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COVID 19 Update 25

The FY 2021 Enacted State Budget

It goes without saying that this has been a tough fiscal year as the state battles the current COVID-19 pandemic. On April 2, a day after the budget deadline, the State Legislature passed a final FY2021 State Budget. Below you will find an overview report on some of the main budget bills that the Manufacturers Alliance had been monitoring for our member companies and organizations since the beginning of the year. If you have any further questions, please contact me at 315-474-4201 ext.13.

The Senate and Assembly have now adjourned after passage of the budget. It is unclear at this time when the State Legislature may reconvene in Albany this legislative session. We will keep you up to date on any further developments.

Read our summary of the FY 2021 Enacted State Budget

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Newly Available CARES Act Loans: 10 Things Small Businesses Need To Know

Most Readers of this blog will by now have a pretty good understanding of the SBA’s EIDL Loans and PPP program.  That said this article in Forbes offers a pretty simple summary and captures some of the issues related to implementation as well.

Read More in Forbes

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ESD Website Has Been Vastly Improved and Streamlined To Deal With Crisis

The Empire State Development (ESD) website: ESD has been streamlining their website. 

    1. Newly updated section guiding folks through the SBA loan programs
    2. Paycheck Protection Program Overview and resources
    3. Regularly updated Business FAQ page
    4. A link to information on how companies can help New York State’s response to COVID-19 by selling supplies, re-purposing production, or donating space or materials

We find the FAQ section particularly helpful.

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President Trump ‘Thinking About’ Eco Panel as He Looks to U.S. Reopening

Bloomberg Reports that the President is “…thinking about it,” Trump said Saturday at a White House Press conference. “I continue to say, the cure cannot be worse than the problem itself.”

Trump early tweeted an endorsement of a plan offered by Dana Perino, former press secretary to President George W. Bush. Perino, suggested assembling “a nonpartisan/bipartisan mix of experts across industry sectors” who could advise the president about overcoming the economic difficulties stemming from harsh social distancing measures suggested by the federal government.

Perino said this group would complement the team led by Vice President Mike Pence, which includes health, national security and emergency preparedness officials. 

Read More at Bloomberg

 

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