On the Hill

The U.S. Treasury Department responded to several congressional letters sent expressing concern over President Trump’s remarks on business interruption insurance.

House Minority Whip Steve Scalise (R-Louisiana) answered questions from Big “I” President & CEO Bob Rusbuldt on subjects including lessons learned from Hurricane Katrina that guide his perspective on coronavirus legislation.

Senate Majority Whip John Thune (R-South Dakota) is helping Americans weather the storm and protect the millions of small businesses that are vital to communities across the country.

House Minority Leader Kevin McCarthy (R-California) hailed the CARES Act as an enormous achievement and a stepping stone to reopening America but warned that there is still work to be done on Capitol Hill.

Last chance to register for the Big “I” Virtual Legislative Conference: Big “I” in Action to take place May 12-15.

As the coronavirus pandemic is top of mind for both Big “I” members and those on Capitol Hill, it is the sole focus of next week’s conference and Wednesday’s issues briefing.

Members of the U.S. House of Representatives have issued two new letters joining the chorus of opposition to retroactive business interruption coverage for COVID-19 claims.

The bipartisan legislation would allow 501(c)(6) organizations to access loans through the Paycheck Protection Program and already has 40 bipartisan cosponsors.

The insurance measure was removed from an omnibus COVID-19 response bill after concerns were expressed about the legality of the draft and the adverse implications it would have, as well as the massive costs it would impose on the local insurance market.

Since the CARES Act was enacted, the Treasury Department and the Small Business Administration have continued to update their guidance regarding the Paycheck Protection Program.