Lerman Senter to Offer COVID Relief Legislation Webinar This Thursday, January 14, at 3:00 pm

Steve Coran and Jeff Carlisle of Lerman Senter will present a webinar on the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (“CRRSAA”) to clients this Thursday, January 14 at 3:00 pm.

On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021 (“CAA”) into law, authorizing $1.4 trillion in federal spending for the next federal fiscal year. As part of the CAA, the CRRSAA authorizes a $900 billion COVID-19 relief package.

Parts of CRRSAA may already be familiar: $600 relief checks, extension and expansion of the U.S. Small Business Administration’s Payroll Protection Program (“PPP”) loans, and extension of unemployment benefits. However, CRRSAA also includes further changes to the Internal Revenue Code relevant to all businesses, loan relief targeted to the broadcasting industry, and significant new funding for broadband infrastructure programs.

This 60-minute webinar will cover many of the changes directly relevant to cable operators, broadcasters, and broadband providers, including:

• Changes to PPP loans, including broader eligibility for broadcasters, expansion of covered costs, tax treatment of PPP loans, and second loans for businesses that have already received a PPP loan;

• Changes to the tax code, including extension and expansion of the Employment Tax Credit and extended repayment periods for deferred payroll taxes;

• Over $5 billion in new broadband subsidies targeted at Tribal areas, minority communities, unserved communities, telehealth, and a new individual discount program; and

• $1.9 billion for the removal and replacement of Huawei and ZTE equipment in broadband networks, and revised prioritization for those funds.

Attendance will be limited to the first 100 participants who join Steve and Jeff at the following Zoom space:

Meeting ID: 936 7627 6551
Passcode: 993581

Dial in: 301-715-8592 or 929-205-6099
Meeting ID: 936 7627 6551
Passcode: 993581

If you have questions about the webinar or the CRRSAA, please contact Steve at scoran@lermansenter.com or Jeff at jcarlisle@lermansenter.com.