Sen. Tim Scott (R-SC) had some interesting things to say on the Politico "Morning Money" program about the economic recovery and the potential for future COVID-19 legislation. As a former financial professional and NAIFA member in the days before he entered politics, Scott shows a strong understanding of the issues important to agents and advisors and their Main Street clients.
Specifically, Scott said that version 4.0 of federal COVID-19 legislation is likely to include relief targeted for particularly hard-hit sectors of the economy, including landlords and retailers. Other components being hammered out include:
- Additional small business assistance
- Overtime pay for first responders
- Liability protection for businesses getting employees back to work
- Safeguards against unemployment payments acting as disincentives for people returning to work
- The possible inclusion of 501(c) organizations in the Paycheck Protection Program
- Discussions about assistance for local and state governments.
You can listen to the entire interview on the Politico website.