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2021 Policy Agenda (entire agenda)
News Type: Roundtable Weekly
Senate Advances Biden Cabinet Confirmations; Janet Yellen Confirmed as Treasury Secretary
Cabinet nominations for the Biden Administration are advancing in a closely divided Senate. On Jan. 25, former Fed Chair Janet Yellen, above, was confirmed (84-15) by the full chamber as the first female U.S. Treasury Secretary after the Senate Finance Committee unanimously approved her nomination last week. (Roundtable Weekly, Jan. 22)
- Members of the Finance Committee asked Dr. Yellen about the potential for tax increases under the new Administration. She responded in writing, “President Biden has proposed an array of reforms that would ensure the wealthiest taxpayers and corporations pay their fair share. These and other proposals will be further developed as part of the budget process.”
- In addition to the former Fed Chair’s testimony, her responses to written questions for the record are available here.
- Secretary Yellen is expected to play an important role in negotiations with Congress over COVID-19 relief, support President Biden’s efforts to encourage clean energy jobs, and work closely with current Fed Chair Jerome Powell on bolstering an economic recovery. (The Hill, Jan. 29 and NBC News, Jan. 25)
- Yellen also said she will establish a new “hub” at Treasury that will examine financial system risks arising from climate change and on related tax policy incentives. (Politico, Jan. 25)
- Other Biden cabinet nominations of interest to commercial real estate include:
Secretary of Transportation — Pete Buttigieg
The former mayor of South Bend, IN was approved by the Senate Commerce Committee on Jan. 27 and the full Senate has scheduled a vote on his nomination on Feb. 2. Buttigieg made urban development and economic revitalization cornerstones of his mayoral service. (Reuters, Jan. 27)
Administrator of the Environmental Protection Agency (EPA)– Michael Regan
The Senate Committee on Environment and Public Works will hold a confirmation hearing on Biden’s nomination of Regan to be EPA administrator on Feb. 3. (Bloomberg Law, July 27) He currently leads North Carolina’s Department of Environmental Quality, and if confirmed will have a major role on shaping the Biden Administration’s reponse to the climate crisis.
Secretary of Energy – Jennifer Granholm
Former Michigan Gov. Jennifer Granholm had her confirmation hearing on Jan. 27 before the Senate Energy Committee. As governor, she supported policies for electric cars, energy efficiency, and renewable energy deployment.
Secretary of Commerce – Gina Raimondo
The Senate Commerce Committee held a Jan. 26 confirmation hearing to consider Rhode Island Governor Gina Raimondo for Commerce Secretary. Gov. Raimondo spoke at The Roundtable’s 2020 State of the Industry Meeting about her efforts to build more affordable housing, along with her support for Opportunity Zone tax incentives. (Roundtable Weekly, Jan. 31, 2020)
Secretary of Homeland Security – Alejandro Mayorkas
The Senate will vote on the nomination of Alejandro Mayorkas to lead DHS on Feb. 1, after he was approved by the chamber’s Homeland Security and Governmental Affairs Committee on Jan. 26. A former Obama Administration official, if confirmed he will help shape the Biden Administration’s policies on matters such as immigration and cybersecurity. (The Hill, Jan. 28)
Secretary of Housing and Urban Development – Marcia Fudge
The Senate Banking Committee on Jan. 28 held a hearing on the nomination of Marcia Fudge to lead HUD. Rep. Fudge (D-OH) is former chairwoman of the Congressional Black Caucus. During her nomination hearing, she told the committee that $25 billion in rental assistance approved by Congress at year-end was “not enough.” (NPR, Jan. 28)
A full listing of other cabinet nominees and senior roles in the Biden Administration is provided by The Wall Street Journal.
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Senate Weighs Timelines for COVID-19 Relief Bill and Impeachment Trial; President Biden Signs Climate Executive Order
Senate policymakers this week began to consider President Joe Biden’s $1.9 trillion COVID relief package proposal after Congressional leaders agreed to delay opening arguments in the impeachment trial of Donald Trump until Feb. 9. (Reuters, Jan. 25 and PBS, Jan. 26)
- As an alternative to a trial, Sen. Tim Kaine (D-VA) yesterday said he will introduce a resolution to censure the former president, citing the 14th amendment to bar Trump from holding future office. At least 10 Senate Republicans would have to vote for censure to move the resolution forward, even though the GOP has shown little support for conviction in the impeachment proceeding. (The Hill and The Washington Post, Jan. 28)
- With the impeachment trial date set, Senate Majority Leader Chuck Schumer (D-NY) said he is aiming to pass a pandemic aid package by mid-March, when unemployment benefits will expire. (Forbes, Jan. 25, 2021 and Roundtable Weekly, Dec. 22, 2020)
- Schumer and House Speaker Nancy Pelosi (D-CA) also said this week that if Republicans continue to reject President Biden’s $1.9 trillion pandemic relief proposal, a Democrat-only pandemic stimulus plan will move forward next week using budget reconciliation – a process that requires a simple majority vote in the Senate, thereby avoiding a filibuster. Vice President Kamala Harris could break a tie vote in the 50-50 Senate. (The Hill, Jan. 29)
- President Biden said Monday that he is open to negotiating a bipartisan approach to the next pandemic aid package with Congress, but stated “time is of the essence” and that “[t]he decision to use reconciliation will depend on how these negotiations go.” (Bloomberg and CNBC, Jan. 25)
- Sen. Rob Portman (R-OH) – a centrist Republican who recently announced he will not seek reelection in 2022 due to partisan gridlock – said the use of reconciliation “would exacerbate the partisanship around here; it would make it more difficult to find common ground.” (Wall Street Journal, Jan. 26)
Presidential Executive Order on Climate
- In related policy news, President Biden issued an executive order on Wednesday to “tackl[e] the climate crisis at home and abroad.” (Axios, Jan. 28, New York Times, Jan. 27). The order aims for the U.S. to achieve a “net-zero emissions” economy by 2050.
- The climate order directs federal agencies to determine the U.S.’s carbon reduction target under the terms of the Paris climate agreement, and maximize opportunities to “create well-paying union jobs to build a modern and sustainable infrastructure.”
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Pandemic Aid, Biden Administration Agenda and Other National Policy Issues Addressed in Roundtable Discussions
The Real Estate Roundtable’s 2021 State of the Industry (SOI) meeting this week featured discussions with three incoming Senate Committee chairs who oversee banking, energy, housing, and tax legislation – along with other national leaders on a wide range of policy matters. The Roundtable’s policy advisory committees also met virtually to discuss these matters as well as the Biden Administration’s COVID response initiatives, the prospects for legislating in a 50-50 Senate, and homeland security concerns in the aftermath of the January 6 attack on the Capitol. (Watch all SOI videos on The Roundtable’s YouTube Channel.)
- Roundtable Chair Debra Cafaro (Chairman and CEO, Ventas, Inc.) launched the SOI meeting on Jan. 26, acknowledging the health, economic and equality crises that have engulfed the nation over the past year. (video)
- Cafaro also emphasized how The Roundtable was one of the first industry groups to denounce the attack and suspend political support for any members of Congress not interested in seeking bipartisan solutions to the nation’s significant challenges. (Roundtable Weekly, January 15)
- Cafaro was joined by Roundtable Chair-Elect John F. Fish (Chairman & CEO, SUFFOLK) and Roundtable President and CEO Jeffrey DeBoer (photo above) in announcing that the organization’s 2021 National Policy Agenda will soon address issues in the areas of tax, capital and credit, energy and climate, homeland security, infrastructure and housing.
Policy Issues & Featured Speakers
The SOI meeting attracted nearly 300 participants and included the following speakers:
- Sen. Sherrod Brown (D-OH) – Incoming Chairman of the Senate Banking, Housing and Urban Affairs Committee – spoke about the national eviction moratorium and ensuring citizens have access to affordable housing (video). [Roundtable President and CEO testified before the Senate Banking Committee in Sept. 2020 about policy recommendations that could encourage a national recovery from the economic effects of the pandemic.]
- Sen. Joe Manchin (D-WV), photo above – Incoming Chairman of the Senate Energy and Natural Resources Committee – is one of the key centrist Senators who is expected to play a significant role in forging bipartisan legislation in the 117th Congress, as the Biden Administration moves swiftly on its pandemic aid plan and clean energy initiatives to boost job creation. (video)
- Sen. Ron Wyden (D-OR) – Incoming Chairman of the Senate Finance Committee – will have a principal role on Capitol Hill on tax, trade, and spending. He welcomed fact-based reports showing the link between real estate, the pandemic and tax policy. (video)
- Dr. Scott Gottlieb – 23rd Commissioner of the U.S. Food and Drug Administration – spoke with Roundtable Chair Debra Cafaro on the emergence of vaccines, concerns about coronavirus variants, and the prospects for fuller re-opening of the economy.
- Penny Pritzker – 38th Secretary of Commerce (2013-2017), Founder and Chairman of PSP Partners and former Roundtable Board Member – provided her insight on leadership, international trade agreement, the climate crisis and racial inequity. (video)
- Steven Pearlstein – Business and Economics Columnist, The Washington Post – discussed the challenges ahead for bipartisan policymaking in a split Senate with The Roundtable’s Board of Directors, reflecting his recent column, “Five (somewhat) upbeat predictions for 2021.” (video)
Roundtable Policy Advisory Committees
The Roundtable’s policy advisory committee meetings analyzed national issues impacting CRE in detail with the following high-level congressional and agency staff:
- Research and Real Estate Capital Policy Advisory Committees (RECPAC)
Rep. French Hill (R-AR) provided his insights on the 117th Congress from his perspective as a member of the House Financial Services Committee. Additionally, D. Michael Van Konynenburg (Eastdil Secured), Brian Kingston (Brookfield) and Michael Bilerman (Citi) provided their perspectives on the market cycle. (video)
- Tax Policy Advisory Committee (TPAC)
Tax legislative priorities affecting CRE were a focus of a discussion moderated by Russ Sullivan (Brownstein Hyatt Farber Schreck) with Tiffany Smith, chief tax counsel for Senate Finance Committee Democrats and Andrew Grossman, chief tax counsel for House Ways and Means Committee Democrats. (video)
- Homeland Security Task Force (HSTF) and Risk Management Working Group (RMWG)
This joint meeting was briefed on potential post-inauguration threats from a representative of the FBI’s Counterterrorism Division. Additionally, Brian Michael Jenkins, a senior adviser to the president of the RAND Corporation, addressed the attack on the U.S. Capitol and the implications for real estate.
- Sustainability Policy Advisory Committee (SPAC), photo above
U.S. Energy Information Administration speakers updated SPAC on the Commercial Building Energy Consumption Survey (CBECS), the only federal data that takes stock of U.S. commercial real estate. Environmental, Social, and Corporate Governance (ESG) trends were also discussed, as well as the need for voluntary federal standards to help unify a patchwork of state and local laws addressing buildings and their carbon footprint. (video)
Next on The Roundtable’s FY2021 meeting calendar is the Spring Meeting on April 20. This virtual meeting is restricted to Roundtable-level members only.
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Senate Finance Committee Approves Janet Yellen as Treasury Secretary; BisNow Webinar Features Roundtable’s DeBoer on Industry Policy Agenda and Biden Administration
The Senate Finance Committee on Jan. 22 voted unanimously to advance President Biden’s nomination of Janet Yellen for Treasury secretary to the full Senate for a vote. Yellen, who formerly served as chair of the Federal Reserve, would become the first woman to hold the position. (The Hill, Jan. 22)
- Yellen testified before the committee earlier this week that “the world has changed,” encouraged policymakers to “act big,” and addressed fiscal relief, potential tax increases and the growing budget deficit. (Bloomberg and Wall Street Journal, Jan. 19)
- “Neither the President-elect, nor I, propose this relief package without an appreciation for the country’s debt burden,” she said. “But right now, with interest rates at historic lows, the smartest thing we can do is act big. In the long run, I believe the benefits will far outweigh the costs, especially if we care about helping people who have been struggling for a very long time.” (Yellen testimony, Jan. 19)
- In follow-up written Q&A with the committee, Yellen addressed a wide variety of policy issues including tax policy and climate change. Among her answers in the document:
“Both the President and I believe we can turn the threat of climate change into an opportunity to boost our economy and reinvigorate old and new industries to create high paying middle class jobs across America. President Biden has a comprehensive plan to invest in the United States, create a clean energy economy, and address the crisis of climate change. I am focused on the President’s agenda, including investments in the clean energy economy, to address climate change and create good paying jobs and energy efficiency technologies, as well as clean electricity standards that will achieve carbon-pollution-free electricity by 2035.”
- Yellen also said she planned to start a new Treasury “hub” that would examine financial system risks arising from climate change and on related tax policy incentives, POLITICO’s Zachary Warmbrodt reports.
- Sen. Ron Wyden (D-OR), who is poised to chair the tax-writing Senate Finance Committee, said in a statement after the hearing, “As we continue to deal with the worst economic crisis in a century, it’s critically important that she be leading the Treasury Department as soon as possible.”
Roundtable’s DeBoer & Policy Priorities
Real Estate Roundtable President and CEO Jeffrey DeBoer commented in the media this week on the Biden Administration and policy priorities ahead.
- In Commercial Property Executive’s Jan. 22 article, Industry Responds as Biden Kicks Off Tenure (cpexecutive.com), DeBoer states, “There are many serious issues facing the nation, but job number one is winning the ongoing battle against the health and economic consequences of the pandemic.” He added, “In addition, we expect robust debate and activity around housing availability, infrastructure and immigration reform and expanding opportunities for all Americans.”
- The Roundtable and 12 national real estate organizations on Dec. 16, 2020 congratulated Joe Biden and Kamala Harris on their historic election and submitted detailed policy recommendations to the incoming administration on COVID-19 relief, sustainability, housing, immigration, tax policy infrastructure, and other policy issue areas. (Roundtable Weekly, Dec. 18, 2020)
- The industry letter acknowledges the many economic and social challenges confronting the country and the Biden Administration, including the national response to COVID-19. The letter and supporting policy memo were also sent to every congressional office on Capitol Hill.
- DeBoer also participated in Jan. 19 BisNow webinar with Roundtable Member Steven Witkoff, Chairman & Chief Executive Officer of Witkoff, and W. Edward (Ed) Walter – Global Chief Executive Officer of the Urban Land Institute and current co-chair of The Roundtable’s Research Committee – that focused on future economic stimulus proposals from the Biden Administration and industry priorities.
- DeBoer said, “What Biden has suggested already is very positive. We need to go bold and big. So when we look at this next wave of legislation, we’re going to be looking for how does it distribute the vaccine because until that occurs it is going to be difficult for cities and states and businesses to regain their footing. We have also worked hard on the concept of rent assistance and we have urged that impacted businesses also be able to get some rental assistance.”
- He added, “We are also very hopeful that in the next bill we can get some additional clarity on liability concerns for businesses. And going forward, we’re concerned that for leasing and refinancing, there may be a need to have a program along the lines of what was established after 9-11 for terrorism insurance. There may be a need for a pandemic risk insurance federal program that would allow people to help mitigate the risk of a future pandemic and that insurance would be available to any kind of business.”
The Roundtable’s policy agenda and the Biden Administration’s proposals will be discussed during both The Roundtable’s business meeting and policy advisory committee meetings during the organization’s State of the Industry Meeting on Jan. 26-27 (all virtual).
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Roundtable Members Participate in Nationwide Illumination of Buildings to Honor COVID-19 Victims
Real Estate Roundtable members on Jan. 19 joined other building owners and operators around the nation to illuminate private and public buildings in a “national moment of unity and remembrance” to honor those Americans who have fallen to COVID-19. (Photo: Denver’s City and County Building, credit: Patricia Duncan )
- Dozens of Roundtable member organizations responded to a request for participation from the Presidential Inaugural Committee. Their building illumination efforts coincided with a lighting ceremony around the Lincoln Memorial Reflecting pool in Washington, D.C., and the ringing of bells in churches and towns nationwide to commemorate the moment of remembrance.
- The Roundtable on Jan. 19 issued the following statement about the memorial event, which was held as part of the inauguration of President Joseph R. Biden and Vice President Kamala D. Harris:
- “The Real Estate Roundtable encourages all Americans to support the peaceful transfer of power to the new Biden-Harris Administration, and urges that the 117th Congress unify across party lines to address the critical health, economic and social challenges now facing the American people.
- “This evening, in association with the inauguration of the Biden-Harris administration, our nation will recognize the nearly 400,000 fellow citizens who have died over the past year due to COVID-19.”
- “Building owners are proud to join national policy makers, religious leaders, business figures and others commemorating tonight’s event by lighting many of our buildings nationwide as part of the #COVIDMemorial.”
- “The Roundtable is committed to work positively with our elected officials to help our nation stabilize and rebuild from the severe hardships caused by the pandemic — and to do so in a manner that affirms and more fully realizes the ideals of equality and opportunity upon which our great nation is founded.”
Photo compilations of illuminated buildings in towns and cities nationwide who participated in the tribute were posted on media outlets such as Axios, the San Jose, CA publication The Mercury News and ABC News.
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Joe Biden Takes Oath as 46th President, Signs Executive Orders on Pandemic Response, Evictions, Climate, Immigration and Racial Equity
On January 20, the peaceful inauguration of Joe Biden as the 46th president of the United States and Kamala Harris as vice president took place on the steps of the Capitol, where two weeks prior a violent mob attempted to overturn the electoral process.
- President Biden in his inaugural address emphasized themes of national struggle and unity. He stated, “We must end this uncivil war that pits red against blue, rural versus urban, conservative versus liberal. To overcome these challenges – to restore the soul and to secure the future of America – requires more than words. It requires that most elusive of things in a democracy: Unity.”
- Vice President Harris – who is the highest-ranking woman of color in U.S. history – stated during a post-inaugural event, “This, too, is American Aspiration. This is what President Joe Biden has called upon us to summon now. The courage to see beyond crisis. To do what is hard. To do what is good. To unite.” (New York Times, Jan. 21)
Coronavirus Response
The new administration’s top priority is to develop and manage a coordinated, national public health and economic response to the COVID-19 pandemic. On its first two days in office it issued:
- A “National Strategy for the COVID-19 Response and Pandemic Preparedness,” which contains overarching goals to mount a “safe, effective comprehensive vaccination campaign” and to “safely reopen schools, businesses, and travel;” and
- A flurry of Executive Orders and communications to establish a White House COVID-response coordinator, a mask-wearing mandate for federal workers and on federal properties, and a commitment to re-join the World Health Organization. (Fact Sheet summarizing initial COVID response steps)
Additional “Day One” Orders
In addition to addressing COVID-19, the Biden Administration moved swiftly on “Day One” with 17 Executive Orders (EOs) covering a range of issues. (New York Times and CQ, Jan. 20) These actions include:
- Extending the federal residential eviction moratorium (scheduled to expire on January 31) through the end of March – with a request to HUD and other agencies to allow forbearance on payments of federally-guaranteed mortgages;
- “Restoring science” and “tackling the climate crisis,” such as by rejoining the Paris Climate Agreement, and directing the EPA and the Energy Department to reassess Trump-era rules on building energy codes as well as standards for appliance and motor vehicle fuel efficiency;
- Advancing racial equity and support for underserved communities; and
- Restoring protection for “Dreamers” under the Deferred Action for Childhood Arrivals (DACA) program, ending the ban on travel to the U.S. from primarily Muslim countries, and other immigration-related matters. The Roundtable joined an amicus brief to the U.S. Supreme Court last year urging that DACA protections should be re-instated for immigrants brought to the United States as children. (Roundtable Weekly, June 19, 2020 )
- (Biden has also proposed a legislative immigration overhaul that would provide a path to citizenship for the undocumented, which has already been met with some GOP opposition and “underscore[s] that the measure faces an uphill fight in a Congress that Democrats control just narrowly.” (AP, Jan. 19).
References:
- Fact Sheets from Biden Admin on Executive Orders – Jan. 21 and Jan. 22
- Exec Orders and Agency Review List on Climate Change
- White House, Presidential Actions
- Politico, Jan. 22, “Biden executive orders: The 17 things Joe Biden did on Day One”
The Biden Administration’s initial actions and policy agenda will be a focus of The Roundtable’s Jan. 26-27 State of the Industry Meeting (held virtually). Speakers will include:
- Sen. Sherrod Brown (D-OH) – Chairman, Senate Banking, Housing and Urban Affairs Committee
- Sen. Joe Manchin (D-WV) – Chairman. Senate Energy and Natural Resources Committee
- Sen. Ron Wyden (D-OR) – Chairman, Senate Finance Committee
- Dr. Scott Gottlieb – 23rd Commissioner of the U.S. Food and Drug Administration
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Penny Pritzker – 38th Secretary of Commerce (2013-2017); Founder and Chairman of PSP Partners
The Roundtable will also unveil its 2021 National Policy Agenda publication soon, which will address policy issues in in the areas of tax, capital and credit, energy and climate, homeland security, and infrastructure and housing.
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The Real Estate Roundtable Joins Biden-Harris Inaugural Event Honoring Americans Who Have Fallen to COVID-19
The Real Estate Roundtable issued the following statement regarding this evening’s nationwide event to illuminate buildings and landmarks, as part of the inauguration of President-elect Joseph R. Biden and Vice President-elect Kamala D. Harris:
The Real Estate Roundtable encourages all Americans to support the peaceful transfer of power to the new Biden-Harris Administration, and urges that the 117th Congress unify across party lines to address the critical health, economic and social challenges now facing the American people.
This evening, in association with the inauguration of the Biden-Harris administration, our nation will recognize the nearly 400,000 fellow citizens who have died over the past year due to COVID-19.
Building owners are proud to join national policy makers, religious leaders, business figures and others commemorating tonight’s event by lighting many of our buildings nationwide as part of the #COVIDMemorial.
The Roundtable is committed to work positively with our elected officials to help our nation stabilize and rebuild from the severe hardships caused by the pandemic — and to do so in a manner that affirms and more fully realizes the ideals of equality and opportunity upon which our great nation is founded.
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Inauguration Activities to Include Nationwide Illumination of Buildings to Honor COVID-19 Victims; Roundtable Members Asked to Participate
The Presidential Inaugural Committee has announced it is hosting a memorial to illuminate buildings in cities and towns across the country next Tuesday evening, as part of a series of online and virtual events for the Biden-Harris inauguration. The building illumination is intended as a “national moment of unity and remembrance” in honor of the American people who have fallen to COVID-19. (Inaugural Committee fact sheet and Building Owner Participation Form)
- The nationwide memorial to illuminate buildings will start at 5:30 p.m. EST on Tuesday, January 19, 2021. The lighting ceremony will then roll westward from time zone to time zone, taking place at 5:30 pm local time in each zone.
- The Inaugural Committee has requested support from Roundtable members to participate in the memorial to honor those who died from the coronavirus. Participation in the event is voluntary.
- Building owners and managers willing to illuminate their assets are asked to complete this short Google docs form to be submitted to the Inaugural Committee.
- The Committee also requests that owners and managers who participate in the event record or photograph their building illuminations to share on social media platforms.
- Further questions can be emailed directly to the Presidential Inaugural Committee at publicengagement@bideninaugural.org.
- The ceremony will be timed with a lighting around the Lincoln Memorial Reflecting pool in Washington, D.C., and the ringing of bells in churches and towns nationwide to commemorate the moment of remembrance.
Roundtable members who opt to participate on January 19 are kindly requested to inform our staff by email (Duane Desiderio, Senior Vice President and Counsel, ddesiderio@rer.org) and (Abigail Grenadier, Communications Director, agrenadier@rer.org). We would like to keep track of the building square footage participating in this voluntary event and our organization’s collective involvement.
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President Trump Faces Second Impeachment Trial as President-elect Biden Proposes $1.9 Trillion Pandemic Aid Package
House Democrats, joined by 10 Republicans, on Jan. 13 voted 232-197 to impeach President Trump for a historic second time on charges that he incited last week’s insurrection at the Capitol that left five people dead, including a Capitol Hill police officer. (NBC News and Fortune, Jan. 13)
- No date has been set yet for Trump’s second impeachment trial in the Senate, although it could begin on the day of the inauguration of President-elect Biden and Vice President-elect Harris. The timing is uncertain as two new Democratic Senators from Georgia, Jon Ossoff and Raphael Warnock, await state electoral certification early next week. Vice President-elect Harris’s replacement—California Secretary of State Alex Padilla—is expected to be sworn in shortly after the inauguration.
- Some Democrats want a later trial date to give the incoming Administration time to establish their policy agenda and work on immediate COVID-19 priorities. (Wall Street Journal, Jan. 14)
- “We are working with Republicans to try to find a path forward,” said a spokesperson for Sen. Chuck Schumer, who will become majority leader. (AP, Jan. 14)
- As the Jan. 20 Biden-Harris inauguration approaches, 21,000 National Guard troops have been authorized for deployment to Washington, which is approximately three times the total number of American troops deployed in Iraq, Afghanistan, Somalia and Syria. Troops have not been stationed in the Capitol since the US Civil War in the 1860s. (Washington Post, Military Times, Jan. 14 and New York Times, Jan. 13)
- The Roundtable’s Homeland Security Task Force and Real Estate Information Sharing and Analysis Center (RE-ISAC) has been working with groups who are preparing and planning for potential related protests which may occur in the District of Columbia and in State capitals across the United States. (Homeland Security Today, After the Capitol Riot, What Is Your State of Preparedness?, Jan. 14)
- As the combined force strength of National Guard military personnel and federal and state law enforcement agencies continues to expand in Washington, DC, the attention is shifting to making sure that State capital complexes, government facilities (owned and leased) and adjacent properties are on alert, well-defended and are supporting this effort, as intelligence continues to be collected.
Biden’s “American Rescue Plan”
- President-elect Biden last night proposed a $1.9 trillion pandemic aid package that may attract Senate Republican opposition over Democratic priorities, such as aid to state and local governments. (Bloomberg Law, Jan. 14)
- The latest COVID-19 stimulus proposal—called the “American Rescue Plan”—would build on earlier relief packages and provide emergency measures to meet immediate health care and economic needs. The incoming Administration is expected to unveil a broader plan in February before Biden’s first appearance before a joint session of Congress that will focus on long-term goals such as infrastructure and climate change. (B-Gov and The Washington Post, Jan. 14)
A summary prepared by Brownstein Hyatt Farber Shreck (Jan. 14) describes Biden’s proposed American Rescue Plan as including:
- $350 billion for state and local governments
- $160 billion in funding for a national program of vaccination, testing and other coronavirus containment efforts
- $30 billion in rental and utility assistance for low- and moderate-income households, with an extension of the federal residential eviction moratorium (currently set to expire on Jan. 31) until Sept. 30, 2021
- $1,400 per person stimulus checks for qualifying individuals (in addition to the $600 approved in December)
- $400 per week in supplementary unemployment benefits through September
- $130 billion to help schools reopen
- $25 billion for childcare providers
- $20 billion for hard-hit public transit agencies
- $15 billion in directs grants to small businesses, and a $35 billion investment in state and local small business financing programs to leverage additional lending
- The proposal would also raise the minimum wage to $15 an hour and expand food assistance, child tax credits, and medical and family leave. (Washington Post, Jan. 14)
- House Speaker Nancy Pelosi (D-CA) and Senate Democratic leader Chuck Schumer (D-NY) on Jan. 14 supported Biden’s stimulus package proposal. “The emergency relief framework announced by the incoming Biden-Harris administration tonight is the right approach,” Pelosi and Schumer said in a joint statement. “We will get right to work to turn President-elect Biden’s vision into legislation that will pass both chambers and be signed into law.” (Reuters, Jan. 14)
- Biden’s proposal follows the most recent COVID relief package that Congress passed before the holidays, part of omnibus legislation that funds federal operations through September 30, 2021. (Roundtable Weekly, Dec. 22, 2020)
SBA Reopens Paycheck Protection Program (PPP)
- The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, will re-open the Paycheck Protection Program (PPP) loan portal today, Jan. 15, to PPP-eligible lenders with $1 billion or less in assets for First and Second Draw applications. (SBA news release, Jan. 13)
- The portal will fully open on Tuesday, January 19, 2021 to all participating PPP lenders to submit First and Second Draw loan applications to SBA.
- SBA granted initial PPP access earlier in the week for lending in low-income and underserved communities, and to allow “second draw” loans for qualifying small businesses that received credit under earlier phases of the lending program. (Journal of Accountancy, Jan. 13)
The deadline for Second Draw PPP loan applications has been extended to March 31, 2021. (NexTech, Jan. 12 and SBA Interim final rule). Updated PPP Lender forms, guidance, and resources are available at www.sba.gov/ppp and www.treasury.gov/cares.
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