CRS Reports on Government Responses to the Pandemic
In a number of articles and reports, the Congressional Research Service ("CRS") described recent economic initiatives and responses to the COVID-19 pandemic.
A CRS Insight article on COVID-19 financial relief for larger businesses described U.S. government stimulus programs available for medium and large firms, including: the Payroll Support Program, the CARES Act Loan Program, the Main Street Lending Program, the Corporate Paper Lending Facility, the Primary Mark Corporate Credit Facility, and the Secondary Market Corporate Credit Facility. The report provided web resource pages on these programs offered by the Department of Treasury and the Federal Reserve System.
A CRS Insight article on the Paycheck Protection Program and Larger Borrowers reviewed information on the distribution of PPP loans, "executive branch actions taken to address perceived 'abuses' of larger, eligible borrowers and corporate groups," and "oversight options for Congress."
A CRS report on the SBA's Loan Guaranty Program described the SBA's Section 7(a) program, including borrower and lender eligibility standards and program requirements, program statistics and oversight of 7(a) lenders. The report also reviewed governmental actions "to enhance small businesses’ access to capital, including actions taken during and immediately following the Great Recession (2007-2009) and, more recently, to address the Coronavirus Disease 2019 (COVID-19) pandemic’s adverse economic impact on the national economy."
A CRS report on Relief Assistance to Small Businesses examined "congressional action to assist small businesses during and immediately following the Great Recession (2007-2009)," and reviewed "legislation to assist small businesses adversely affected by the COVID-19 pandemic."
A CRS report on SBA funding described general appropriations, developments and trends since fiscal year 2000.
A CRS report on the Global Economic Effects of the pandemic described the challenges "that make it difficult to estimate the full cost to global economic activity" and provided an appendix on the "Measures Implemented and Announced by Major Economies in Response to COVID-19."