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1 1 (August 14, 2020)

handle is hein.crs/govdbgj0001 and id is 1 raw text is: Researh Sevice COVID-19 International Responses: Resources for Comparison with U.S. Policies August 14,2020 This Insight presents selected resources and CRS products that may be useful for Congress as it compares U.S. responses to the Coronavirus Dis ease 2019 (COVID- 19) pandemic with other countries' responses. COVID-19 emerged in China in late 2019 and has since spread around the globe, infecting millions and leading to hundreds of thousands of deaths. Since it emerged, the pandemic epicenter has shifted from China to several countries in Europe and then across the western hemisphere, including Brazil and the United States. In addition to the high counts of illness and death, COVID-19 has prompted a global economic recession with varying impacts on countries worldwide, according to the World Bank and the Organization for Economic Cooperation and Development (OECD). The U.S. economy, as measured by gross domestic product, contracted at an annual rate of 32.9%o in the second quarter of 2020. In the United States, unemployment also became widespread, with close to 18 million jobless (11.1% of workers) and more than 30 million Ainericans receiving unemployment benefits as of July 30, 2020. Congress has responded to the COVID- 19 pandemic and economic fallout with three broad emergency supplemental legislative assistance packages: SP.L. 116-123, Coronavirus Preparedness and Response SupplementalAppropriations Act, 2020, March 6, 2020; * P.L. 116-127, Families First Coronavirus ResponseAct, Families First Coronavirus ResponseAct, March 18, 2020; and * P.L. 116-136, Coronavirus Aid, Relief, and Economic Security (CARES) Act, March 27, 2020. OnApril 24, 2020, Congress also enacted P.L. 116-139, the Paycheck Protection Program and Health Care Enhancement Act, which created the Paycheck Protection Program (PPP). The PPP was designed to provide for loans, guaranteed by the Small Business Association, to small businesses, nonprofit organizations, and veterans' organizations. Two additional laws concerning the PPP were later enacted. In June 2020, P. L. 116-142 extended the PPP loan forgiveness period. P.L. 116-147, enacted in July 2020, extended the authority for commitments for the PPP, extended the PPP's covered loan period, and authorized $659 billion for PPP loan commitments and $30 billion for 7(a) ioan commitments. Congressional Research Service https://crsreports.congress.gov INI 1481 CRS MNS GHT Prepared -cr Memn bersand Co.. n ft i sofon mcC n g ------------------------------------------------------------------------------------------------------------------------------------....................................-- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

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