"While this package was not perfect, I was glad that members from both sides of the aisle came together to provide historic, bipartisan relief for those struggling to overcome the impacts of the COVID-19 outbreak," said Joyce. "The CARES Act supports our medical professionals and their patients, brings relief to small businesses and workers, gives financial assistance to Americans in need, and stabilizes the economy.
Importantly, the CARES Act includes over
"The full effects of this crisis have yet to be felt, but already hospitals and health care systems across the country are facing staffing challenges, an ever-increasing demand for testing, an influx of critically ill patients and a dwindling supply of medical equipment needed to care for these patients," Joyce said. "As the husband of a nurse, I was proud to fight to ensure this bill included the funding necessary to support all of our unsung medical heroes on the front lines of this outbreak."
The bill also created the new Paycheck Protection Program to help small businesses and nonprofits hit hard by the outbreak. Businesses and 501(c)(3)s with less than 500 employees will be eligible for this new program which will provide a 4% interest rate loan that is 100% guaranteed by the
"Having grown up my entire life in
Other vital resources provided by the bipartisan package include but are not limited to:
* Refundable tax credits for low- and middle-income families, as much as
* Temporarily expanded unemployment insurance to provide a lifeline for those who have lost their jobs as a result of the outbreak.
* Authorizes the