WASHINGTON DC (April 24, 2020) — Representative Dave Loebsack released the following statement on April 23 after the House passed the fourth bill designed to help combat COVID-19 and its effect on our economy. “The Paycheck Protection Program and Health Care Enhancement Act” contains relief for small businesses, funding for hospitals and testing, and protects the livelihood of Iowans. Specifically, this bill sets aside $60 billion within the Payment Protection Program (PPP) for underserved small businesses, including those in rural areas. The bill passed the House on a bipartisan vote and now heads to the President for his signature:

“It’s clear that small businesses are still struggling and in need of an immediate infusion of funding. I am pleased that the House and Senate again came together in a bipartisan manner to swiftly make this funding available to small businesses. The Paycheck Protection Program has proven to be a popular program, with the Small Business Administration already approving 1.6 million loans to small businesses. The bill passed today contains an additional $310 billion in emergency resources to help protect the livelihood of the American people. I am especially pleased that $60 billion of the PPP will be set aside to specifically benefit underserved communities, including rural areas. Additionally, I will work with my colleagues to provide oversight of PPP to ensure these funds get to the small businesses who actually need the assistance. It is imperative that loopholes can no longer be exploited and turned into a bailout for large, publicly-traded corporations.

“Further, I am pleased that this bill provides additional, much-needed funding for hospitals and expanded testing. Since this crisis began, I have heard from the health-care workers on the frontline of this pandemic about the need for additional PPE and testing capacity. The addition of $75 billion for hospitals and health-care workers, and $25 billion to expand COVID-19 testing, are key to reopening our economy and protecting our those on the frontline. They must have the equipment necessary to keep themselves, patients, and their families safe.”

COVID-19 BACKGROUND

Last month, Rep Loebsack helped pass one of the most significant relief packages in our country’s history, the bipartisan Coronavirus Aid, Relief, and Economic Security (CARES) Act, to help combat the spread of the COVID-19 illness, also known as the novel coronavirus. This legislation contains provisions to make health-care affordable and accessible, bolster the health-care system, protect frontline response workers, support small businesses, and assist states and local governments.

Since the outbreak of the COVID-19 virus began, Rep Loebsack has helped pass three significant pieces of bipartisan legislation in response. The three bills include The Coronavirus Preparedness and Response Supplemental Appropriations Act of 2020, Families First Coronavirus Response Act, and The CARES Act. Discussions regarding the contents of a fourth legislative package are ongoing.

For additional Information, Iowans are encouraged to visit Rep Loebsack’s COVID-19 Information Guide located on his website.

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