– Today, Congressman Chris Stewart (UT-02) voted in favor of the Paycheck Protection Program and Health Care Enhancement Act. This bill provides critical relief to American small businesses, extra support to our healthcare system, and allows for expanded testing. 

Following the vote, Rep. Stewart issued the following statement: 

“This additional rescue package is critical to our future, but it comes at a hefty cost. I recognize the dire need for assistance, given the unprecedented circumstances surrounding this pandemic, but the scope of this economic relief is truly frightening. Congress must immediately act to address our debt and spending. I call on my colleagues to join with me in tackling this most pressing issue.” – Rep. Chris Stewart 

What’s in the Bill?

 Relief for small businesses: 

• $310 billion for the Small Business Administration’s successful Paycheck Protection Program, which will allow the Trump Administration to continue providing forgivable loans to cover the cost of payroll and operating expenses for small businesses.
• $60 billion for the Small Business Administration’s economic injury disaster loans and grants, including: 

• • $50 billion for economic injury disaster loans - each loan can be up to $2 million with interest rates not to exceed 4% and long-term repayment periods of up to 30 years; and
  • $10 billion for grants of up to $10,000 that do not have to be repaid. 

• Additional funds are provided for the Small Business Administration to administer these programs. 

Extra support for hospitals and healthcare providers:

• $75 billion to support the heroes on the front lines of this crisis and our healthcare system, including additional funding to reimburse hospitals and healthcare providers for lost revenues and expenses related to the outbreak. 

Expanded testing: 

• $25 billion to expand testing, which will provide information on where cases are occurring, and support continued efforts to reopen communities and reignite our record-breaking economy.