News Ticker

COVID-19 News Round-up for December 4th

Credit: Gowling WLG

Budget, Policy & Stimulus News 

Senators Propose $908B in New Relief 

Following an appeal from Federal Reserve Chairman Jay Powell, a bipartisan group of senators has proposed $908B in new relief and stimulus spending in the wake of the ongoing COVID-19 pandemic. Components of the package include $288B in small business aid, $180B in unemployment benefits and $160B for state and local governments. (Source) 

Glendale Evaluating Funds Allocations 

Glendale is considering how to allocate $9M in planning and development funds, which include $5M of CARES Act monies. Among city staff recommendations are $3.3M for affordable housing, $3.2M for homeless services and $1M for communications technology in public housing. (Source) 

Small Business Leaders Angry About PPP Data Dump 

Citing potential damage to competition and other risks, small business leaders have expressed their displeasure over recent disclosures of Paycheck Protection Program loan approvals. The revised disclosures, which had previously been far less detailed, were compelled by a lawsuit from media outlets seeking detailed information about loans and their recipients. (Source) 

Economic News 

Arizona, U.S. Could See Return to Economic Normal in 2021 

If Congress enacts a new stimulus and relief package and a coronavirus vaccine slows the pandemic’s spread, the economies of Arizona and the United States could both see returns to near normal levels in 2021, according to researchers at Arizona State UniversityGiven its economic health and growth prior to the pandemic, it is possible Arizona’s rebound could outpace the nation as a whole. (Source) 

Hotels Brace for Harsh Winter 

The recent upswing in COVID-19 cases around the country has hotel operators bracing for more pandemic-related impacts. State and local governments around the country are considering travel and business restrictions, and Q4 occupancy rates are expected to drop to around 41.5 percent. If a vaccine proves effective and helps slow the outbreak, forecasters are anticipating a return to near normalcy in the second half of 2021. (Source 

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