contractors? 

A March 20 memo to the Defense Industrial Base (DIB) caused massive issues for contractors. In order to stay in business, contractors have had no other choice other than to send their employees to work – sick or not, affecting 2.5 million workers and putting an even larger population at risk. 

Section 3610 of the CARES Act H.R. 748) solves this by telling agencies to pay their contractors who cannot come to work until this pandemic is over. Keep good records and talk to your contracting officer about this new law.



How will this affect my taxes? 

The IRS explains all of the changes and is continuously updating their site: https://www.irs.gov/coronavirus

 

 

 

Tags:  Advocacy  COVID-19  policy 

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