As TIA continues to monitor the situation surrounding COVID-19 and it’s impact on the 3PL and transportation industries, here is your Daily Update for May 21. As a reminder, you can find all the latest information, resources, guidance, and news from TIA’s COVID-19 Response Center.
The House of Representatives is preparing to vote on changes to the government’s small business loan program next week that will offer more flexibility to companies affected by COVID-19 after widespread concerns by some businesses about strict mandates, including several from small businesses throughout the United States. Alot of owner-operators were not able to take advantage to the loan programs, because the way the rules were written.
The changes to the Paycheck Protection Program (PPP), designed to help struggling businesses stay alive and keep paying their workers during the pandemic, is likely to garner bipartisan support in both the House and Senate as lawmakers on both sides of the aisle have voiced support for fixes to the landmark program. It’s likely to be one of the first measures the House will vote on by proxy to limit the number of lawmakers gathering in the U.S. Capitol, though exact timing on the vote hasn’t been released yet.
TIA Government Affairs team will continue to monitor the situation and report back on passage of any COVID-19 relief package.
LUNCH & LEARN UPDATE:
Thanks to everyone who joined today’s Virtual Lunch & Learn webinar, “The Impacts of COVID-19 on the United States, Mexico & Canada Cross-Border Movements.” As a reminder, all Virtual Lunch & Learn webinars can also be accessed on-demand.
NOËL PERRY UPDATE:
Another decent U.S. day with a noticeable decline in the U.S.7-day death rates. The only significant statistical change is another spike in U.S. tests. It appears that we have a typical case of American enthusiasm. It is no surprise that Russia, with the second-largest contagion, trails only the U.S. in total tests. This is a strange renewal of our traditional rivalry with the Russians.
You will find reassuring data in Exhibit 4, another good piece of work from J.P. Morgan. That data test whether contagion rates have gone up in countries and states that have relaxed economic restrictions. The answer to the test is a resounding “no!” Contagion rates have continued to fall regardless of an entity’s” policies. Infection rates have not risen as most health experts have predicted and are still warning us about. Perhaps it is simply a media hungry for another eye-catching story. Either way, the data says the opposite, contagion rates have not risen as people have interacted more.
We’ll be back on tomorrow with COVID-19 updates and information that came through overnight.
Here are the Andrews Sisters with, “Six Jerks in A Jeep”.