GSBE Business Update 01/04/2021
ATTENTION SMALL BUSINESSES AND NONPROFITS – $500 MILLION IN GRANTS COMING SOON
If you own a small business or manage a nonprofit, keep an eye out for an upcoming $500 million grant program that could give you up to $25,000. Sign up HERE to get updates on when grants become available and to get more information about small business initiatives.
$900 BILLION FEDERAL COVID-19 RELIEF PASSED:
- Congress finally approved another round of $900 billion in stimulus funds for emergency pandemic relief. Quick highlights:
- Additional $300/week in unemployment insurance through March 14, 2021.
- Direct payments of $600 for individuals making up to $75K; $1,200 for families making $150K plus $600 per child.
- $325 billion for small businesses, extension of Paycheck Protection Program through March 2021 (501c6’s now eligible), and added benefits for restaurant, hospitality, and venue operators.
- Extension of the Employee Retention Tax Credit and other tax incentives.
- $81 billion for education relief to states, K-12, and higher education institutions.
- $69 billion for health care support, COVID testing and tracing, and vaccines.
- $45 billion for transportation, with support for transit, airlines, and roads.
- $3.2 billion for low-income families to access broadband.
PADILLA APPOINTED TO FILL SENATE VACANCY
SRBX congratulates CA Secretary of State Alex Padilla, who will be appointed by the Governor to complete Senator Kamala Harris’s term once she is sworn in as Vice President. Padilla will be California’s first Latino Senator. Read more.
CDC RECOMMENDS WHEN CONSTRUCTION WORKERS WILL RECEIVE VACCINE
According to recommendations made by the Centers for Disease Control and Prevention’s Advisory Committee on Immunization Practices, roughly 30 million Americans that fall into the frontline essential workers group, including first responders and grocery store employees, should be in Phase 1b, because they are at substantially higher risk of exposure to COVID-19. Another 57 million essential workers, such as those in construction and food service, should be in Phase 1c. The panel said these recommendations are nonbinding and intended to guide state and local health officials, and can be adjusted based on local needs. Read more.