WASHINGTON, D.C. – Today, Congresswoman Doris Matsui (D-CA), a senior member of the House Energy and Commerce Committee and Subcommittee on Health, issued the following statement on the passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
“The COVID-19 pandemic has caused unprecedented uncertainty and created new challenges for all Americans. This virus has threatened the health and livelihood of countless families and we owe it to them to provide a strong and direct response” said Congresswoman Matsui, Sacramento’s voice in Congress. “This bill provides new resources to contain the virus, support workers, and keep our economy moving. I will continue to fight to get the full power of the federal government behind the Sacramento region during this difficult time.”
The CARES Act includes the following provisions:
- For fighting the coronavirus, this bill includes a $100 billion investment in hospitals, health systems and health research, and $150 billion for state and local governments.
- For workers, this bill secures a $260 billion investment in Unemployment Insurance benefits to match the average paycheck of laid-off or furloughed workers. It also secures an additional 13 weeks of federally-funded benefits to be made available immediately.
- For small businesses, this bill includes a $377 billion infusion of fast relief for small businesses and makes rent, mortgage and utility costs eligible for SBA loan forgiveness.
- For students, this bill directs $30 billion to emergency education funds and eliminates the income tax on student loan repayment assistance by an employer.
This third package builds on two bills already signed into law:
- $8.3 billion the House passed for preparedness, prevention and more, and
- The Families First Coronavirus Response Act, to help families stay healthy and make ends meet during the crisis.
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