Rose votes to pass $484 billion to help businesses, nonprofits, hospitals and testing in response to COVID-19
On Thursday, April 23, U.S. Rep. Max Rose voted to pass $484 billion to assist businesses, nonprofits, hospitals and testing in the response to the coronavirus pandemic.
The legislation that passed the Senate on Tuesday, April 21 now heads to the President’s desk to be signed into law.
Prior to the vote, Rose delivered a speech on the House floor highlighting the immediate need for relief and testified before the House Committee on Small Business.
“We should have been here weeks ago,” Rose said in a speech on the House floor prior to passage. “Weeks ago to get more money for our hospitals, weeks ago to protect testing, weeks ago to improve this program for small businesses. But, alas, only in Washington, D.C. would we wait weeks when we all agree.
He then stressed to focus on the future.
“Let’s move forward, because our frontline workers right now cannot afford for us to stand by for politics. Leader McConnell said to our cities and states, to our cops and firemen and teachers, he told them to drop dead,” Rose said. “Well, why don’t we put politics aside, rise up and tell him that we are putting the country first?”
According to Rose, the Paycheck Protection Program and Health Care Enhancement Act includes:
- $310 billion for the Payroll Protection Program (PPP), with $60 billion designated to go through small and mid-size banks, credit unions, community development financial institutions (CDFIs), minority depository institutions, community development corporations, and microloan intermediaries. This will help small businesses and nonprofits without previous or substantive relationships with large banks access this critical funding.
- $60 billion for the Economic Injury Disaster Loans (EIDL) program, including $10 billion in grant funding, which provides economic relief to businesses that are currently experiencing a temporary loss of revenue.
- $75 billion to reimburse hospitals and health care providers.
- $25 billion for a national COVID-19 and antibody testing strategy.
The same day, Rose also testified before the House Committee on Small Business urging more safeguards to ensure federal funding goes to small businesses and nonprofits that need them most.
“Small businesses in my district need help, and they cannot afford to wait. I come before this committee to ask that you help these businesses by addressing the following issues,” he said. “We can start by ensuring history does not repeat itself by letting the big banks prioritize their wealthiest clients, while small businesses in my district wait for even a reply after submitting their application. By using prescriptive language in future relief bills, we must look out for the businesses who need help most and make it harder for big corporations to use emergency relief funds to optimize their bottom line.”
According to Rose, he helped pass the bipartisan CARES Act which will provide more than $40 billion to New York, including vital support for first responders and medical workers on the front lines.
Leave a Comment
Leave a Comment