COVID 19 Update 26.1
Cuomo Extends PAUSE to April 29th
Gov. Andrew Cuomo said Monday he would extend the statewide “PAUSE” order, along with school closures, through April 29 because, he says, there is evidence that social distancing is working. And now is not the time to let up.
“I know that’s a negative for many, many reasons,” Cuomo said on Monday in his daily briefing. “I know what it does to the economy. But I said from day one I’m not going choose between public health and the economy.”
______________________________________________
SBA and Treasury Have Made Improvements to Their Respective Websites Related to the Paycheck Protection Program
The SBA has made much needed improvements to their Paycheck Protection Program (PPP) webpage, These improvements include a searchable lender directory.
US Department of the Treasury has set up a webpage with helpful guidance on the PPP for lenders and borrowers which can be found here.
________________________________________________________
Workers Afraid to Return to Factories Amid Pandemic
Bloomberg Reports that companies trying to reopen factories that have closed because of the coronavirus pandemic are encountering resistance from workers who fear infection while at the workplace. Some workers are demanding masks, safety gear and extra cleaning.
Read the Story and Bloomberg
_____________________________________________
IRS Guidance on Tax Credits and the Impact of ACA Look-Back Measurements Due to COVID 19
Our Friends and Associate Members at Rose & Kiernan Insurance provide these 2 informative articles. The first on IRS Guidance on tax credits for paid leave and the second on the look back measurement method for determining ACA status.
IRS guidance on tax credits for COVID-19 paid leave
Look-back measurement method and COVID-19
_________________________________________________________
Coronavirus Outbreak Sends Consumer Expectations Plummeting
The New York Fed’s Center for Microeconomic Data released results from its March 2020 Survey of Consumer Expectations, which provides information on consumers’ economic expectations and behavior. The March survey, which was fielded between March 2 and 31, records a substantial deterioration in financial and economic expectations, including sharp declines in household income and spending growth expectations.
_________________________________________________________
Empire Center: NYS Department of Health Publishes Age and County Data
Manufacturers tend to be numbers people who appreciate a good graphic display of data. The folks at the Empire Center do too and they have developed a series of graphs to illustrate some interesting facts.
For example the data confirm that the virus is concentrated in the New York City metropolitan area, with the city itself accounting for almost three-quarters of the 3,565 deaths through Friday. When adjusted for population, however, the death rates in the neighboring counties of Nassau and Westchester have been almost as high as the city’s, with Rockland and Suffolk not far below.
Read More at the Empire Center
