(March 27, 2020 4:29 PM) Congress gave final approval today on the record $2.2 trillion emergency relief package, Coronavirus Aid, Relief, and Economic Security (CARES) Act. President Trump is expected to sign the bill into law this afternoon.
Michigan 7th District U.S. House Representative Tim Walberg today voted in favor of passage. In a news release, Walberg shared his comments and this video of his remarks on the House floor. Click here to watch video.
“These are incredibly trying times that have put people’s jobs, health, and livelihoods at risk. Swift action is needed to help communities in Michigan weather this crisis,” said Walberg. “The CARES Act is the third Coronavirus emergency relief bill and the most significant yet. It will provide direct cash payments to workers trying to make ends meet, assist small businesses struggling to stay afloat and keep people employed, and support hospitals and health care professionals in urgent need of medical equipment.”
The CARES Act includes a number of provisions to help workers, small businesses, and health care professionals. Specifically, Walberg says the bill:
- Provides direct financial assistance to families in need, including $1,200 for individuals making less than $75,000 and $2,400 for couples making less than $150,000. Families with children would be eligible for an additional $500 per child.
- Provides $100 billion in support for hospitals and health care providers, and provides flexibility for them to receive both prospective payments and reimbursement for costs associated with coronavirus, including lost revenues.
- Provides an additional $16 billion to procure personal protective equipment, ventilators, and other medical supplies for federal and state response efforts.
- Provides cash-flow assistance to small businesses through federally-guaranteed loans, with certain expenses eligible for forgiveness if employers maintain their payrolls through this emergency.
- Expands unemployment insurance to cover independent contractors and self-employed individuals and increases benefits for up to four months.
- Provides immediate assistance to child care providers to prevent them from going out of business and supports child care for families, including for healthcare workers, first responders, and others playing critical roles during this crisis.
Walberg said he expect additional legislation will be introduced in the future. “As we work together to overcome the Coronavirus, more resources are on the way,” said Walberg.
The $2 trillion bill passed with bipartisan support by a voice vote. All members of the House were not in attendance and a quorum is assumed in a voice vote.