Should we give additional funding to combat coronavirus and help small businesses?
Bill Summary
This bill provides additional funding to deal with the coronavirus outbreak. Included are additional funds for small business loans, healthcare providers, and coronavirus testing. The bill allocated $100 billion to the Department of Health and Human Services with $25 billion of that reserved for coronavirus testing. It also increased the Small Business Administration’s authority to give loans during the pandemic.
Sponsor: Rep. Betty McCollum (Democrat, Minnesota, District 4)
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Opponents say
• “The virus bailouts have already cost over $2 trillion. Our annual deficit this year will approach $4 trillion. We can't continue on this course. No amount of bailout dollars will stimulate an economy that is being strangled by quarantine.” Source: Sen. Rand Paul (Republican, Kentucky)
Proponents say
• “I want to thank Congress for answering my call to pass this critical funding. And the bill includes, as you probably know — you’ve been watching it over the last week as it matured unto this this point — $320 billion to refill the Paycheck Protection Program, helping keep millions and millions of American workers on the payroll. Great for small businesses. Great for the workers.” Source: President Trump
• “The interim COVID-19 funding bill provides a much-needed $310 billion replenishment to the Paycheck Protection Program, including $30 billion set aside for community-based lenders to get critical funding into the hands of small businesses who need it most. At the insistence of Democrats, added to this bill is $25 billion for coronavirus testing and $75 billion for front line health care facilities and personal protective equipment for our health care heroes putting their lives on the line. ” Source: Rep. Betty McCollum (Democrat, Minnesota, District 4)
• “The legislation passed yesterday by the Senate – and which will pass the House tomorrow – includes crucial improvements to the Paycheck Protection Program which ensure more small businesses are able to access the resources they need.” Source: Speaker Nancy Pelosi (Democrat, California, District 12)
• “This is going to put another 300-plus billion dollars in the Paycheck Protection Program. This has been a lifeline not only to small businesses, but — I know you’re well aware — you’ve saved over 30 million jobs just with the first tranche of that money that went out. Over 30 million people are on the payroll today that would have been unemployed.” Source: Rep. Steve Scalise (Republican, Louisiana, District 1)
• “The interim COVID-19 funding bill provides a much-needed $310 billion replenishment to the Paycheck Protection Program, including $30 billion set aside for community-based lenders to get critical funding into the hands of small businesses who need it most. At the insistence of Democrats, added to this bill is $25 billion for coronavirus testing and $75 billion for front line health care facilities and personal protective equipment for our health care heroes putting their lives on the line. ” Source: Rep. Betty McCollum (Democrat, Minnesota, District 4)
• “The legislation passed yesterday by the Senate – and which will pass the House tomorrow – includes crucial improvements to the Paycheck Protection Program which ensure more small businesses are able to access the resources they need.” Source: Speaker Nancy Pelosi (Democrat, California, District 12)
• “This is going to put another 300-plus billion dollars in the Paycheck Protection Program. This has been a lifeline not only to small businesses, but — I know you’re well aware — you’ve saved over 30 million jobs just with the first tranche of that money that went out. Over 30 million people are on the payroll today that would have been unemployed.” Source: Rep. Steve Scalise (Republican, Louisiana, District 1)
- Remarks by President Trump at a Signing Ceremony for H.R. 266, Paycheck Protection Program and Health Care Enhancement Act (Pres
- Senate passes $484B coronavirus relief package (The Hill)
- House passes $484 billion bill with money for small businesses, hospitals and testing to battle coronavirus (Washington Post)
- McCollum Statement On Passage Of Interim COVID-19 Funding Bill (Press Release)
- Senate passes coronavirus relief bill, which Trump is expected to sign (NBC News)
