Congressman Tim Ryan Applauds Passage of Coronavirus Economic Stabilization Package
Washington, D.C. – Congressman Tim Ryan today applauded passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which will now go to the President’s desk for his signature.
“I am proud to support this legislation, which will bring urgently needed support to families and small businesses all across this country, including needed resources for northeastern Ohio,” said Congressman Tim Ryan. “At this time of uncertainty, this legislation will ensure that workers, their families, and their businesses have the resources they need for their economic survival. This legislation will also ensure that every American has access to needed health resources throughout this unprecedented crisis.”
Among the numerous initiatives in the bill that will benefit Ohio is a $150 Billion State and Local Coronavirus Relief Fund, of which $4.533 Billion is allocated for Ohio. This will be to provide the state and local government entities additional resources to deal with the effects of the coronavirus. Additionally, this bill provides expanded unemployment benefits for Ohio workers, including those in the gig economy and self-employed workers. Eligible workers would receive an additional $600 per week for the next four months, and an additional 13 weeks of federally funded benefits.
Immediate cash payments of up to $1,200 for each adult and $500 for each child will be available to lower and middle-income Americans, beginning to phase out for individuals making over $75,000 per year and $150,000 for a household. The Small Business Relief fund will provide for $349 billion for forgivable loans, $17 billion for debt relief, and $10 billion for immediate disaster grants.
For those on our front lines in dealing with the coronavirus, approximately $200 billion is being provided for our hospitals, health systems, and health research, and includes expanded resources to purchase protective equipment that is need by our health care workers, including ventilators, n95 masks, gowns, and gloves and other necessary equipment. This bill also provides $349 billion for forgivable loans to small businesses, $17 billion for debt relief for SBA borrowers; and $10 billion in immediate disaster grants.
Other resources provided:
- More Than $100 Billion in Additional Emergency Appropriations, Including the Following:
- Transit Agencies: Provides $25 billion to transit agencies, which have all seen a drastic drop in revenues as social distancing has been implemented. This funding is to be used to protect the jobs of the employees of the transit agencies, funding their paychecks during this public health emergency. Our state of Ohio will receive $474 million under this program.
- HUD Emergency Solution Grants: Provides $2 billion for HUD Emergency Solution Grants to states that will be distributed by formula. These grants are designed to address the impact of the coronavirus among individuals and families who are homeless or at risk of homelessness, and to support additional homeless assistance, prevention, and eviction prevention assistance. Of this $2 billion, Ohio will receive $91 million. In addition, the bill provides an additional $2 billion for these grants that will be allocated by HUD to the most hard-pressed areas.
- Child Care and Development Block Grant: Supports child care and early education by providing $3.5 billion for the Child Care and Development Block Grant. Ohio will receive $116.5 million under this emergency appropriation.
- Low-Income Home Energy Assistance Program (LIHEAP): Provides $900 million to help low-income families pay their heating and cooling bills. Ohio will receive $12.6 million for this purpose during this public health emergency.
- Byrne-Justice Assistance Grant Program: Provides $850 million for this program, giving additional support to state and local law enforcement agencies, thereby allowing them, for example, to obtain the personal protective equipment and other medical items they may need during this public health emergency. Ohio will receive $25 million under this appropriation.
- CDC Coronavirus State, Local and Tribal Grants Minimum Awards: Provides about $750 million in CDC State, Local, and Tribal Grants Minimum Awards to help agencies cope with the public health emergency. The minimum award for Ohio $17 million. In addition, states can apply for additional funds above their minimum award, based on their needs.
- Election Assistance: Provides $400 million for Election Assistance Grants for states to help prepare for the 2020 elections. Coronavirus is already resulting in the postponement of some primaries and this funding can help states make voting safer for individuals. Funding can be used, for example, to increase the ability to vote by mail, expand early voting, and expand online registration. Ohio will receive $12.8 million for these purposes.
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