Distribution of Coronavirus Aid, Relief, and Economic Security (CARES) Act Provider Relief Fund Assistance to Urology Practices

2021 ◽  
Author(s):  
James Nie ◽  
Folawiyo Laditi ◽  
Michael S. Leapman
Keyword(s):  
Economic Security ◽  
Relief Fund ◽  
Aid Relief

The Pandemic's Impact on Credit Risk: Averted or Delayed?

FEDS Notes ◽  
2021 ◽  
Vol 2021 (2957) ◽  
Author(s):  
SungJe Byun ◽  
◽  
Aaron Game ◽  
Alexander Jiron ◽  
Pavel Kapinos ◽  
...  
Keyword(s):  
Credit Risk ◽  
Service Sector ◽  
Economic Security ◽  
Bank Failures ◽  
Balance Sheets ◽  
Bank Balance Sheets ◽  
Aid Relief

The COVID-19 recession resulted in historic unemployment and a significant shock to much of the service sector. Despite these macroeconomic challenges, banks' risk-based capital buffers remain high and the number of bank failures remains low. Government relief programs, including the Coronavirus Aid, Relief, and Economic Security (CARES) Act, both directly and indirectly helped stabilize bank balance sheets during the crisis.

scholarly journals Washington Hotline

2020 ◽  
Vol 81 (6) ◽  
pp. 306
Author(s):  
Kevin Maher ◽  
Carrie Russell
Keyword(s):  
Higher Education ◽  
Student Loans ◽  
Economic Security ◽  
Department Of Education ◽  
Institutions Of Higher Education ◽  
Student Aid ◽  
Budget Cuts ◽  
Research Libraries ◽  
Aid Relief

COVID-19 relief for academic librariesWhile budget cuts for college and research libraries are taking place at many institutions, ALA continues to advocate for libraries to be included in federal relief packages. The $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L.116-136), passed in April, would benefit college and research libraries. The majority of the CARES Act Education Stabilization Fund is reserved for institutions of higher education (IHE) centers around student aid and encourages maximum flexibility. For example, the Department of Education (ED) is suspending payments on federal student loans until September 30, 2020, and no interest would accrue during this period of suspension. However, as much as 49% of the Education Stabilization Fund may be expended (to cover any costs associated with significant changes to the delivery of instruction due to the coronavirus), with only a few constraints.

scholarly journals The impact of COVID-19 on small business outcomes and expectations

2020 ◽  
Vol 117 (30) ◽  
pp. 17656-17666 ◽  
Author(s):  
Alexander W. Bartik ◽  
Marianne Bertrand ◽  
Zoe Cullen ◽  
Edward L. Glaeser ◽  
Michael Luca ◽  
...  
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Economic Security ◽  
Business Outcomes ◽  
Mass Layoffs ◽  
Experimental Variation ◽  
Expected Length ◽  
Business Resilience ◽  
The Impact ◽  
Aid Relief

To explore the impact of coronavirus disease 2019 (COVID-19) on small businesses, we conducted a survey of more than 5,800 small businesses between March 28 and April 4, 2020. Several themes emerged. First, mass layoffs and closures had already occurred—just a few weeks into the crisis. Second, the risk of closure was negatively associated with the expected length of the crisis. Moreover, businesses had widely varying beliefs about the likely duration of COVID-related disruptions. Third, many small businesses are financially fragile: The median business with more than $10,000 in monthly expenses had only about 2 wk of cash on hand at the time of the survey. Fourth, the majority of businesses planned to seek funding through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. However, many anticipated problems with accessing the program, such as bureaucratic hassles and difficulties establishing eligibility. Using experimental variation, we also assess take-up rates and business resilience effects for loans relative to grants-based programs.

scholarly journals Coronavirus Aid, Relief, and Economic Security for Whom? IRS Overreaches in Denying CARES Act Economic Impact Payments to Migrant Workers and Incarcerated Individuals

2020 ◽  
Author(s):  
Justin Schwegel
Keyword(s):  
Economic Impact ◽  
Migrant Workers ◽  
Economic Security ◽  
Eligibility Criteria ◽  
Administrative Procedure ◽  
Information Center ◽  
Resident Aliens ◽  
Aid Relief ◽  
Rule Making ◽  
Tax Filing

Individuals who received advance refunds under the Coronavirus Aid, Relief, and Economic Security (CARES) Act met the eligibility criteria in their 2019 tax filings (or 2018 filings if they had not yet filed 2019 taxes). Advance refunds are treated as a refund of an overpayment of 2018 or 2019 taxes. Subsequent changes in tax filing status in 2020 do not retroactively make one ineligible for an advance refund. On May 6, the IRS issued guidance on its Economic Impact Payment Information Center website instructing incarcerated individuals and certain resident aliens that they should return the economic impact payments (also called advance refunds or stimulus payments) they received from the IRS. This guidance is not legally binding for two distinct reasons. First, it was issued without conforming to the procedural requirements of the Administrative Procedure Act. Second, the guidance exceeded the IRS’s rule-making authority because it contradicts unambiguous statutory language.

Acts of Congress and COVID-19: A Literature Review on the Impact of Increased Unemployment Insurance Benefits and Stimulus Checks

FEDS Notes ◽  
2021 ◽  
Vol 2021 (2839) ◽  
Author(s):  
Elena Falcettoni ◽  
◽  
Vegard Nygaard ◽  
Keyword(s):  
Literature Review ◽  
Unemployment Insurance ◽  
Local Governments ◽  
Economic Security ◽  
Insurance Benefits ◽  
Business Loan ◽  
State And Local ◽  
The Impact ◽  
Aid Relief ◽  
Loan Forgiveness

Congress passed the first COVID-19 relief package for businesses and individuals in March 2020, when the Coronavirus Aid, Relief and Economic Security (CARES) Act was enacted, providing, among other things, one-time stimulus checks for individuals, extended unemployment insurance (UI) benefits, relief for state and local governments, liability protection, and the Paycheck Protection Program for small-business loan forgiveness.

Developments in the Credit Score Distribution over 2020

FEDS Notes ◽  
2021 ◽  
Vol 2021 (2902) ◽  
Author(s):  
Sarena Goodman ◽  
◽  
Geng Li ◽  
Alvaro Mezza ◽  
Lucas Nathe ◽  
...  
Keyword(s):  
Credit Risk ◽  
Global Financial Crisis ◽  
Economic Security ◽  
Economic Recovery ◽  
Economic Conditions ◽  
Score Distribution ◽  
Credit Score ◽  
Household Credit ◽  
The Global Financial Crisis ◽  
Aid Relief

The distribution of household credit risk can vary with aggregate economic and credit conditions. For example, the share of subprime-scored borrowers declined at a relatively steady pace during the economic recovery from the Global Financial Crisis. Although the COVID-19 pandemic interrupted the economic conditions that supported this trend, the pace of decline accelerated following the pandemic’s onset in March 2020. The analysis that follows suggests that this acceleration was largely driven by the Coronavirus Aid, Relief, and Economic Security Act’s (CARES Act) forbearance provisions.

Fall from GRASE: The Sunsetting of the Sunscreen Innovation Act

2021 ◽  
pp. 39
Author(s):  
◽  
◽  
Keyword(s):  
Drug Administration ◽  
Health Risks ◽  
Scientific Literature ◽  
Economic Security ◽  
Over The Counter ◽  
Potential Health ◽  
Human Use ◽  
Aid Relief

The 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act terminated the Sunscreen Innovation Act (SIA) that the Food & Drug Administration (FDA) uses to determine sunscreen actives as safe and effective for human use. The Act also nullified a recent FDA proposal that reclassified 14 organic sunscreen actives as either not safe for human use or requires more data before being used in humans. Most sunscreen actives were approved in 1978; since that time the FDA has determined that over the last 20 years several changes have occurred leading to a substantial increase in sunscreen usage and exposure that increases the potential health risks associated with their use. Based on the scientific literature for the actives reviewed, it is clear that the SIA is needed to assure that sunscreen and other over-the-counter drugs are safe and efficacious for human use prior to entering the marketplace.

scholarly journals Redistribution and the Monetary-Fiscal Policy Mix

2021 ◽  
Vol 2021 (013) ◽  
pp. 1-47
Author(s):  
Saroj Bhattarai ◽  
◽  
Jae Won Lee ◽  
Choongryul Yang ◽  
◽  
...  
Keyword(s):  
Economic Security ◽  
New Keynesian ◽  
Keynesian Model ◽  
Redistribution Policy ◽  
Monetary Regime ◽  
Fiscal Adjustments ◽  
The Government ◽  
Fiscal Regime ◽  
Debt Holders ◽  
Aid Relief

We show that the effectiveness of redistribution policy in stimulating the economy and improving welfare is directly tied to how much inflation it generates, which in turn hinges on monetary-fiscal adjustments that ultimately finance the transfers. We compare two distinct types of monetary-fiscal adjustments: In the monetary regime, the government eventually raises taxes to finance transfers, while in the fiscal regime, inflation rises, effectively imposing inflation taxes on public debt holders. We show analytically in a simple model how the fiscal regime generates larger and more persistent inflation than the monetary regime. In a quantitative application, we use a two-sector, two-agent New Keynesian model, situate the model economy in a COVID-19 recession, and quantify the effects of the transfer components of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. We find that the transfer multipliers are significantly larger under the fiscal regime—which results in a milder contraction—than under the monetary regime, primarily because inflationary pressures of this regime counteract the deflationary forces during the recession. Moreover, redistribution produces a Pareto improvement under the fiscal regime.

scholarly journals Sustaining Tribal Fisheries: U.S. Economic Relief Policies during COVID-19

2021 ◽  
Vol 13 (22) ◽  
pp. 12366
Author(s):  
Kelsey Leonard
Keyword(s):  
Critical Discourse Analysis ◽  
Economic Security ◽  
Tribal Sovereignty ◽  
State Spending ◽  
Fishing Rights ◽  
Emergency Relief ◽  
Policy Content ◽  
The Individual ◽  
Trust Responsibility ◽  
Aid Relief

This article reviews the individual spend plans of U.S. states granted a funding allocation under Sec. 12005 of the Coronavirus Aid Relief and Economic Security (CARES) Act to identify consistency with legislative mandates to support Tribal commercial, subsistence, cultural, or ceremonial fisheries negatively impacted by the COVID-19 pandemic. Utilizing critical discourse analysis, this study identifies state discursive practices in supporting Tribal sovereignty in fisheries management for the advancement of Indigenous Ocean justice. State spending plans (n = 22) publicly available and submitted to the National Oceanic and Atmospheric Administration before July 2021 were reviewed. Few of the state spend plans listed impacts to Tribal fisheries due to the pandemic. Only two state plans included Tribal consultation and direct economic relief for commercial, subsistence, cultural, and/or ceremonial losses faced by neighboring Tribes and Tribal citizens. Overall, the protections within the CARES Act for Tribal fisheries were not integrated into state spend plans. The article identifies best practices for state fisheries relief policy content that is affirming of Tribal fishing rights and uses them to help address the ongoing pandemic crisis facing Tribal fisheries. These findings have relevance for future emergency relief programs that are inclusive of Tribal Nations. Honoring Tribal sovereignty and the federal trust responsibility must be the cornerstone of shared sustainable fisheries.

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