NASBP Focal Point - December 17, 2020

Legislative News at a Glance

Two state legislatures and U.S. Congress are currently in session: Massachusetts and New Jersey.

Territories: Guam and U.S. Virgin Islands.

*Click here for a complete 2020 calendar of the states’ original legislative session dates.

In This Issue

Federal Report
COVID Relief/Funding Bill
Recent Cabinet Announcements
NASBP Virtual Fly-In
Happy Holidays

Federal Report

COVID Relief/Funding Bill — As we go to press, negotiations continue in earnest to finalize a COVID relief stimulus package between the Big Four–Speaker Pelosi, House Leader McCarthy, Senate Majority Leader McConnell, and Minority Leader Schumer. The COVID relief package, which will be attached to a federal government spending bill and must pass by tomorrow at midnight to avoid a government shutdown, is in the neighborhood of $900 billion. Leader McConnell committed that “we agreed we will not leave town until we’ve made law.” Provisions of the COVID relief package are believed to include: stimulus checks in the range of $600 to $700; unemployment weekly benefits of $300 lasting through March 2021; $325 billion in small business relief, which includes $257 billion dedicated to the Paycheck Protection Program; and funding for vaccine distribution, schools, transportation, and health care. As reported, what was not included in the COVID package includes funding for state and local governments, which was a priority of the Democrats, and liability protections for businesses that reopen during COVID, which was a priority of the Republicans. President-elect Biden’s administration is expected to pursue additional COVID relief funding for states and localities once he takes office on January 20. The COVID package will be paired with a $1.4 trillion omnibus spending bill, on which the House is expected to vote on Friday, while the Senate may take action on Saturday. Because it is likely that Congress will not pass a government funding bill by midnight Friday, it will likely pass a stopgap funding bill in order to avoid a temporary government shutdown.

Recent Cabinet Announcements

This week, President-elect Joe Biden announced that he will nominate former South Bend mayor Pete Buttigieg as secretary of transportation, saying that this job will be essential to achieving his campaign pledge to “build back better.” According to Biden, Buttigieg was selected “because the department is at the intersection of some of our most ambitious plans.”

During his campaign, Biden proposed spending $2 trillion on climate-friendly infrastructure, which includes surface transportation, aviation, water, renewable energy, public school construction, and rural broadband projects. Senator Susan Collins, the Maine Republican who chairs the transportation appropriations subcommittee, said there “may well be” a chance to doing a big infrastructure package with the Biden administration next year. “This is an issue that really has bipartisan support,” said Collins.

NASBP Virtual Fly-In

On March 25, 2021, NASBP and The Surety & Fidelity Association of America will hold their first joint Legislative Fly-In. Due to COVID-19, the fly-in will be virtually. So, while there will be no need to travel in order to participate, registration is required.

The 2021 virtual NASBP and SFAA Legislative Fly-in will enable their respective members to engage in policy discussions with congressional offices that otherwise would not be possible. Your participation as a surety advocate is critical to ensure federal policymakers on Capitol Hill understand the significant role bonds play to advance public works infrastructure projects.

NASBP’s consultant will be scheduling the appointments with the congressional offices. If you haven’t participated in a fly-in in the past, take this opportunity to make March 25 your first fly-in! NASBP will provide more information about the fly-in in early 2021. Direct any questions to Larry LeClair, NASBP’s Director of Government Relations, and register today!

Happy Holidays

Focal Point will resume publication in the new year. From the authors, we wish you and your family happy holidays and a healthy 2021. As always, please keep us apprised of legislative and/or regulatory matters in your respective states that may require NASBP’s engagement.

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Focal Point is an e-bulletin sent to members and friends of the National Association of Surety Bond Producers when most state legislatures are in session and as needed thereafter. To obtain copies of Bills or other materials discussed above, contact advocacy@nasbp.org. Copyright © 2020. NASBP. All rights reserved.