Every Hour Counts- Emergency Relief Funding for Americans
Washington, D.C. - Congressman Michael McCaul (TX-10) gave the following statement in regards to the House vote on the Coronavirus Aid, Relief, and Economic Security (CARES) Act:
Every hour counts in a crisis. Our nation is staring down an invisible enemy that has taken a toll on our economy, the American worker, our hospitals and first responders. As Members of Congress we have the chance to intervene and help people who sorely need financial or medical support. This is an unprecedented moment – the coronavirus outbreak will go down in history as one of the worst our nation has faced: people are losing loved ones, their jobs, and small businesses built over a lifetime are failing.
To hold up a vote on a piece of legislation that could bring financial relief is unimaginable. After a unanimous vote in the Senate, demanding that Members of Congress risk further spreading the COVID-19 virus by traveling from all corners of the country to D.C., is unconscionable.
As for my fellow Texans at home, I am en route to our nation’s capital. I plan to vote in favor of the CARES Act. This piece of legislation will bring relief to hospitals, small businesses, core industries, and service workers during this time of crisis.
Every hour counts when people are losing their jobs and losing the battle to coronavirus.
Just yesterday our nation saw unemployment numbers skyrocket to 3.3 million. For individuals who lost their job as a direct result of the Coronavirus, passage of this legislation would mean $600 more per week in unemployment funds from April until the end of July. For small businesses who are faced with the decision to keep staff on payroll, this bill provides $350 billion in loans, to give them the opportunity to retain their employees. For companies larger than 500 employees, this bill establishes a tax credit so they can keep employees on the payroll. Our major industries, who employ millions of Americans, will receive $500 billion in loans to help them stay afloat. And finally, for our nurses, doctors, first responders who have been on the front lines fighting this terrible virus, there will be $100 billion in emergency relief. This financial support will ensure those who are on the front lines, are sufficiently equipped to care for those who have been or will be diagnosed with coronavirus.
Though we face unprecedented times, I know we will get through this together, united as a country, to fight this disease.