Rutherford Applauds House Passage of CARES Act
WASHINGTON, D.C. – Today, Congressman John Rutherford (FL-04) applauds the House passage of H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This bipartisan legislation is the third economic assistance package approved by Congress to maintain stability and fight the COVID-19 pandemic.
“As the COVID-19 pandemic began to spread across our country, Congress knew we would need to put aside partisan politics and come together to deliver prompt relief for the American people,” said Rep. Rutherford. “While the bipartisan legislation we passed today is not the bill I would have written, it is the best that could be negotiated. It will deliver immediate, critical assistance to health care heroes on the front lines and support individual workers and small businesses negatively impacted by the coronavirus. America is resilient in times of crisis – today’s challenges are no exception. Thank you to my colleagues on both sides of the aisle for getting this done.”
Major provisions in the CARES Act include:
- Direct payments to qualified individuals with checks of $1,200 for individuals, $2,400 for couples, and $500 for children available for those with incomes at or below $75,000 individual/$112,500 head of household/$150,000 filing jointly. Payments are then incrementally lowered, based on income level, for taxpayers below $99,000 individual/$198,000 filing jointly.
- Unemployment insurance benefits increased by $600 a week for four months or four months-worth of income for furlough or job loss due to COVID-19.
- $150 billion Coronavirus Relief Fund distributed to states, tribal governments, and local government.
- $100 billion for hospitals and providers.
- $16 billion for the Strategic National Stockpile to procure personal protective equipment (PPE), ventilators, and other medical supplies for federal and state response efforts.
- $11 billion for the Public Health and Social Services Emergency Fund for the manufacturing, production, and purchase of vaccines, therapeutics, diagnostics, and other medical or preparedness needs.
- $367 billion in federally guaranteed loans for small businesses.
- $500 billion for major business sectors, including commercial and cargo air carriers, to access liquidity, which will be overseen by an inspector general and an oversight board.