The U.S. Senate today passed the Families First Coronavirus Response Act, which contains the same provisions as the House version that passed over the weekend.
The bill is on its way to President Trump’s desk, which he is expected to sign. Broadly, the multi-billion dollar relief package does the following:
- Requires most employers to provide up to two weeks of paid sick leave and three months of paid family and medical leave for COVID-related absences. Each quarter, employers will get a fully-refundable tax credit for the wages paid (up to a certain amount).
- Gives states the ability to expand unemployment insurance eligibility.
- Provides for free testing of the virus for those eligible.
- Boosts the Supplemental Nutrition Assistance Program and increases funding for Medicaid.
More details on how these provisions will impact employers can be found in our update here.
Congress is now working on a separate coronavirus relief proposal, which could provide additional assistance to small businesses. The Colorado Chamber will continue to update members on these developments.