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Megan Beebe

Whether clients are forming, growing or governing businesses, Megan assists in the corporate deals and transactions necessary to move forward. A corporate attorney, Megan focuses her practice on helping clients of all sizes – from emerging startups to international corporations – establish, grow and protect business.

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On Wednesday, March 25, 2020, the United States Senate approved an estimated $2 trillion dollar stimulus package in response to the economic impact of the COVID-19 outbreak. The legislation, formally known as the “Coronavirus Aid, Relief, and Economic Security Act” (or the “CARES Act”), was approved by the Senate 96-0 following days of negotiations.  One of the most highly anticipated provisions of the CARES Act, the “recovery rebates” for individuals, will provide a one-time cash payment up to $1,200 per qualifying individual ($2,400 in the case of eligible individuals filing a joint return) plus an additional $500 for qualifying children. (§6428.2020(a)).  The CARES Act, which remains subject to House approval, also prescribes an additional $500 billon in corporate aid, $100 billion to health-care providers, $150 billion to state and local governments, and $349 billion in small business loans in an effort to provide continued employment and stabilize the economy. The legislation further provides billions of dollars in debt relief on existing loans.

On Wednesday, the House of Representatives passed the Secure and Fair Enforcement Banking Act of 2019 (“SAFE Banking”) by a vote of 321-103. The final vote, which required 2/3 majority of the House, included 229 Democrats and 91 Republications.

Congressman Ed Perlmutter (D-CO), the bill’s sponsor who first introduced the legislation back in 2013, amended the bill ahead of Wednesday’s floor vote to broaden its GOP appeal.

On Friday, House leadership confirmed that the Secure and Fair Enforcement Banking Act of 2019 (the “SAFE Banking Act”) is scheduled to receive a floor vote this week. This announcement follows a strenuous legislative process to normalize banking for the cannabis industry.