This afternoon, the United States Senate voted on a targeted COVID-19 relief package, which was introduced by Majority Leader McConnell earlier this week. The bill failed, with a vote of 52-47. This bill would have provided $500 billion in funding and is an edited version of both the $1 trillion HEALS Act and a separate GOP "skinny" bill, neither of which were considered for floor votes. The House passed their version of an additional relief package in May, the $3.5 trillion HEROES Act. It was passed by Democrats on a party line vote and was not taken up by the Senate. This narrow bill is seen by many as a re-opening for one last chance at a stimulus bill before Congress breaks going into the November elections.
The Senate's bill:
Companies in all sectors of the economy continue to be impacted by COVID-19. Foley is here to help our clients effectively address the short- and long-term impacts on their business interests, operations, and objectives. Foley provides insights and strategies across multiple industries and disciplines to deliver timely perspectives on the wide range of legal and business challenges that companies face conducting business while dealing with the impact of the coronavirus. Click here to stay up to date and ahead of the curve with our key publications addressing today’s challenges and tomorrow’s opportunities. To receive this content directly in your inbox, click here and submit the form.