Update from NFIB Conference Call
We just got off the NFIB call (see slides here). A few key things to note:
- There is still no clarity as to what qualifies as an exemption for small business from the expansion of the FMLA benefits in the Families First Coronavirus Response Act. The Department of Labor is expected to provide further guidance. The NFIB is pushing for as broad an exemption as possible.
- There is a third Covid-19 related bill (CARES Act), which was proposed by Senate Republicans on 3/19. It would include business interruption loans for things like payroll, mortgage payments and debt payments. Additional consideration/deliberation of this bill is expected on Monday.
Outside of those two points, we have drafted a memo which more fully details the Families First Coronavirus Response Act.
As more information comes in, we will send out further updates.
Please feel free to call or email me with any questions or concerns.
Keep moving forward! We will get back to normal.