Via videoconference, the House Select Committee on COVID-19 Economic and Financial Preparedness (Committee) completed their 15th meeting regarding:
- Identifying the potential economic and financial impact to the State;
- Developing short-term and long-term mitigation plans; and
- Monitoring COVID-19 conditions and outcomes.
At last week’s meeting held on August 3, 2020, the Committee received a Congressional update on federal funding to address COVID-19 concerns, as well as an update from the Governor, and an economic update from UHERO.
Congressional Update Summary
- The $7.7 billion received in the state by the CARES Act is not enough and the spike in COVID-19 cases will require another round of federal emergency assistance
- Congressman Case expects that Congress will soon pass an additional emergency legislative funding package
UHERO Update
- U.S. real GDP fell by close to 33% in Q2
- A small recovery was seen in May and June due to a combination of PPP and reopening the economy
- Uncertainty if small businesses can remain open if tourism is pushed back to October 1
- Summary of data from UHERO can be viewed here
Update by Governor Ige
- The state is continuing to develop a pre-travel testing program
- Thermal screening program phase 1 at airports are complete
- Negotiations with travel bubble to Japan are ongoing
Read the full Report of the Select Committee’s Fifteenth Meeting, Held on Monday, August 3, 2020