COVID-19 response memo, May 15, 2020

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COVID-19 response memo, May 15, 2020

BY THE NUMBERS

Number of Statewide Cases: 26,655 (+602)

Marion County Cases: 7,995 (+202)

Hamilton County Cases: 977 (+9)

Johnson County Cases: 959 (+7) US Cases: 1.41M

Global Cases: 4.5M

Number of Statewide Deaths: 1,550 (+42) Number of Marion County Deaths: 451 (+11) US Deaths: 85,974 (+1,661)

Global Deaths: 303,825 298,392 (+5,433)

Number of new Hoosiers Filing for Unemployment: 30,691 as of 5/14/20

FEDERAL

CDC Offers Brief Checklists to Guide Businesses, Schools and Others on Reopening With hundreds of millions of people still seeking advice on resuming their lives safely, the Centers for Disease Control and Prevention issued a scant six pages of recommendations Thursday to guide schools, businesses, day-care facilities and others into the next phase of the coronavirus pandemic. The six checklists — which also address restaurants, mass transit and camps — come days, and in some cases weeks, after many states have begun to lift restrictions on their own. The advice is less detailed than draft recommendations the agency sent to the White House for review last month. The nation is still awaiting that detailed technical guidance, which the White House has held up and not shared publicly. The delay has left the responsibility for decision-making about reopening to states and localities. It has also left many health experts clamoring for greater transparency.

House Set to Vote on HEROES Act

The House will meet at 9:00 am EST for legislative business. One hour of debate is reserved for the Rule providing for consideration of H.R. 6800, the HEROES Act, and H.Res. 965, which allows remote voting by proxy in the House. Following the debate, the House will vote on the adoption of the Rule providing for consideration of H.R. 6800 and H.Res. 965. After the vote series, the House will proceed to one hour of debate on H.Res. 965, followed by two hours of debate on

H.R. 6800. After debate on H.R. 6800, the House will vote on the final passage, expected around 5- 5:30 pm EST. Both measures are expected to pass along party lines.

Updated PPP Guidance

On Thursday, Treasury released updated Paycheck Protection Program (PPP) Guidance, attached. The change allows for certain electric cooperatives to participate in the program. The Small Business Administration (SBA) also launched a new search functionality in the E-Tran Servicing section of the Capital Access Financial System (CAFS). The new function will allow PPP lenders to review loans in their portfolios. Lenders can find PPP loans here.

White House to Ramp Up Production of Critical Supplies

On Thursday, President Trump issued an Executive Order (EO) to ramp up production of critical supplies under the Defense Production Act (DPA). The EO will increase the production of critical supplies and replenish the U.S. strategic stockpile in a precautionary move to prepare for a second wave of the coronavirus later this year. The effort authorizes the chief executive of the

U.S. International Development Finance Corporation to make loans and other financing available to private domestic companies to increase the production of critical supplies in support of the national defense. Loans are limited to maintaining, protecting, expanding, or restoring domestic industrial capabilities.

The Trump Administration is aiming to have 300 million N95 masks in the stockpile by the end of the year, a significant increase from the 13 million masks the stockpile currently has on hand. The number of medical gowns will be tripled to 6 million, critical care drugs for patients on ventilators will be included, and 180,000 ventilators will be added to the stockpile by the end of the year.

NYSE Announces Plans to Reopen

The New York Stock Exchange (NYSE) will reopen its trading floor on May 26 with several restrictions. A limited number of traders will be allowed to return to the floor and must wear masks and abide by social distancing guidelines. Traders will have their temperatures checked before entering the building and will not be allowed to use public transit to or from work. They will also be required to sign a waiver acknowledging they understand the risk of infection from COVID-19.

U.S. Retail Sales Plunged Record 16% in April Amid Shutdowns

U.S. retail sales tumbled by a record 16.4% from March to April as business shutdowns caused by the coronavirus kept shoppers away, threatened the viability of stores across the country and further weighed down a sinking economy. The Commerce Department’s report Friday on retail purchases showed a sector that has collapsed so quickly that sales over the past 12 months are down a crippling 21.6%. The severity of the decline is unrivaled for retail figures that date back to 1992. The monthly decline in April nearly doubled the previous record drop of 8.3%—set just one month earlier. “It’s like a hurricane came and leveled the entire economy, and now we’re trying to get it back up and running,” said Joshua Shapiro, chief U.S. economist for the consultancy Maria Fiorini Ramirez. Shapiro suggested that retail sales should rebound somewhat

as states and localities reopen their economies. But he said overall sales would remain depressed “because there is going to be a big chunk of the lost jobs that don’t come back.”

The sharpest declines from March to April were at clothing, electronics and furniture stores. A long-standing migration of consumers toward online purchases is accelerating, with that segment posting an 8.4% monthly gain. Measured year over year, online sales surged 21.6%. Other than online, not a single retail category was spared in April. Auto dealers suffered a monthly drop of 13%. Furniture stores absorbed a 59% plunge. Electronics and appliance stores were down over 60%. Retailers that sell building materials posted a drop of roughly 3%. After panic buying in March, grocery sales fell 13%. Clothing-store sales tumbled 79%, department stores 29%.

Restaurants, some of which are already starting to close permanently, endured a nearly 30% decline despite shifting aggressively to takeout and delivery orders.

STATE

Survey: Oil, Mining, Manufacturing Businesses Had Best Luck With Pandemic Loans 

Almost 75% of small businesses in a survey applied for help from a federal loan program designed to keep workers employed during the coronavirus pandemic, but only 38% received any money, the U.S. Census Bureau said Thursday. Oil extraction and mining businesses had the best success in getting loans from the Paycheck Protection Program, with more than half of businesses surveyed in that sector reporting getting some help, according to the Census Bureau’s Small Business Pulse Survey. Just under half of small businesses in manufacturing and about 45% of small businesses in accommodations and food services reported receiving loans, the survey said.

Utilities fared the worst of all sectors, with less than a quarter of small businesses in that sector getting loans, according to the survey. The Paycheck Protection Program administered by the Small Business Administration has dispensed more than $530 billion in low-cost loans to millions of small businesses to cushion them from the sharp downturn induced by the coronavirus.

The Census Bureau survey showed that nearly two-thirds of small businesses in Arkansas, Maine and Oklahoma, had received loans, among the highest in the nation. Trailing the rest of the nation was California, where just over a fifth of small businesses received the emergency loans. When asked about the disparities in an email, SBA press director Carol Wilkerson said the agency didn’t have a comment to provide. The Census Bureau launched the Small Business Pulse Survey last month in order to capture the impact of the pandemic on small businesses in near real-time. The release on Thursday was the first of what will be weekly updates. The initial survey was sent to 100,915 small businesses, and 22,449 small businesses responded from April 26 to May 2.

The survey targeted nonfarm, single-location employer businesses with less than 500 employees and receipts of $1,000 or more. Almost three-quarters of the small businesses surveyed said they had experienced a drop in revenue, and more than a quarter said they had decreased the size of their workforce. More than 11% of the small businesses reported missing a loan payment, but that rose to 30% for small businesses in accommodations and food services, according to the survey.

IMPORTANT LINKS

Links to all executive orders may be found here: https://www.in.gov/gov/2384.htm

Link to the Stay-At-Home Order FAQ may be found here: https://www.in.gov/gov/3232.htm

More information may be found at the ISDH website at in.gov/coronavirus/ and the CDC website at https://www.cdc.gov/coronavirus/2019-ncov/index.html.

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