Washington, D.C. – Today, U.S. Representative David Kustoff (TN-08) issued the following statement following the House passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
“The coronavirus has disrupted our way of life, overwhelming our healthcare workers, requiring businesses to close, and communities to quarantine. A crisis of this magnitude requires a bold response, and it is Congress’ responsibility to act. There is no doubt this piece of legislation is far from perfect, but without it, our families, businesses, healthcare professionals, and communities would continue to suffer,” said Rep. Kustoff. “This bill is the proportionally correct response to this national crisis at this time, and I look forward to President Trump quickly signing it into law.”
CARES Act:
- Provides grants and loans to small businesses to meet payroll and pay rent.
- Allows regulatory relief so banks can grant loan forbearance for otherwise healthy businesses struggling while business has been shut down.
- Provides Treasury and the Fed the ability to provide several trillion in assistance to distressed industries, including airlines, through guaranteed loans while also including strong accountability protections.
- Rushes resources to hospitals, doctors and other front-line providers.
- Expands the use of Telehealth medicine to surge capacity and diagnose and treat patients in safe and faster environment.
- Temporarily expands unemployment insurance to provide life line for those who have lost their jobs.
- Extends expiring health extenders to November.
