| NEWS CoronaVirus and its effects on sports and life in general. (SEC announcement: No spring FB games.)

It Takes Eleven

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For those of you with small businesses, get in line for the SBA loans authorized by the new law. It's one of the best deals I've seen.
 

BamaBoyJosh

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Im just quoting him lol We have a really big theater here that opened a few years ago, has done really, really well. It's easily the nicest one around here (reclining seats, full restaurant style menu, fair prices, etc.) and they stayed open as long as possible before finally having to shut down. Virtually no one was going anymore and they literally just took out a big loan to expand the theater... Now, he's trying to get people to come and at least order take out food by offering free popcorn to everyone in hopes they can at least make a little money and keep his employees working. Its getting rough.
 

It Takes Eleven

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Yeah, it's a big performing arts center complex, containing a handful of venues, named after Kennedy right after he died. It has nothing to do with his politics. If you've ever driven across the U.S. 50/I-66 bridge that carries you into the District, it's the gargantuan rectangular building to the north of the bridge.
 

planomateo

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We're already in the rabbit hole regretfully.

I read someone who made the statement that when you bail out corporations, it's essentially bailing out investors. Case in point, Boeing stock is up 63% in days, at one point yesterday it was 75%. Currently up almost 5% in premarket.

We need to get back to work as safely as possible as quickly as possible.
 

rocknthefreeworld

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The stock market drives companies too much now. The whole thing of tying executive compensation to stock has ensured they only care about the stock price. I saw it when I worked for AT&T in the 90's. Every stock price drop or stagnation caused a round of layoffs that drove the price back up. I would bet you will see companies paying dividends right now while cutting hours/employees.
 

BamaBoyJosh

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Shelby press release
Shelby: Senate Passes Monumental Coronavirus Legislation, Provides $2 Trillion in Relief

WASHINGTON, D.C.
– U.S. Senator Richard Shelby (R-Ala.) today applauded Senate passage of H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This major legislation contains $2 trillion in funding to bring critical relief and provide resources to the American people during this pandemic.
“This comprehensive package will bring much-needed relief for the people of Alabama and our nation during this mounting emergency,” said Senator Shelby. “I am glad we have finally been able to advance these resources and help protect Americans throughout the country. I am confident that this legislation will pave the way for us to overcome the current economic and public health crisis we are facing, allowing us to emerge stronger on the other side.”
The CARES Act, which passed by a vote of 96-0, provides resources for state and local governments straining from the effects of the pandemic; support for hospitals and health care workers; funding for medical equipment; support for law enforcement and first responders; funding for scientists researching treatments and vaccines; aid for small businesses; support for local schools and universities; and funding for affordable housing and homelessness assistance programs.

The measure contains the following provisions, among others, that will impact Alabama:

· $150 billion for State and Local Governments;
· $45 billion for the FEMA Disaster Relief Fund;
· $1.5 billion for State and Local Preparedness Grants;
· $3.5 billion for Child Care Development Block Grants;
· $250 million for Hospital Preparedness;
· $100 billion for Reimbursements for Health Care Providers;
· $30.75 billion for the Education Stabilization Fund;
· $400 million for First Responder Grants;
· $10 billion for Airport Improvements Grants;
· $1.5 billion for Economic Development Administration Grants;
· $450 million for the Emergency Food Assistance Program;
· $350 billion for the Paycheck Protection Program;
· $349 billion for Small Business Administration Loan Guarantees;
· $425 million for Mental and Behavioral Health Services;
· $265 million for Small Business Grants for Counseling, Training, and Related Assistance;
· $300 million for Fishery Disaster Assistance;
· $850 million for Byrne JAG Grants; and
· $23.5 billion for Support for Agricultural Producers.

The legislation provides $339.855 billion in emergency supplemental appropriations to aid Americans during the Coronavirus crisis. More than 80 percent of the total funding provided in the Coronavirus emergency supplemental appropriations division of the package will go directly to state and local governments.

This package follows two previous Coronavirus emergency relief bills passed by the Senate to provide relief for the American people during this unprecedented time. The first emergency supplemental package was passed by the Senate on March 5, 2020, which provided $8.3 billion in total resources to prevent, prepare for, and respond to the Coronavirus. The second legislative initiative – the Families First Coronavirus Response Act, which passed the Senate on March 18, 2020 – provides flexibility for the Departments of Treasury and Labor to assist small businesses, establishes emergency paid family and medical leave for those affected, and increases unemployment benefits and food aid.

Following today’s Senate passage, the CARES Act will now move to the U.S. House of Representatives. Upon passage in the House, the legislation will advance to the President’s desk for his signature.
 

BamaBoyJosh

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Jones press release
Senator Doug Jones Votes to Pass Strengthened Economic Relief Package
WASHINGTON
– U.S. Senator Doug Jones (D-Ala.) last night voted to pass a strengthened version of the Senate’s third major COVID-19 economic relief package. After the measure failed to earn enough votes to advance on Sunday evening, negotiations continued and the final bill now includes significant improvements to help workers, health care providers, and others who are most vulnerable to the economic fallout of COVID-19.
“I’m relieved that we were able to continue negotiations to create a bipartisan package that meets Alabama’s critical needs and provides money for the millions of folks who have been laid off across the country. From robust funding for hospitals and community health centers, to loans and grants to small businesses to keep their doors open and workers employed, this bill will provide help for the people in Alabama who need it most,” said Senator Jones, who is a member of both the Senate health and banking committees. “While this is another major step to provide relief for Americans who are struggling right now, Congress and the Administration must continue to work to make sure that we’re doing everything we can to prevent the spread of this virus and to provide working people and small businesses with the help they need to keep their heads above water.”

New provisions in the final bill that were not included in Sunday’s package:
  • Unemployment Insurance: Up to 4 months of unemployment insurance benefits instead of 3 months, with an additional $600 benefit per week. In total, unemployed workers could receive 39 weeks of unemployment benefits, through the end of 2020.
  • Health Care System: $55 billion increase from previous drafts, for a total of $150 billion to help hospitals and health care providers who are on the front lines of this pandemic.
  • Increased Funding for States and Local Governments: $150 billion for a state, tribal, and local Coronavirus Relief fund. Alabama will receive no less than $1.25 billion under this fund.
  • Supporting Students and Schools: includes $30.75 billion for Education Stabilization Fund, provides federal student loan cancelation for students who withdrew due to COVID-19, and suspends federal student loan payments without accrual of interest until September 30, 2020
  • Additional Assistance for Small Businesses: $10 billion for SBA emergency grants of up to $10,000 to provide immediate relief for small business operating costs.

Senator Jones advocated for specific Alabama priorities in this bill, including:
  • Jones-Cassidy legislation requiring insurance companies to cover the costs of a future approved COVID-19 vaccine.
  • $1 billion to Historically Black Colleges and other minority-serving institutions.
  • Jones-Brown legislation to prevent landlords from evicting renters during the coronavirus crisis.
  • Jones-Rounds legislation to establish a Ready Reserve Corps to ensure vital health care jobs are filled when disasters strike in the United States.
  • Jones-Toomey legislation to fix a drafting error in current tax law and help spur Main Street investments.
  • Jones proposal to help small business continue to make payroll for employees through payroll providers.
Other important provisions for Alabama workers and businesses include:
  • Direct payments of up to $1,200 for single tax-filers that make $75,000 or less, and $2,400 for joint tax-filers that make $150,000 or less. Families would receive an additional $500 per child.
  • Extends the federal tax filing deadline from April 15 to July 15.
  • Expands unemployment benefits to allow part-time, self-employed, gig economy, and furloughed workers to access UI benefits.
  • Sets aside $15.5 billion in Supplemental Nutrition Assistance Program (SNAP) contingency reserve.
  • Provides $3.5 billion in additional funding to provide child care assistance to health care sector employees, emergency responders, sanitation workers, and other workers deemed essential during the response to the coronavirus regardless of income eligibility requirements.
As Congress looks to draft future relief packages, Senator Jones will continue to work toward including important policies like expanding early voting and vote-by-mail, and incentives for states to expand Medicaid.
 

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