recession

The Bureau of Economic Analysis released its advance estimate of U.S. GDP for the second quarter of 2020 reflecting the months of April, May and June dropped 9.5 percent in the second quarter, According to the BEA report, real GDP contracted at an unprecedented annualized rate of 32.9 percent. This is the largest quarterly decline … Continued

Thursday, Senators Doug Jones (D-Alabama) and Lisa Murkowski (R-Alaska) led a group of their colleagues in urging Senate leadership to include robust funding for America’s schools, educators, and students in the next round of COVID-19 relief funding. “It is not just teachers who will be impacted by these shrinking education budgets,” Jones and the other … Continued

Congressman Robert Aderholt, R-Haleyville, spoke on the floor of the House of Representatives last week to express his opposition to the controversial Heroes Act. “No doubt, as it has been said, state and local governments across this nation are hurting because of the economic downturn this virus has created,” Aderhold said. “However, these times call … Continued

The Alabama House of Representatives met in Montgomery to consider legislation as the 2020 legislative session winds down. The House has yet to act on either budget, but that is scheduled to change Thursday, when they pass both the state general fund (SGF) and education trust fund (ETF) budgets. House Ways and Means General Fund … Continued

The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, issued a “Legislative Plan for Small Business Survival,” that included ten prescriptive recommendations they claim would help ensure more small businesses survive the coronavirus crisis and more quickly return to normal business operations once restrictions are lessened. “Small businesses, which account … Continued

Thursday, Congressman Robert Aderholt, R-Haleyville, expressed his disappointment with Congressional Democrats for refusing to add more funds to the Small Business Administration’s Paycheck Protection Program to businesses that have been impacted by the forced economic shutdown to fight the spread of the coronavirus. “The Paycheck Protection Program was written with urgency to address a great … Continued

Wednesday, Alabama Governor Kay Ivey (R) announced that Dr. Selwyn Vickers has agreed to join Governor Ivey’s Executive Committee of the Coronavirus Task Force. The Governor’s Executive Committee is tasked with finding the right balance between economic health and physical health as we continue to battle the COVID-19 pandemic. “I’m so grateful that Dr. Vickers … Continued

Lt. Gov. Will Ainsworth announced Thursday that the Alabama Small Business Commission Emergency Task Force has formed a subcommittee on reopening the state’s economy and plans to present a plan to Gov. Kay Ivey and State Health Officer Dr. Scott Harris by April 17. “Reopening Alabama’s economy and getting businesses back to work will not … Continued

Early Wednesday morning, the White House and Senate leaders finally reached a deal on a massive stimulus package they are hoping can keep the American economy from falling into a deep recession due to the government-imposed economic shutdown to deal with the growing coronavirus threat. The final version of the Senate bill comes with a … Continued