Less than a week after the House of Representatives passed an updated “Phase 4” coronavirus (COVID-19) stimulus bill, the HEROES Act, President Donald Trump announced he was calling off stimulus negotiations until after the November election. Shortly after the President’s announcement, industry groups, including the National Association of Home Builders (NAHB) and the National Lumber and Building Material Dealers Association (NLBMDA) urged talks to resume on a stimulus package.
In a public statement, NAHB chairman Chuck Fowke said the White House and congressional Republican and Democratic leaders need to put “politics and posturing aside and think about the American people.”
“It’s time for all sides to get back to the negotiating table and to quickly hammer out a coronavirus stimulus package that will provide economic relief to American homeowners, renters, and small businesses,” Fowke wrote.
The NLBMDA is urging members to get in touch with members of the Senate working to craft a Phase 4 COVID relief bill, which has already been passed by the House of Representatives. The House bill includes a number of NLBMDA-backed priorities, such as an expansion of the Low-Income Housing Tax Credit, according to the NLBMDA.
In July, the NLBMDA submitted a letter to the Senate outlining its priorities for a Phase 4 relief bill, which include scaled-back unemployment benefits to incentivize a return to work, a strong employer liability protection system, an expansion of the Small Business Association loan funding, and increased access to personal protective equipment and testing.
Shortly after his initial announcement, President Trump, in a series of tweets, called for Congress to pass relief for airlines, money for the Paycheck Protection Program (PPP), and individual stimulus funds.
The $2.2 trillion HEROES Act legislation passed last week included supplemental unemployment insurance, an expansion of the employee retention tax credit, a renewal of the PPP, state and local government aid, and direct payments to individuals.
