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UHERO Hawaii Select Committee August 3, 2020 Update

August 10, 2020, by Atlas Insurance Agency

Downtown Business

Via videoconference, the House Select Committee on COVID-19 Economic and Financial Preparedness (Committee) completed their 15th meeting regarding:

  1. Identifying the potential economic and financial impact to the State;
  2. Developing short-term and long-term mitigation plans; and
  3. 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

  1. 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
  2. Congressman Case expects that Congress will soon pass an additional emergency legislative funding package

UHERO Update

  1. U.S. real GDP fell by close to 33% in Q2
  2. A small recovery was seen in May and June due to a combination of PPP and reopening the economy
  3. Uncertainty if small businesses can remain open if tourism is pushed back to October 1
  4. Summary of data from UHERO can be viewed here

Update by Governor Ige 

  1. The state is continuing to develop a pre-travel testing program
  2. Thermal screening program phase 1 at airports are complete
  3. 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

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