The U.S. Senate has passed a $2 trillion funding package – the “Coronavirus Aid, Relief, and Economic Securities (CARES) Act” (S.3548) – aimed at providing additional economic relief to individuals, families, and businesses from the impact of COVID-19. Provisions in this new package include direct cash payments to individuals and families, expansion of unemployment benefits, an increase in loans to small businesses, assistance for large businesses (airlines, hospitality industry) in severely distressed sectors of the economy, and additional funding for hospitals. We have also compiled a high-level summary of some key provisions in this bill that could impact the manufactured housing industry.
The House is expected to pass this legislation tomorrow. This is the third federal intervention by policymakers as the national emergency surrounding COVID-19 escalates. Last week, the “Families First Coronavirus Response Act” was the second intervention signed into law and guarantees free COVID-19 testing, secures paid emergency leave, enhances Unemployment Insurance, strengthens food security initiatives, and increases federal Medicaid funding to states. MHI joined a coalition of groups to secure changes to the mandatory paid leave provision that was included in this second relief package. The first federal intervention was an $8.3 billion package for small businesses adversely impacted by COVID-19, which was signed into law on March 6.
MHI is working with other housing industry groups and Congress to address the needs of the manufactured housing industry during this crisis. In the third package, MHI advocated for rental assistance for property owners, as well as financial mitigation measures for community owners. MHI also urged Congress to help businesses survive the crisis by ensuring action is being take to reduce their costs, and increase their cash flow in the coming weeks.
MHI has created a website to keep you apprised of COVID-19 developments that impact manufactured housing. The website provides helpful links, breaking news, and an up-to-date look at what MHI is working on in Washington and around the country. Visit our COVID-19 News and Updates page.
If you have any questions, please contact MHI’s Advocacy and Communications Department at MHIgov@mfghome.org or 703-558-0675.