The CARES Act Is ‘A Critical First Step’ To Help Americans

Leader McConnell ‘Was Determined To Put His Own Stamp On The Next Economic Aid Plan,’ Which ‘Senators In Both Parties Hailed The Passage Of … Especially Considering The Extraordinary Circumstances’

“[T]he majority leader was determined to put his own stamp on the next economic aid plan, which was shaping up as far larger, and wanted to make sure Republicans controlled and got credit for the final product.” (“As Coronavirus Spread, Largest Stimulus In History United A Polarized Senate,” The New York Times, 3/26/2020)

• “He recognized he would need Democratic votes in both the Senate and House, but Republicans hold the majority in the Senate, and Mr. McConnell decided it was Republicans who would lead on this third, much larger relief bill.” (“How The Coronavirus Stimulus Deal Came Back From The Brink,” The Wall Street Journal, 3/27/2020)

• “For McConnell, it was a chance to assert the power of his Republican majority … McConnell and administration officials were encouraged by a president who urged negotiators behind the scenes to ‘be bold, be brave and go big.’” (“Inside The Talks On The Largest U.S. Bailout: Frantic Negotiations, Partisan Tensions And A Trump Tweet,” The Washington Post, 3/27/2020)

SENATE MAJORITY LEADER MITCH McCONNELL (R-KY): “It was in the end a bipartisan product, but a significant portion of it was exactly as it would have been done if we had been doing it all by ourselves.” (“How The Coronavirus Stimulus Deal Came Back From The Brink,” The Wall Street Journal, 3/27/2020)

• “McConnell described the final product as a ‘Republican-leaning bill’ that meets his ‘four pillars’: aid to small businesses, direct cash payments, loans to companies in distressed industries, and money to fund the medical response to the coronavirus crisis.” (“How The $2 Trillion Deal Came Together — And Nearly Fell Apart,” Politico, 3/26/2020)

“Having watched the crisis tear through China and Italy, Senator Marco Rubio, Republican of Florida, who leads the panel, and Senator Ben Cardin of Maryland, the top Democrat on the committee, began working on their own plan in late February. They were joined by Senator Susan Collins, Republican of Maine and a former Small Business Administration official, and Senator Jeanne Shaheen, Democrat of New Hampshire, in producing a new $377 billion program to provide forgivable loans to small businesses.” (The New York Times, 3/28/2020)

“Senators in both parties hailed the passage of the Coronavirus Aid, Relief, and Economic Security, or CARES Act, as a major achievement, especially considering the extraordinary circumstances — a largely deserted Capitol, senators huddled in self-quarantine and a country slowly shutting down to save itself from even more suffering.” (“How The $2 Trillion Deal Came Together — And Nearly Fell Apart,” Politico, 3/26/2020)

Senate Republicans: ‘Congress Is Doing Its Part Too By Finally Reaching A $2 Trillion, Bipartisan Agreement’: ‘This Historic Package Will Rush Assistance To American Workers, Families, Businesses, And Health Care Providers’

SEN. RICHARD SHELBY (R-AL): “Our country was in the midst of record economic growth and historic unemployment lows before the coronavirus pandemic. The hardworking citizens of Alabama and others throughout our county did nothing to deserve the public health and economic chaos we are currently experiencing…. [O]n March 25, the Senate came to a unanimous agreement on a monumental coronavirus relief bill. This historic package will rush assistance to American workers, families, businesses, and health care providers, delivering over $2 trillion in relief in an effort to save lives, relieve financial burdens, and stabilize our economy.” (Sen. Shelby, Op-Ed, “We’re Stronger Together, But Safer Apart,” The Montgomery Advertiser, 3/30/2020)

• “This is what my colleagues and I were elected to do. Congress needed to act urgently and boldly. After an unsettling and partisan start to 2020, Congress was able to cast aside our differences and come together in short order for the good of our country.” (Sen. Shelby, Op-Ed, “We’re Stronger Together, But Safer Apart,” The Montgomery Advertiser, 3/30/2020)

SEN. SUSAN COLLINS (R-ME): “All across the country, Americans are stepping up in response to the coronavirus pandemic sweeping our nation….Congress is doing its part too by finally reaching a $2 trillion, bipartisan agreement that will help protect the health of the American people and support our economy. Last week, the Senate unanimously passed this urgently needed economic relief by a vote of 96-0.” (Sen. Collins, Op-Ed, “Aid Package Will Limit COVID-19’s Economic Damage,” Portland Press Herald, 3/29/2020)

SEN. CORY GARDNER (R-CO): “For American families, the CARES Act provides direct financial assistance to help get them through this crisis: $1,200 for individual tax filers, $2,400 for married couples, and an additional $500 per child. It provides relief to small businesses and workers, and it creates a new ‘Pandemic Unemployment Assistance’ program to allow far more Americans to receive financial support during the crisis, including those whose employers were forced to close.” (Sen. Gardner, Op-Ed, “Colorado Will Get Through The Coronavirus Pandemic Together,” The Denver Post, 3/30/2020)

• “The CARES Act provides an additional $100 billion to support our brave health care workers and hospitals on the front lines of this pandemic. An additional $150 billion is provided to support states and tribes through the Coronavirus Relief Fund.” (Sen. Gardner, Op-Ed, “Colorado Will Get Through The Coronavirus Pandemic Together,” The Denver Post, 3/30/2020)

SEN. COLLINS: “Help is also on the horizon for small businesses and their employees, who are facing economic devastation through no fault of their own. The agreement includes a bipartisan $377 billion small-business economic relief plan that I authored along with Sens. Marco Rubio, Ben Cardin and Jeanne Shaheen as members of the Small Business Task Force. This aid is essential to reverse the tsunami of unemployment facing our country…. Under our approach, small businesses harmed by the COVID-19 crisis would be eligible for a 100 percent federally guaranteed emergency loan to cover eight weeks of payroll as well as rent, mortgage and utility payments. To help keep workers paid and employed, the portion of the loans used for payroll costs and certain overhead expenses would be completely forgiven. Workers who have already lost their jobs because of this crisis could be rehired under our program.” (Sen. Collins, Op-Ed, “Aid Package Will Limit COVID-19’s Economic Damage,” Portland Press Herald, 3/29/2020)

• “The package provides more than $30 billion for states, school districts, colleges and universities to help them meet the unexpected expenses that have flowed from the coronavirus crisis, such as adapting to remote learning, refunding room and board and delivering free meals to low-income students. Moreover, it suspends student loan payments through Sept. 30 and stops interest from accruing during this time.” (Sen. Collins, Op-Ed, “Aid Package Will Limit COVID-19’s Economic Damage,” Portland Press Herald, 3/29/2020)

Editorial Boards: ‘Congress And The President Have Taken A Critical First Step Toward Eventual Victory,’ ‘Lawmakers Deserve Praise For Teeing Up So Much Aid In Short Order’

CHICAGO SUN-TIMES EDITORIAL BOARD: “Senate Majority Leader Mitch McConnell called the package ‘a wartime level of investment in our nation,’ and he’s correct. The global war against the coronavirus is likely to be costly and protracted. Congress and the president have taken a critical first step toward eventual victory.” (Editorial, “Does The Coronavirus Economic Stimulus Do Enough For The 99%?,” Chicago Sun-Times, 3/27/2020)

• “The nation’s 6,000 hospitals and health care systems are in line for $100 billion to increase staff, buy protective equipment, and cover other costs brought on by the pandemic. That help cannot come quickly enough, as cities are facing severe shortages of masks, ventilators and other equipment. FEMA’s Disaster Relief Fund is set to get a $45 billion boost to help the agency provide help to state and local governments. We also like that food banks will get $450 million.” (Editorial, “Does The Coronavirus Economic Stimulus Do Enough For The 99%?,” Chicago Sun-Times, 3/27/2020)

THE PHILADELPHIA INQUIRER EDITORIAL BOARD: “[T]he bill that passed the Senate and is on its way to approval in the House and by President Donald Trump has a lot of good in it that will ease some of the economic devastation wrought by this crisis. It is a massive bill calling for $2.2 trillion of aid and relief to a wide swath of society…. Individual aid will come in the form of checks of $1,200 for Americans with incomes up to $75,000 ($150,000 for couples). This, in addition to the expansion of unemployment benefits, will provide critical relief, especially for those whose jobs have disappeared overnight.” (Editorial, “Coronavirus relief bill does a lot of good, but it’s just a start,” The Philadelphia Inquirer, 3/27/2020)

LOS ANGELES TIMES EDITORIAL BOARD: “The best features of the bill are the ones that provide a financial cushion to counteract the sharp drop in demand for goods and services. These include grant and loan programs to help companies and nonprofits keep workers on their payrolls, as well as expanded unemployment benefits for those laid off or whose gigs dry up as a result of the outbreak…. The sooner the federal dollars start to flow, the more they will mitigate the damage to businesses, families and the economy as a whole. Lawmakers deserve praise for teeing up so much aid in short order …” (Editorial, “Congress Is Moving Fast On A Coronavirus Economic Rescue — For Better And Worse,” Los Angeles Times, 3/27/2020)

THE WALL STREET JOURNAL EDITORIAL BOARD: “The most important good news this week is the ebbing panic in financial markets. The Federal Reserve unveiled new facilities to provide liquidity to corners of the market where anxiety had shut down trades or threatened a run. Think money-market and municipal-bond funds. The Senate bill that the House passed Friday adds $454 billion for Treasury that can backstop further Fed actions if they’re needed.” (Editorial, “A Week of Coronavirus Pain and Progress,” The Wall Street Journal, 3/27/2020)