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Under the CARES Act, a $500 billion pool of money was created to make loans, loan guarantees, and other investments for distressed businesses that do not qualify for the small business relief, including airlines, large nonprofit companies, states, and municipalities.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act appropriates $150 billion toward COVID-19 relief for fiscal year 2020. The vast majority of this amount will go to the states, although $3 billion is reserved for distribution to the District of Columbia and U.S. territories, and $8 billion will go to Tribal governments.
Teva Pharmaceuticals filed suit against the United States Food and Drug Administration (FDA) alleging that its glatiramer (Copaxone) falls under the revised definition of a “biological product” and should be transitioned to the system established by the Biologics Price Competition and Innovation Act of 2009 (BPCIA).
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, estimated to cost more than $2 trillion dollars, contains multiple tax-related provisions intended to offer relief to both businesses and individuals. Here we outline key provisions of which businesses and individuals should be aware.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides $2 trillion in stimulus in response to the COVID-19 pandemic.
If history is any guide, the ongoing coronavirus pandemic will provide many opportunities for fraudsters to separate the desperate and vulnerable from their money and personal information.
With consumers attempting to navigate quarantine and “shelter-in-place” orders, businesses that sell basic necessities are facing overwhelming demand.
In recognition of the impact the COVID-19 outbreak is having on every facet of life, the U.S. Environmental Protection Agency (EPA) issued a temporary enforcement discretion policy to excuse certain civil violations occurring during and due to the COVID-19 pandemic.
Arent Fox is counseling clients on the business loan programs included in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
On March 24th, the Department of Labor’s Wage and Hour Division issued its first round of guidance regarding the Families First Coronavirus Response Act.
D. Jacques Smith, Randall A. Brater, Alexander S. Birkhold, Michael F. Dearington, Mohammed T. Farooqui, Rebecca W. Foreman, Nadia Patel, Laura Zell
Headlines that Matter for Companies and Executives in Regulated Industries
Arent Fox continues to monitor the FDA activities and scientific reports on COVID-19 and the novel coronavirus.
The DHS and ICE have issued Guidance Documents, Frequently Asked Questions, and a Reporting Template to guide higher education officials in staying in compliance with the applicable rules.
Governor Cuomo directed the Empire State Development Corporation (ESD) on March 27, 2020 to update New York State’s Guidance for various businesses, including construction, under the Governor’s New York State on “PAUSE” Executive Orders (EO 202.6 and thereafter).
COVID–19 Duty Deferral Option Withdrawn by CBP Amidst Continued Requests by Congress for Such Action
After initially accepting requests from importers in light of the novel coronavirus (COVID–19) pandemic to defer payment of duties—a means of relief that the Trump Administration had reportedly been considering—US Customs and Border Protection (CBP) has issued guidance withdrawing this option.
This updates our prior Alert regarding the importation and distribution of face masks and respirators to be used to meet the significant US health care challenges posed by the COVID-19 pandemic.
To address the COVID-19 national emergency, hospitals throughout the country are seeking to bolster their ranks of health care providers.
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security Act (CARES Act), a Senate bill passed just days earlier in response to the public health crisis that has emerged from the spread of COVID-19.
On Friday, March 20, Governor Andrew Cuomo signed the “New York State on PAUSE” Executive Order (“PAUSE,” Executive Order No. 202.8: Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency).
Consumers are stuck at home. How does business continue? We talked with Aaron Jacoby and Russ McRory about the impact of state and local “Stay at Home” orders in California and New York and how dealers and manufacturers can navigate the COVID-19 pandemic.
Since last week when we wrote about the “shelter in place” and “stay at home” orders issued in California, New York, and Illinois, many more states have issued similar orders. The general discussion from our prior alert still applies, but below is an up-to-date list of the states that have adopted the stay-at-home approach to fighting the spread of COVID-19.
The SEC extended its previously granted public company regulatory relief and issued staff guidance yesterday regarding disclosure obligations in light of the continued complications associated with the COVID-19 pandemic.
Earlier this week, the IRS released updates on the status of its operations as the COVID-19 outbreak continues and also on the IRS’s new People First Initiative. In addition, Illinois extended its tax filing and payment deadline (but not the deadline to make estimated tax payments) to match the IRS July 15 deadline.