CARES Act Developments and Newly Proposed Fiscal Stimulus Legislation as of September 4, 2020

September 4, 2020 – There were no regulatory developments of note; two bills related to funding for COVID-related loses were introduced in Congress.

Regulatory Developments Relating to the Pandemic

None.

Legislative Proposals

H.R. 8142: Federal Disaster Housing Stability Act of 2020

On September 1, Representative Val Demings (D-FL) introduced legislation that would apply an automatic eviction moratorium to all rental properties and foreclosure moratorium to all federally backed mortgages if there has been a federal declaration of emergency, such as a pandemic. 

• Press release 

 H.R. 8123: Postal Service Emergency Assistance Act

On August 28, Representative Anthony Gonzalez (R-OH) introduced legislation that would provide targeted funding to the United States Postal Service (USPS) to make up for economic losses due to the COVID-19 pandemic. The bill would also require the Postmaster General and the Board of Governors to submit a long-term economic plan to Congress. This bill is the companion legislation to a bill introduced by Senators Susan Collins (R-ME) and Dianne Feinstein (D-CA) in early July.

• Press release

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