FDRA Calls for Footwear Industry Relief in White House Coronavirus Economic Package
Today (March 18th) FDRA sent a multi-association letter to Treasury Secretary Steven Mnuchin urging the Administration to open up a wide range of tools to help footwear, apparel, and travel goods companies during the coronavirus crisis. The letter calls for immediate footwear tariff relief, access to capital and other monetary resources to address challenges to liquidity, assistance with distressed worker compensation, and a Customs & Border Protection (CBP) delay on duty collection. You can read the letter here:
Three Legislative Actions on Coronavirus
Congress and the White House have moved quickly to advance three different economic measures in response to the coronavirus situation:

  • $8.3 billion coronavirus emergency funding bill (Coronavirus Preparedness and Response Supplemental Appropriations Act): signed by President Trump on March 6th. The bill includes $3 billion for developing the coronavirus vaccine and treatments, $2.2 billion for public health measures, and $1 billion for international efforts to combat the spread. The bill passed by Congress was much larger than the President's original request for $2.5 billion in funding.

  • Families First Coronavirus Response Act: passed the House by a vote of 363 to 40 early Saturday morning (March 14th); the Senate passed the bill this afternoon (March 18th). The bill will provide free coronavirus testing for anyone who needs a test. It also provides for two weeks paid sick leave and three months paid family and medical leave, and it increases funding for food and nutrition assistance programs, Medicaid, and unemployment benefits. House Ways and Means Committee Republicans created a Frequently Asked Questions document on the bill, which you can access here: FAQ Families Coronavirus Response Act.

  • Economic Stimulus Package: Currently being put together by the White House and Congress, the measure could total $1 trillion in federal spending. It would likely include $250 billion in direct payments to Americans, $50 billion in assistance to the airline industry, and $250 to $300 billion in small business loans. Treasury Secretary Steven Mnuchin said Tuesday the White House is looking to send checks to Americans immediately.

The Administration's economic stimulus proposal is a rapidly-changing issue. Stay tuned to FDRA for the latest updates.