COVID-19 News Round-up for March 2nd

Credit: The Business Journals

Budget, Policy & Stimulus News

What’s Next for $1.9T Relief Package?

Now that the House has passed its version of the $1.9T release package sought by the Biden Administration and congressional Democrats, the bill moves to the Senate. The Senate has a complicated budget reconciliation process, and some portions of the bill not directly related to COVID impacts – such as a measure to increase the national minimum wage to $15 – will be stripped out. If and when the Senate passes its version, it will go back to the House for another vote. (Source)

CPLC Wins $5M Wells Fargo Program Grant

Chicanos Por La Causa has announced it received $5M award from Wells Fargo to help enhance relief programs in Arizona, California and Nevada for small businesses that continue experiencing hardship related to the COVID-19 pandemic. Prestamos CDFI, a division of Chicanos Por La Causa, will be responsible for using the awarded funds from Wells Fargo’s Open for Business Fund to address the lack of access to affordable capital for small businesses. (Source)

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