On Wednesday, the Senate passed H.R. 7010, Paycheck Protection Program (PPP) Flexibility Act of 2020, by voice vote. This measure would make changes to the PPP program by increasing the loan forgiveness period to 24 weeks, change the 75-25 rule to a 60% payroll threshold, extend the period for which owed funds may be repaid to five years, allow payroll tax to be deferred by PPP recipients, and extend the deadline for rehiring individuals to June 30, 2020. The President signed the legislation into law on Friday.
Additionally, MassBio issued a message on the current state of our country and the organization’s intent to use its voice to aggressively stand-up for change, speak out against racism and discrimination, and demand accountability.
Phase Two of Massachusetts’ reopening plan begins Monday. As outlined by the Governor on Saturday, retail storefronts can reopen for browsing at 40% maximum capacity (8 people per 1,000 square feet) with mask and social distancing requirements; restaurants can reopen for outdoor dining only; day camps and childcare facilities can open with restrictions; healthcare providers can resume elective procedures and routine office visits; residential facilities can allow outdoor visits; organized sports can resume; hotels, motels, inns, and other lodgings can reopen to guests; and car dealerships, playgrounds, driving ranges, flight schools, and funeral homes can reopen.
Additionally, the Massachusetts Health Policy Commission (HPC) is planning to release their prescription drug coupon study at their virtual meeting on June 10th. The meeting can be live streamed from their YouTube page.
Also this week, MassBio will host a Town Hall on June 9th with Congresswoman Katherine Clark who will share insights on the federal government’s work around COVID-19, the political landscape in DC, and the current state of our country. A recording of the event will be shared on MassBio’s YouTube channel. And on Friday, Senator Michael Rodrigues, Chairman, Senate Committee On Ways And Means, will join MassBio CEO Bob Coughlin for our next Policymakers Live event. You can register, here.