The bill focuses on urgent consumer and business relief; without impact to the ARM industry.
The U.S. Senate voted 52-47 against a narrower coronavirus relief package proposed as Congress returned to session after the Labor Day holiday, Roll Call reports.
The bill, including $500 billion in funding, which is approximately half of the $1.1 trillion package proposed by Republicans in July, needed 60 votes to pass in the Senate.
It also proposed $300 in weekly federal unemployment insurance, additional Paycheck Protection Program Funding and liability protections from coronavirus-related lawsuits, The Hill reports.
Senate Majority Leader Mitch McConnell, R-Ky., said, according to The Hill, the narrow provisions in the bill should garner bipartisan support, however Democrats aren’t expected to sign on.
Senate Minority Leader Charles Schumer, D-N.Y., and House Speaker Nancy Pelosi, D-Calif., said earlier this week the bill is a “non-starter” and doesn’t go far enough to address problems, according to The Hill.
Before the bill’s introduction, ACA worked closely with Congress to ensure problematic provisions of the legislation impacting the accounts receivable management (ARM) industry were modified or not included in the next legislative package.
These advocacy efforts paid off, however there may be additional packages introduced this year with components of The Health, Economic Assistance, Liability Protection and Schools (HEALS Act) from the Senate and the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act from the U.S. House of Representatives.
ACA’s advocacy team continues to educate lawmakers crafting those.
ACA has been working with members of Congress to educate them about problematic provisions in the HEROES Act, which would impede the work of the industry.
The Washington Post also reported Thursday that the White House may consider issuing more executive actions to provide funding to certain groups.
ACA will continue to follow the economic relief legislation to provide updates for readers.
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