Senate Majority Leader Mitch McConnell (R-KY) was forced to delay the planned release of the Republican draft of the next round of coronavirus relief due to divisions within his party over the plan’s contents. The GOP draft is rumored to contain more direct payments to Americans, some form of an extension to unemployment insurance, and a second Paycheck Protection Program (PPP) payment to businesses with fewer than 300 employees that have had at least a 50% loss in revenue.
McConnell is now expected to release the draft sometime next week, after which it will have to undergo a negotiation with Democrats who have their own priorities. With Congress expected to begin the August district work period shortly, and vast disagreement on what will ultimately be in the package, it’s unclear if an agreement on a relief bill can be made before increased unemployment insurance benefits expire at the end of July.
The PPP, authorized through the CARES Act, is accepting applications through August 8th. Additional information on the PPP can be found here.
New Economic Impact Report
This week AIADA and Autos Drive America released an updated Economic Impact Report, detailing the impact of international automakers and dealers in the U.S.
Check out the new Economic Impact Report here!
As the country reopens and the U.S. auto industry begins its recovery, it’s more important than ever to stay in touch with legislators. Sign up today for a Dealer Visit and AIADA will work with you and your Member of Congress on safe meeting options.
ICYMI
The latest AutoTalk COVID Series webinars are available now:
Paycheck Protection Program Update: What Have We Learned and What Are We Still Waiting On
Managing Your Cyber Risk (Attacks and Scams are Up During the Pandemic)
Sanitation and Decontamination Processes to Reduce Virus Risk
An Update on COVID-19's Impact on U.S. Auto Sales
Information Security in the Virtual Selling Environment
COVID-19’s Impact on the Buy/Sell Market
Online Google Search Optimization: Are you at the top?
And be sure to register today for our other important upcoming webinars!
Quote of the Week
“The dedication the dealers have to their communities, what they’re doing to help out frontline workers, the first responders, the food drives…It makes you proud to be a part of this industry.”
- Cody Lusk, AIADA President & CEO (CBT News)
Must Watch
AIADA President & CEO Cody Lusk spoke with CBT News recently about important issues facing dealers right now.
Must Read
Check out the latest Chairman’s Blog from AIADA Chairman Jason Courter, “When Times Seem Bad, Dealers Do Good.”
Must Listen
Listen to the latest Beltway Talk podcast, Introducing Autos Drive America featuring Jennifer Safavian, who recently took the helm of the newly formed trade association representing international auto manufacturers in the U.S.
Friday Feel Good
Here are JUST A FEW recent examples of how the international nameplate auto industry is doing good in communities across the US during the COVID pandemic:
Doug Smith Subaru in Utah made a donation to an Adult Autism Center.
Eddie Tourelle’s Northpark Nissan in Texas made a donation to Northshore Food Bank.
Hyundai Motor Manufacturing Alabama donated 20,000 face masks and 400 face shields to frontline workers.
Proctor Subaru in Florida and Subaru USA donated $5,000 to a local food bank’s backpack program which aims to ensure children have a healthy food over the weekend.
Findlay Automotive in Nevada donated a vehicle to a military veteran and helped to organize a drive-by parade for another veteran’s 90th birthday.
TommyCar Auto Group in Massachusetts awarded scholarships to three high school graduates.
We want to hear more about how you are supporting your local community during this difficult time – tweet us at @AIADA_News and use the hashtag #DealersDoGood.
