The North Carolina Institute of Medicine and the South Carolina Institute of Medicine & Public Health continue to monitor the COVID-19 pandemic and state and federal actions to address the health, economic, and social fallout of this crisis. This issue brief provides an update on these actions and the status of those described in our previous publication from April 8, 2020. Since that time, Congress and state legislatures have passed bills to appropriate funds for multiple sectors that have been affected. Governors have also begun to open state economies or lay out plans to do so. This issue brief describes the federal recommendations for phased reopening, state-specific actions, the status of funds allocated by previous federal actions, and a summary of the most recent bill passed by Congress, the Paycheck Protection Program and Health Care Enhancement Act.