Lawmakers responded quickly to alleviate long-term damage to the economy by providing the Paycheck Protection Program (PPP) as a temporary source of liquidity for small businesses. Although the PPP has had a rough start, the lessons learned over the last two months can guide the Small Business Administration (SBA) to make improvements. Continue Reading
This post explores the software systems used by state and federal governments to implement three provisions of the CARES Act and the underlying causes behind their technological failures. Continue Reading
Although fewer than 1% of employees were furloughed in the Great Recession of 2007-2009, the coronavirus pandemic of 2020 has triggered a record number of furloughs. Large companies including Disney and Best Buy have furloughed thousands of workers. Continue Reading
The initial relief appropriations of the CARES Act have been exhausted, but the needs of small business remain massive and urgent. Congress should move quickly but thoughtfully to approve additional funding for small business assistance, with improved procedures for approval and allocation. Continue Reading
On March 27, Congress passed the third legislative relief package, the Coronavirus Aid, Relief and Economic Security (CARES) Act, to stimulate the economy and help workers. What are the most relevant provisions in the CARES Act that benefit newly minted college graduates? Continue Reading
The authors discuss the proposal to repeal the cap on the state and local tax deduction and why that would be a mistake, especially given the pandemic and the policy responses that should be enacted. Continue Reading
In this post, the authors discuss the main provisions of three emergency funding bills passed by Congress and then discuss general rules for evaluating current and future policies designed to mitigate long-term damage to the economy from the coronavirus pandemic. Continue Reading