Schaftel, Sage

With an eye for logical approaches, Sage Schaftel provides Brownstein’s federal government relations department with high-level research and analysis, project management and legislative and regulatory tracking. Her work spans a wide spectrum of policy issues from education to health care to agriculture.

Prior to joining Brownstein, Sage interned in the Government Affairs department at the National Community Reinvestment Coalition, served as a legislative aide and executive assitant for Governor Hickenlooper’s Legal Counsel and Office of Boards and Commisions and worked as a grant writer and office manager at the Global Livingston Institute.

Publications & Presentations
  • Analysis of Senate-Passed CARES Act
    Brownstein Client Alert, March 26, 2020

  • The CARES Act: Health Care Summary and Analysis
    Brownstein Client Alert, March 26, 2020

  • Coronavirus Economic Update, March 24, 2020

    Brownstein Client Alert, March 24, 2020

  • Coronavirus Economic Update, March 20, 2020
    Brownstein Client Alert, March 20, 2020

  • The Coronavirus Aid, Relief and Economic Security (CARES) Act
    Brownstein Client Alert, March 20, 2020

  • Treasury Department Releases Key Terms for Phase Three Stimulus

    The Treasury Department released a document outlining the key terms of its negotiations on the upcoming third phase of the congressional economic stimulus package. Below are the terms as outlined by the department:

    Appropriation to the Exchange Stabilization Fund for Specified Uses

    • Airline Industry Secured Lending Facility. The Treasury Department would provide $50 billion to secure lending for passenger and cargo carriers, with the interest rate to be determined by the department. Borrowers would be required to outline plans for continuation of service and limitations on increases in executive compensation until the loans are repaid.
    • Other Severely Distressed Sectors of the U.S. Economy. The Treasury Department would provide an additional $150 billion to secure lending and loan guarantees to sectors undergoing significant strain due to the coronavirus.

    Temporarily Permit Use of the Exchange Stabilization Fund to Guarantee Money Market Mutual Fund

    The Treasury Department would temporarily suspend the ESF limit for guarantee programs related to the U.S. money market mutual fund industry. The new statutory authority would be extinguished at the conclusion of the presidentially declared national emergency.

    Economic Impact Payments

    The Treasury Department would authorize and appropriate funds for two installments of direct payments to individuals through the Internal Revenue Service and the Bureau of the Fiscal Service. The federal government would provide $250 billion by April 6 and another $250 billion by May 18, and each individual would receive the same amount both times. The payments would be based on income level and family size.

    Small Business Interruption Loans

    In an attempt to provide continuity of employment due to virus-related business interruptions, the Treasury Department would establish a small business interruption loan program. The department would provide $300  billion for the new program, which would provide a 100% guarantee on each qualifying loan.

    Employers with fewer than 500 workers would be eligible for the loans, which would provide businesses six weeks of payroll, with an upper limit of $1,540 per week per employee (about $80,000 annually). Additionally, borrowers must continue paying all employees for at least eight weeks once the loan is provided.

    The document can be found here.

     

  • Coronavirus Economic Update

    Brownstein Client Alert, March 24, 2020

  • Mnuchin Announces Further Administration Steps to Combat Coronavirus

    At today’s White House Coronavirus Task Force press briefing, Treasury Secretary Steven Mnuchin announced that earlier in the day, President Trump approved a 90-day extension of the tax filing deadline, subject to the following deferral limitations, which will be interest- and penalty-free:

    • Individuals can defer up to $1 million; and
    • Corporations can defer up to $10 million.

    Mnuchin explained this step, which aligns with steps other countries have taken in response to the global pandemic, would result in $300 billion in deferments—up from the administration’s original plan of deferring $200 billion.

    Mnuchin also announced during the press briefing that the administration is looking to provide individuals financial assistance as quickly as possible. To this end, he said the administration is “looking at sending checks to Americans immediately,” clarifying that he would like to accomplish this within two weeks. The expeditious timeline caused Mnuchin to more explicitly oppose President Trump’s insistence on a payroll tax holiday during the press briefing, saying in front of the president that the approach would counteract the economic effects of the coronavirus too slowly. President Trump, who has strongly advocated for a payroll tax holiday through the November 2020 elections, appeared to agree with Mnuchin that such a move would not provide individuals financial relief quickly enough.

    At lunch today with Senate Republicans, Mnuchin outlined the administration’s plan. During the lunch, Mnuchin reportedly proposed $250 billion of means-tested checks. According to reports, the plan to provide direct cash payments to individuals was at least not strongly opposed by most in the room. Should the administration proceed with this plan, Mnuchin said he doesn’t anticipate checks to be sent before the end of April. As we have previously reported, some Senate Republicans, including Sens. Tom Cotton (R-AR) and Mike Braun (R-IN), have explicitly opposed the Families First Coronavirus Response Act (H.R.6201), which passed the House on March 14 and was amended further yesterday.

    The Trump administration is also reportedly preparing to urge the Senate to combine its Phase Three proposals—which is expected to provide targeted relief to specific sectors of the economy, such as the airline, hotel and retail industries—to the Families First Coronavirus Response Act. The administration will likely argue that this approach may provide an easier and quicker path to enactment, as opposed to further amending the Families First Coronavirus Response Act before considering an entirely new Phase Three bill.

    Additional reports reveal that Senate Majority Leader Mitch McConnell (R-KY) has decided against merging Phase Two and Phase Three, instead opting to first move forward with a vote on the Families First Coronavirus Response Act before moving ahead with drafting the chamber’s Phase Three proposal. Following the chamber’s vote on the House-passed measure, three task forces appointed by McConnell will begin working to develop the Senate’s Phase Three stimulus package.

    Reports indicate the administration’s proposal will total about $1 trillion, but Mnuchin said during the briefing that the number “may be bigger than what is in the press.” According to Mnuchin, the administration will float a proposal that includes loan guarantees, assistance to airlines and hotels, and some kind of business interruption payments for American workers. President Trump said during the briefing that the administration’s plan will be clearer by the end of the day.

    For additional information or assistance with a particular issue, please contact a member of the Brownstein Tax Policy Group.

    Click here to read more Brownstein alerts on the legal issues the coronavirus threat raises for businesses.

    This document is intended to provide you with general information regarding economic updates related to coronavirus. The contents of this document are not intended to provide specific legal advice. If you have any questions about the contents of this document or if you need legal advice as to an issue, please contact the attorneys listed or your regular Brownstein Hyatt Farber Schreck, LLP attorney. This communication may be considered advertising in some jurisdictions.

  • Coronavirus Economic Stimulus Package

    Brownstein Client Alert, March 17, 2020

  • Lawmakers Introduce Technical Corrections to Coronavirus Package

    Brownstein Client Alert, March 16, 2020

  • CMS Releases Long-Awaited Block Grant Guidance
    Brownstein Client Alert, January 30, 2020

  • The Funding Outlook For Soon-To-Expire Health Programs
    Co-author, Law360, October 29, 2019

  • Health Extenders Overview and Outlook
    Brownstein Client Alert, October 17, 2019

  • HHS Rule Could Disrupt How Hospitals And Insurers Set Rates
    Co-author, Law360, April 29, 2019

  • #WheresThePrice: Proposed Rule Sneaks in Questions about Publishing Payer-Negotiated Rates
    Brownstein Client Alert, April 1, 2019

  • Expansion of Medicaid Eligibility for Undocumented Young Adults
    Brownstein Client Alert, February 26, 2019

Education
    • B.A., 2014, Pitzer College
    • M.P.P., 2018, Georgetown University