Great news: the Senate just passed the CARES Act. That means additional resources are coming to support the economy and help Texans and our healthcare facilities fight this virus.
I’ve been hearing from small business owners across the state concerned about remaining open once this is all over.
This isn’t just about their bottom line, it’s about the livelihoods of employees who don’t know when their next paycheck will come.
I’m happy to report that help is on the way.
The CARES Act will:
Help small businesses keep workers on their payrolls by providing nearly $400 billion in funding.
Give immediate and direct assistance directly to Texans struggling to make ends meet – with families of four making less than $150,000 a year receiving up to $3,400 to help put food on the table.
Make self-employed Texans eligible for unemployment benefits – including independent contractors and gig-related workers like Uber drivers, until the end of 2020.
Add additional unemployment benefits, including $600 more per week through July 31, 2020 and an additional 13 weeks of unemployment insurance eligibility if workers exhaust state benefits through December 31, 2020.
Help students by deferring payments, principals, and interest for student loans for six months without penalty.
Support hospitals, telehealth expansion, and health care workers fighting the virus on the front lines by providing $100 billion in support.
Provide loans – not bailouts – to important industries that employ tens of thousands of Texans while making sure executives don’t use funds to line their own pockets.
You can read more about the CARES Act here.
This is the third bill I’ve voted for to help ensure people have the resources they need during the COVID-19 outbreak – but we aren’t out of the woods yet.
As long as this is happening, I’ll continue to fight for what’s best for all Texans.
For Texas,
John