Stimulus Package Update!
Today, the Senate continues to work on a compromise economic stimulus bill. Congress is back at the negotiating table. During these negotiations, Senate Democrats have been working to improve the GOP bill and are focusing on the following priorities for Indian country:
- An increase in the tribal stabilization fund from 0.5% to at least 2%;
- An increase in the TPA from $453M to $900; and
- Making sure tribal enterprises have flexible access to the $425B loan guarantee and loan forgiveness funds, as well as provisions to improve tribal government parity for purposes of paid leave taxes, unemployment insurance reimbursements, and related provisions to address significant impacts on closed tribal government-owned operations.
Speaker Nancy Pelosi (D-CA) introduced a House stimulus bill today. The House bill provides focus on addressing the immediate needs of governments and communities. It establishes a $200B States and local government stabilization fund, including $10B for Indian tribes (5%). Unfortunately, the Senate bill continues to focus on corporations and business. The Senate $20B government stabilization fund provides only 0.5% ($100M) for Indian tribes to cover billions in losses. It is crucial to provide for the unimaginable needs of both our governments and our small businesses in this package.
We will keep you updated on the progress of these negotiations and more specifically what relief there is for tribal governments and tribal enterprises. If you have any questions regarding this alert please contact Danielle Her Many Horses at email@example.com or by phone at (202) 255-6073.