Reschenthaler Votes to Help American Workers, Families, and Small Businesses During COVID-19 Outbreak
March 27, 2020
WASHINGTON, D.C. – Today, Congressman Guy Reschenthaler (PA-14) released the following statement on his vote in favor of the passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act (H.R. 748), a bipartisan bill to help workers, families, and small businesses struggling during the COVID-19 outbreak. The CARES Act now heads to President Trump’s desk to be signed into law.
“The CARES Act will provide immediate assistance to hardworking Pennsylvanians who are struggling to put food on the table and keep their small businesses afloat due to the COVID-19 pandemic. This bipartisan legislation includes commonsense relief measures such as sending direct checks to individuals, families, and senior citizens on Social Security, temporarily increasing unemployment insurance payments by $600, and providing forgivable loans to small businesses to stay afloat and keep employees on payroll.
“To support those on the front line of this crisis, the bill also provides desperately needed resources to hospitals, doctors, and other first responders and expands the use of telehealth medicine. Additionally, the CARES Act creates a $150 billion Coronavirus Relief Fund which will be distributed to states to cover costs associated with the COVID-19 outbreak.
“Throughout our nation’s history, we have overcome immense challenges by putting aside our differences. I am proud to join my colleagues on both sides of the aisle today to put our nation first by passing this historic relief bill to help workers, families, and businesses across our nation during this public health crisis.”
In addition, the CARES Act:
• Provides liability protection for health care providers who volunteer to help during the outbreak.
• Allows health savings accounts to be used to purchase over the counter medicines.
• Allows regulatory relief so banks can grant loan forbearance for otherwise healthy businesses struggling while business has been shut down.
• Provides the U.S. Treasury and the Federal Reserve the ability to provide assistance to distressed industries through guaranteed loans, while also requiring recipients to adhere to strong accountability measures.
• Provides tax policy incentives, such as fixing key technical corrections from the Tax Cut and Jobs Act, including qualified improvement property and net operating loss.