Sen. Justin Brown’s Legislative Column for April 15, 2020

 

 

Help in a Time of Crisis

The economic shutdown resulting from the COVID-19 pandemic has forced businesses to close and workers to lose their jobs. Many Missourians are suffering. In response to the crisis, Congress passed a series of measures intended to bring relief to the American people. The largest of these, the Coronavirus Aid, Relief and Economic Security (CARES) Act, directs more than $2 trillion of stimulus funding to individuals, businesses, institutions and government entities. Here are some of the programs that offer assistance to businesses and employees:

ECONOMIC IMPACT PAYMENTS

The CARES Act provides for a one-time direct $1,200 payment to nearly every American who earns less than $75,000 per year. Married couples will receive $2,400. Reduced payments will be made to individuals earning up to $99,000. Tax filers and Social Security recipients will receive the payment automatically and no further action is required on their part. Low-income workers, certain veterans and individuals with disabilities who aren’t required to file a tax return will need to register for the payments. You can find more information, or register for payments online at www.irs.gov.

MISSOURI UNEMPLOYMENT INSURANCE

Employees who have lost their jobs should register for unemployment benefits through the Missouri Department of Labor’s online portal at www.uinteract.labor.mo.gov. The website offers videos and tutorials to guide applicants through the process. Do not call unless absolutely necessary. Ninety percent of claimants are able to complete their applications online without assistance. The Department of Labor’s website provides answers to frequently asked questions at www.labor.mo.gov/coronavirus.

FEDERAL PANDEMIC UNEMPLOYMENT COMPENSATION

The CARES Act passed by Congress provides a federal supplement to unemployment insurance payments offered by states. Anyone eligible for at least $1 in unemployment benefits through Missouri’s Division of Employment Security will receive an additional $600 per week. These payments are effective the week beginning March 29 and will continue through the week ending July 25. Some unemployment claimants have already begun receiving the supplemental payment and all others will see the increase soon. This program also provides for an additional 13 weeks of unemployment insurance. For more information, read the online FAQ documents posted at www.labor.mo.gov/coronavirus.

FEDERAL PANDEMIC UNEMPLOYMENT ASSISTANCE

The Federal Pandemic Unemployment Assistance Program (PUA) will provide assistance to self-employed individuals, “gig” workers and independent contractors who do not qualify for unemployment insurance. Until the program is operational, online applicants will receive a “not an insured worker” response. Once active, the PUA program will provide up to $320 per week to those who qualify. Participants will also receive the $600 per week federal supplement available under the Federal Pandemic Unemployment Compensation Program. The Missouri Department of Labor expects to begin processing claims the week of April 19. Applicants will be required to show proof of income and employment. For more information, read the online FAQ documents posted at www.labor.mo.gov/coronavirus.

PAYCHECK PROTECTION PROGRAM

Any business or non-profit organization with fewer than 500 employees (including farming operations, sole proprietors, independent contractors and self-employed persons) may apply for a forgivable 1% interest rate loan through local lenders approved by the Small Business Administration. Businesses may borrow up to 2.5 times their average monthly payroll cost. The loan does not need to be repaid if full employment is maintained and the money is used to pay salaries, wages, rent, mortgage interest or utilities. Businesses may apply through any existing SBA 7(a) lender, including participating credit unions or Farm Credit System institutions. For more information, visit www.sba.gov.

SBA ECONOMIC INJURY DISASTER LOANS

Business with fewer than 500 employees that have been impacted by the COVID-19 crisis may borrow up to $2 million through the U.S. Small Business Administration. Most small businesses and nonprofit (or faith-based) organizations in operation before Feb. 1 are eligible. Borrowers will be charged 3.75% interest (nonprofits pay 2.75% interest) and can take up to 30 years to repay the loan. Repayment begins 12 months after the loan is made. For more information, or to apply online, visit www.sba.gov.

SBA ECONOMIC INJURY DISASTER LOAN ADVANCE

Applicants for an SBA economic disaster loan are eligible for an advance of up to $10,000. The advance does not need to be repaid, even if the loan application is denied. Borrowers must request an advance at the time of application. For more information, visit www.sba.gov.

USDA MARKETING ASSISTANCE LOANS

Maturity dates for USDA Marketing Assistance Loans requested prior to Sept. 30, 2020, have been extended from nine months to 12. Current commodity loans must be in good standing with a current maturity date of March 31, 2020, or later.

WAIVERS FOR AGRICULTURAL PRODUCERS

Agricultural production is recognized as an essential activity during the COVID-19 crisis and farm workers are considered essential employees. Agricultural producers concerned about travel restrictions relating to COVID-19 may download an employee letter template from the Missouri Department of Agriculture at www.agriculture.mo.gov/emergency/covid-19.  The department’s website also provides information about changes to agriculture-related programs due to the coronavirus. The Missouri Department of Transportation has announced a free, temporary overweight permit that allows haulers to transport up to 100,000 pounds on any state highway or interstate, as long as certain criteria are met. For more information, visit www.modot.org.

ADDITIONAL COVID-19 RELIEF

Principal and interest payments on all federal student loans have been suspended through September 30, 2020. For more information visit www.studentaid.gov. The deadlines for federal and state income tax filing have been extended until July 15. For information about federal taxes, visit www.irs.com. To learn about Missouri taxes, visit www.dor.mo.gov. Missouri driver’s licenses and vehicle registrations expiring in March or April have been granted a 60-day extension. Purchasers of new vehicles may register their vehicles and apply for a title online. For more information visit www.dor.mo.gov.

It’s my honor to serve as your senator for the 16th District. If you have questions or need any assistance, please call my office at 573-751-5713 or log onto my webpage at https://www.senate.mo.gov/brown for more information.