Rep. Loudermilk: The CARES Act Will Help Hardworking Americans and U.S. Economy

Statement

Rep. Barry Loudermilk (R-GA) issued the following statement after the House of Representatives passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act:

"Over the past several months, America has been at war with an invisible enemy that has upended every aspect of our way of life. But, in these trying times, we have seen America come together with a dogged determination to win, much like the history books remind us of those who lived and fought before us.

"While the CARES Act is not perfect, it is a huge step in the right direction. It was unfortunate to see some of my Democratic colleagues parachute in at the last minute and stall bipartisan negotiations with nonsensical demands, like election reform, items from the Green New Deal, and other measures that had nothing to do with the current crisis. This bill could have been passed a week ago. Thankfully, most of those demands were not agreed to, and the package passed today provides direct assistance to hardworking Americans, stabilizes key industries from mass layoffs, provides aid to small businesses to keep paychecks flowing, and most importantly, infuses funding for those healthcare workers battling this health crisis on the frontlines."

Background

* Direct payments to qualified individuals with checks of $1,200 for individuals, $2,400 for couples, and $500 for children available for those with incomes at or below $75,000 individual/$112,500 head of household/$150,000 filing jointly.
* Significantly boosts unemployment insurance benefits, expanding eligibility and offering workers an additional $600 a week for four months, on top of what state unemployment programs pay, and will give Americans four months' worth of their income if they are furloughed or lose their job due to COVID-19. The bill also creates an incentive for businesses to keep workers on payroll during the crisis.
* $367 billion in federally guaranteed loans for small businesses to help make payroll.
* $500 billion for a major corporate liquidity program through the Federal Reserve, overseen by an inspector general and an oversight board.
* $150 billion through a Coronavirus Relief Fund for making payments to States, Tribal governments, and units of local government.
* $100 billion for hospitals and healthcare providers.
* $16 billion for the Strategic National Stockpile to procure personal protective equipment (PPE), ventilators, and other medical supplies for federal and state response efforts.
* $11 billion for the Public Health and Social Services Emergency Fund for the manufacturing, production, and purchase of vaccines, therapeutics, diagnostics, and other medical or preparedness needs.
* $30 billion for the Disaster Relief fund.
* $4.3 billion for the Centers for Disease Control and Prevention (CDC).
* $80 million for the Food and Drug Administration (FDA).
* $706 million for the National Institute of Allergy and Infectious Diseases (NIAID).
* $425 million to the Substance Abuse and Mental Health Services Administration (SAMHSA).
* $25 billion in direct financial aid to struggling airlines and $4 billion for air cargo carriers.
* $30 billion in emergency education funding.
* $25 billion in transit funding.

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