Larson Votes for Interim COVID-19 Relief Package

Washington, D.C.- Today, Rep. John B. Larson (CT-01) voted for the bipartisan, bicameral interim relief package, the Paycheck Protection Program and Health Care Enhancement Act, that allocates additional funding to programs for small businesses, hospitals, and testing.

"Our nation's health and economic recovery are inextricably linked during this pandemic. Today's vote is another win in the fight against the coronavirus. This legislation strengthens the Paycheck Protection Program by allocating an additional $310 billion in funding, with money reserved for community-based lenders, small and medium-sized banks, and credit unions to reach more small businesses. It also includes vital funding for our hospitals and health care workers and money for much needed testing.

"While today's additional funding is a win, much more needs to be done. Without additional measures for testing, tracking, treatment, and ultimately a vaccine, we won't overcome this crisis. We must also do more to help individuals suffering from the impact on the economy, as well as non-profits not covered under the CARES Act, and state and local governments who have been devastated by lost revenues and protect essential workers."

The bill includes:

• For small businesses:
  • Additional $310 billion for the Paycheck Protection Program (PPP) including funding targeted to small businesses owned by minorities, women and veterans:
    • $30 billion dedicated to community-based lenders, specifically including Minority Depository Institutions, Community Development Financial Institutions, SBA microlenders, nonprofit certified development companies, as well as smaller credit unions and banks.
    • $30 billion dedicated to mid-sized credit unions and banks with assets above $10 billion and less than $50 billion.
• $50 billion for SBA's Economic Injury Disaster Loan (EIDL).
• $10 billion in SBA's EIDL Emergency Injury Grants.
• For hospitals and health care workers:
  • Additional $75 billion to provide resources to the frontlines, including Personal Protective Equipment.
• For all Americans:
  • $25 billion for testing and contact tracing including a nationally coordinated strategic testing policy, which is key to reopening the economy and resuming our lives.