NMSU Extension offers live online series on financially navigating the COVID-19 outbreak

NMSU Extension offers live online series on financially navigating the COVID-19 outbreak
DATE: 03/30/2020
WRITER: Jane Moorman, 505-249-0527, jmoorman@nmsu.edu
CONTACT: Bryce Jorgensen, 575-646-1889, brycej@nmsu.edu
CONTACT: Susann Mikkelson, 575-461-0562, susannm@nmsu.edu
The COVID-19 pandemic has caused financial uncertainty for many people with the closure of nonessential businesses and guidelines restricting gatherings to five people.

The U.S. Congress passed an unparalleled $2.2 trillion economic rescue package steering aid to businesses, workers and health care systems engulfed by the pandemic. But what does that mean to the individual’s financial situation?

New Mexico State University Quay County Cooperative Extension Service will host a free virtual workshop series, “Financially Navigating the COVID-19 Outbreak” each Thursday in April. The workshop will be available via Zoom, at https://nmsu.zoom.us/j/335743117.

“We want to provide a message of hope amidst all the turmoil and incorrect information out there,” said Bryce Jorgensen, NMSU Extension family resource management specialist. “People living paycheck to paycheck are unsure what to do with no income. We will provide many of the answers they are looking for.”

Beginning Thursday, April 2, people from across the state may join the one-hour online session at 11:30 a.m. Following sessions will be April 9, 16 and 23. The sessions will be interactive, allowing participants to ask questions.

“This workshop is an effort to demystify all of the information that people have heard,” said Susann Mikkelson, NMSU family and consumer sciences agent in Quay County. “We will provide information people will need to access resources and adapt their household budget and practices to their short-term or longer-term income changes.”

Jorgensen will provide the latest information on how to access stimulus and emergency fund opportunities offered by the federal and state governments.

The session’s topics will include understanding financial impact of COVID-19; accessing stimulus and emergency funds; how to defer credit card, auto, mortgage and other payments; deciphering interest rates; and creating a spending plan to maximize current income and savings.

“We are excited to inform families of their financial options and to provide some hope that comes in terms of making wise financial decisions with the funds made available in the stimulus package,” Jorgensen said.

For additional information, contact Mikkelson at susannm@nmsu.edu.

FDA Recently Post Guidance Documents.

Recently Posted Guidance Documents

·    3/27/2020 - Center for Devices and Radiological Health (CDRH) Appeals Processes: Questions and Answers About 517A: Guidance for Industry and Food and Drug Administration Staff ·    3/27/2020 - Notifying FDA of a Permanent Discontinuance or Interruption in Manufacturing Under Section 506C of the FD&C Act Guidance for Industry: Guidance for Industry ·    3/26/2020 - Guidance for Industry: Temporary Policy Regarding Nutrition Labeling of Certain Packaged Food During the COVID-19 Public Health Emergency  ·    3/25/2020 - Enforcement Policy for Face Masks and Respirators During the Coronavirus Disease (COVID-19) Public Health Emergency: Guidance for Industry and Food and Drug Administration Staff ·    3/24/2020 - Compliance Policy Guide Section 110.800 Post Detention Sampling Guidance for Industry ·    3/24/2020 - CVM GFI #269 - Enforcement Policy Regarding Federal VCPR Requirements to Facilitate Veterinary Telemedicine During the COVID-19 Outbreak ·    3/24/2020 - Temporary Policy for Manufacture of Alcohol for Incorporation Into Alcohol-Based Hand Sanitizer Products During the Public Health Emergency (COVID-19) Guidance for Industry ·    3/23/2020 - CVM GFI #108 Registering with CVM’s Electronic Submission System ·    3/22/2020 - Enforcement Policy for Ventilators and Accessories and Other Respiratory Devices During the Coronavirus Disease 2019 (COVID-19) Public Health Emergency: Guidance for Industry and Food and Drug Administration Staff ·    3/22/2020 - Policy for Certain REMS Requirements During the COVID-19 Public Health Emergency Guidance for Industry and Health Care Professionals Guidance Document Search ·    Search all FDA official guidance documents and other regulatory guidance

FSA Makes Changes to Farm Loan, Disaster, Conservation and Safety Net Programs to Make it Easier for Customers to Conduct Business

FSA Makes Changes to Farm Loan, Disaster,
Conservation and Safety Net Programs to Make it
Easier for Customers to Conduct Business
Contact: FPAC.BC.Press@usda.gov
(mailto:FPAC.BC.Press@usda.gov)
FSA Services Available by Phone Appointment Only

WASHINGTON, D.C., March 26, 2020 – USDA’s Farm Service
Agency (FSA) county offices are open by phone appointment
only until further notice, and FSA staff are available to
continue helping agricultural producers with program signups,
loan servicing and other important actions. Additionally, FSA is
relaxing the loan-making process and adding flexibilities for
servicing direct and guaranteed loans to provide credit to
producers in need.
FSA Service Centers are open for business by phone
appointment only. While our program delivery staff will
continue to come into to the office, they will be working with
our agricultural producers by phone and using email and online
tools whenever possible.
“FSA programs and loans are critical to America’s farmers and
ranchers, and we want to continue our work with customers
while taking precautionary measures to help prevent the
spread of coronavirus,” FSA Administrator Richard Fordyce
said. “We recognize that farm loans are critical for annual
operating and family living expenses, emergency needs and
cash flow through times like this. FSA is working to find and
use every option and flexibility to provide producers with credit
options and other program benefits.”
FSA is delivering programs and services, including:
Farm loans;
Commodity loans;
Farm Storage Facility Loan program;
Disaster assistance programs, including signup for the
Wildfire and Hurricane Indemnity Program Plus (this
includes producers now eligible because of losses due to
drought and excess moisture in 2018 and 2019);
Safety net programs, including 2020 signup for the
Agriculture Risk Coverage and Price Loss Coverage
programs;
Conservation programs; and
Acreage reports.
Relaxing the Farm Loan-Making Process
FSA is relaxing the loan-making process, including:
Extending the deadline for applicants to complete farm
loan applications;
Preparing Direct Loans documents even if FSA is unable to
complete lien and record searches because of closed
government buildings. Once those searches are complete,
FSA would close the loan; and
Closing loans if the required lien position on the primary
security is perfected, even for loans that require additional
security and those lien searches, filings and recordings
cannot be obtained because of closed government
buildings.
Servicing Direct Loans
FSA is extending deadlines for producers to respond to loan
servicing actions, including loan deferral consideration for
financially distressed and delinquent borrowers.
FSA will temporarily suspend loan accelerations, non-judicial
foreclosures, and referring foreclosures to the Department of
Justice. The U.S. Attorney’s Office will make the determination
whether to stop foreclosures and evictions on accounts under
its jurisdiction.
Servicing Guaranteed Loans
Guarantee lenders can self-certify, providing their borrowers
with:
Subsequent-year operating loan advances on lines of
credit;
Emergency advances on lines of credit.
FSA will consider guaranteed lender requests for:
Temporary payment deferral consideration when borrowers
do not have a feasible plan reflecting that family living
expenses, operating expenses and debt can be repaid; and
Temporary forbearance consideration for borrowers on loan
liquidation and foreclosure actions.
Contacting FSA
FSA will be accepting additional forms and applications by
facsimile or electronic signature. Some services are also
available online to customers with an eAuth account, which
provides access to the farmers.gov
(https://www.farmers.gov/) portal where producers can view
USDA farm loan information and payments and view and track
certain USDA program applications and payments. Customers
can track payments, report completed practices, request
conservation assistance and electronically sign documents.
Customers who do not already have an eAuth account can
enroll at farmers.gov/sign-in (https://www.farmers.gov/signin).
FSA encourages producers to contact their county office to
discuss these programs and temporary changes to farm loan
deadlines and the loan servicing options available. For Service
Center contact information, visit farmers.gov/coronavirus
(https://www.farmers.gov/coronavirus).
USDA is an equal opportunity provider, employer and lender.

US Government COVID-19 Stimulus Package

US Government COVID-19 Stimulus Package

U.S. Senate passed a major, bipartisan emergency COVID-19 response bill to provide immediate and relief to the coronavirus pandemic. The $2 trillion package includes key provisions to support New Mexico, including: direct payments to individual New Mexicans and a major expansion of unemployment benefits, direct relief for small businesses, an emergency infusion of resources into hospitals and to support health care workers, reimbursement state governments like New Mexico that have stepped up to address the crisis, and resources for Tribes and vulnerable Native communities. 

The legislation COVID-19 aid package includes key provisions for New Mexicans:

- Expanded and restructured unemployment insurance:  The extended unemployment insurance program increases the maximum unemployment benefit by $600 per week and ensures that laid-off workers, on average, will receive their full pay for four months. It ensures that all workers are protected whether they work for businesses small, medium or large, are self-employed or are workers in the gig economy. The bill also allows furloughed workers to stay on as employees, so that when this crisis ends, they can quickly resume work with their employer and businesses can start running again.

- Direct financial support for working New Mexicans: The legislation provides direct payments of $1,200 to individual New Mexicans, $2,400 for married couples and $500 per child. The full payment is available for individuals making up to $75,000 (individual) and $150,000 (married). The amount phases out for those above the income cap.

- Relief for small businesses: The bill includes major provisions to support and provide relief to small businesses negatively impacted by the Coronavirus pandemic and its required public health responses. The bill includes $377 billion in small business aid including up to $10 million Payment Protection Program loans for small business up to 500 employees. The loans will be converted to grants so long as employers maintain their previous payroll through December 31, 2020. 

- Resources for hospitals and frontline health care workers: The bill provides more than $150 billion for the health care system, including major funding for hospitals and medical facilities. The bill injects $100 billion into thehospital and health system, just over $1 billion for the Indian Health Service, and billions more into critical investments such as personal and protective equipment for health care workers, testing supplies, increased workforce and training, new construction to house patients, an increase of the Strategic National Stockpile, medical research into COVID-19 and Medicare payment increases to all hospitals and providers to ensure that they receive the funding they need during this crisis. 

- Support for state and local governments: State governments like New Mexico that are leading the COVID-19 response will get major support from a $150 billion coronavirus expenditures fund. The state of New Mexico, including local governments, will be eligible for up to $1.25 billion to reimburse for costs stemming from the pandemic.

- Funding for Tribes and Native communities: The bipartisan Senate agreement will establish an $8 billion Tribal Government Relief fund to ensure Indian Tribes have direct "one stop" access to COVID-19 resources for economic recovery and continuation of essential government services based on local needs. The agreement also contains over $2 billion in emergency supplemental funding for Indian Tribes, urban Indian health programs, and Native communities, including $1.032 billion for the Indian Health Service, with significant funds put in the field through Tribal shares and urban organizations.

- Protection for New Mexico’s national lab and federal contractor employees: The bill will ensure paid leave for contractors at New Mexico’s national labs and other federal contractors who cannot perform work on a site that has been approved by the Federal government, including a federally-owned or leased facility or site, due to facility closures or other restrictions, and who cannot telework because their job duties cannot be performed remotely during the public health crisis. 

- Support for New Mexico’s creative economy: New Mexico’s creative economy supports 1 in 10 jobs in the state, but it is suffering under the coronavirus crisis. The bill includes $150 million in funds for the National Endowment of the Humanities and National Endowments of the Arts to provide grants to local businesses to support the creative economy when cultural and arts venues are shuttered. Many self-employed artists and performers will also be able to access the expanded unemployment insurance.

- Funding for critical nutrition programs that serve families: The agreement includes $15.5 billion in additional funding for SNAP, which a quarter of New Mexicans depend on, $8.8 billion for Child Nutrition Programs to ensure children who need it can get meals outside of school, and $450 million for the Emergency Food Assistance Program (TEFAP), which supports food banks across the country that expect to serve even more families due to the economic downturn.

- Foreclosure Moratorium and Mortgage Forbearance: Prohibits foreclosures on all federally-backed mortgage loans for 60 days. Provides up to 90 days of forbearance for multifamily borrowers with a federally backed multifamily mortgage loan who have experienced a financial hardship. The bill also places a 120-day moratorium on evictions from any property for which a landlord has a federally-backed mortgage.