ATLANTA – Yesterday, conservative businesswoman and political outsider Kelly Loeffler voted for H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act. With a strong focus on supporting American families and anchoring the American economy, the CARES Act will deliver $2 trillion in financial aid to U.S. workers and small businesses as well as expand and fund an aggressive response to the coronavirus.
Several pieces of Sen. Loeffler’s legislation were incorporated into the final bill, including important provisions designed to prevent shortages of essential medical devices and ensure quality care in rural communities. She also worked with Treasury Secretary Steven Mnuchin and members of the legislative working groups to include business-centric solutions in the bill, including quick relief for small businesses, upfront tax credits, and electronic payment disbursement.
“With the passage of the CARES Act, we are providing immediate economic relief to Georgia businesses and families across our state,” said Sen. Loeffler. “Despite the Democrats’ repeated delays, I never stopped fighting to advance legislation that puts the American people first. This bill is far from perfect, but it’s a major step toward getting job-creators – our farmers, our small business owners, and our entrepreneurs – back on their feet and Georgians back to work.
“By cutting burdensome red tape, we are taking an aggressive approach to providing economic relief. Our families will get the immediate financial boost they need, our workers will keep their jobs, and our businesses will continue operating. Meanwhile, we’re extending a direct lifeline to our doctors and hospitals, ensuring they have access to vital resources to keep our nation healthy in the months to come. By getting government out of the way, this historic funding package will keep our families and small businesses – the heartbeat of our nation – strong.
“I am proud of our work to deliver immediate relief to every corner of our state and every sector of our economy, and I am pleased that the provisions I spearheaded passed as part of this package. I pray that God will continue to protect all Georgians, as we stop the spread of COVID-19 and begin our recovery as a state and nation.”
The CARES Act takes several major steps to provide relief for workers and businesses, ensuring that fewer Americans lose their jobs and more businesses stay open to preserve the lifeblood of the American economy. The legislation:
- Creates a $350 billion “Paycheck Protection” program, providing 8 weeks of cash-flow assistance through federal loans to encourage small businesses to maintain payroll and continue regular operations, also allowing loans taken out by a business to be forgiven.
- Reserves about $250 billion to provide temporary unemployment checks to those out of work, shifting the unemployment payment responsibility off of employers.
- Delays payroll tax payments for employers, enabling small business owners to re-invest their own money back into their businesses, their workers, and their communities.
- Designates $425 billion in new federal loans, to aid distressed businesses in need of immediate funding.
- Requires that the Small Business Administration (SBA) pay all principal, interest, and fees on existing SBA loans for six months, to reduce burdens on small businesses in need.
- Provides a one-time tax rebate check of $1,200 per individual and $2,400 for a couple, with $500 per child to help American families pay for essentials in a time of national emergency.
The legislation also supplements ongoing coronavirus response efforts in our hospitals and health care facilities, providing much-needed resources to our doctors and nurses to ensure better care for the American people. The bill:
- Increases funding to health care providers, to ensure that medical professionals can take all steps necessary to treat and fight the virus.
- Relaxes existing rules to increase telehealth opportunities, increasing health care access for families in every part of the country.
- Ensures adequate health care in rural regions by enabling health centers to assist in treating coronavirus patients.
Sen. Loeffler sponsored three pieces of legislation which have been incorporated into the broader CARES Act: The Improving Care in Rural America Reauthorization Act, the Rural Delivery of Online Care Services Reauthorization Act, and the Preventing Essential Medical Device Shortages Act. As part of the CARES Act, these provisions will provide new funding to rural hospitals to improve access and care for rural patients and promote private sector partnerships to protect against medical device shortages.
For more information on available federal resources, as well as resources for fighting the coronavirus, please visit www.kellyforsenate.com/kelly-cares.