March 31, 2020 — The following was released by The Office of Congressman Frank Pallone Jr. (D-NJ):
Congressman Frank Pallone, Jr. (NJ-06) issued the following statement today after the House of Representatives passed H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the third major legislation passed by Congress to respond to the coronavirus pandemic:
“Today, more help is on the way. The CARES Act provides essential assistance to the American people, health care workers, hospitals, small businesses and state and local governments that have been seriously impacted by the coronavirus pandemic. This legislation provides much needed financial relief to laid-off or furloughed workers through increased and extended unemployment insurance so they will continue to receive a paycheck in the weeks and months ahead. It also puts money in the pockets of struggling Americans, and provides grants and loans to small businesses to help them better weather the ongoing economic storm.
“As the coronavirus pandemic overwhelms our health care workers and hospitals, the legislation includes $100 billion to our hospitals and $16 billion for personal protective equipment and other resources for our courageous health care workers so they can safely treat patients. Health care professionals are on the front lines, and we must continue to work to ensure they are protected and have the resources they need to safely do their jobs.
“I’m pleased that this package contains $300 million in funds specifically designated to help fishing communities who have incurred significant economic losses as a result of this pandemic. In my district in New Jersey, the recreational and commercial fishing industry is vital to our coastal communities up and down the Jersey Shore.
“Finally, I’m glad to see that Democrats were successful in removing a provision in the initial draft of the Senate bill that would have provided a $3 billion bailout to the oil and gas industry. This provision had no place in this legislation.
“The CARES Act takes a significant step in protecting the health of all Americans and providing peace of mind during this time of economic uncertainty, but there is a lot more work to do. In future legislation, we must ensure affordable treatment for all, expand distance learning programs and access to the internet for low-income Americans, protect consumers from price gouging and prevent critical services from being shut off during this crisis.”
The CARES Act includes key provisions that give:
$260 billion in Dramatically Expanded Unemployment Benefits: The bill includes numerous provisions to improve unemployment benefits including providing an additional $600 per week for the next four months, providing an additional 13 weeks of federally funded benefits, and expanding eligibility to include workers in the gig economy and self-employed workers.
Immediate Direct Cash Payments to Lower and Middle-Income Americans: The bill provides for immediate, direct cash payments to lower-and middle-income Americans of $1,200 for each adult and $500 for each child, beginning to phase out at an annual income of $75,000 for an individual and $150,000 for a household. These payments will provide individuals with the cash they need right now to survive with much of the economy currently shut down.