Today, the House of Representatives passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This bill was passed unanimously by the Senate on March 25^th and will now head to the White House for President Trump’s signature.

This legislation will provide desperately needed resources to healthcare providers and patients, relief to American workers, families, small businesses and industries, and will stabilize our economy during these uncertain times.  

Following the passage of the bill, Rep. Chris Stewart (UT-02) released the following statement:

“This is an unprecedented time in our nation’s history. We’re facing an invisible enemy that has affected every American in one way or another. Millions have lost their jobs and millions are worried about their health and livelihood.

The provisions in this rescue package are imperative to helping families and small businesses survive the next few months. This is an essential lifeline that will give Americans support and hope.” – Rep. Chris Stewart

More about the CARES Act:

•          Provides grants and loans to small businesses to meet payroll and pay rent.

•          Sends direct checks to individual Americans of up to $1200.

•          Allows regulatory relief so banks can grant loan forbearance for otherwise healthy businesses struggling while business has been shut down.

•          Provides Treasury and the Fed the ability to provide several trillion in assistance to distressed industries, including airlines, through guaranteed loans while also including strong accountability protections.

•          Rushes resources to hospitals, doctors and other front-line providers.

•          Expands the use of Telehealth medicine to surge capacity and diagnose and treat patients in safe and faster environment.

•          Temporarily expands unemployment insurance to provide a life line for those who have lost their jobs.

•          Provides tax policy incentives, such as fixing key technical corrections from the tax cut and Jobs Act, including QIP and NOL.

•          Provides liability protection for providers who volunteer (Good Samaritan).

•          Allows HSAs to be used to purchase over the counter medicines.

•          Extends expiring health extenders to November.

For information regarding Coronavirus relief resources, please visit stewart.house.gov.