Cornyn’s Support of the CARES Act Keeps Texas “In Business”
When the Coronavirus pandemic hit America’s shores, it struck a devastating blow to our economy. Businesses had to shudder or scale down their operations, and millions across the country faced a near impossible task of making ends meet despite reduced wages or job losses.
In such extraordinary and unknown times, Senator Cornyn knew Congress had to act and provide a bridge of relief, ensuring Texans kept a roof over their heads and food on their table. The senator’s support of the CARES Act did just that.
The Paycheck Protection Program (PPP), in particular, was a critical lifeline — providing forgivable loans to businesses that retained or rehired their employees. Resources were also allocated for local governments, law enforcement, community hospitals, airports and more. It wasn’t perfect and tweaks were subsequently made to ensure assistance was delivered as intended, but, ultimately, it kept Texas “in business.”
Here is a snapshot of how Senator Cornyn delivered the CARES Act to Texas:
KFDX/KJTL (Wichita Falls)
Cornyn: Central Texas public housing to receive $1.1M in COVID-19 relief funds FOX (Waco, Temple, Killeen)
KFDX/KJTL (Wichita Falls)
Marshall News Messenger
WTAW (Bryan-College Station)
Friday’s report of 4.8 million new jobs (the largest one month job gain in U.S. history) and falling unemployment is incredible. In the months ahead, we should expect our economy to regrow with some fits-and-starts. We are all adapting to the reality that we must live in a world where Coronavirus exists, and do our part to stay safe and be responsible.
The CARES Act designated:
- $377 billion to help small businesses continue to pay their employees
- Immediate cash flow to individuals who – through no fault of their own – were unable to work and earn a paycheck
- A family of four making less than $150,000 could receive up to $3,400 to help pay bills and put food on the table
- Unemployment benefits to Texans who are self-employed or independent contractors
- Unemployment benefits will be increased $600 more per week through July 31, 2020
- Paid family leave for 12 weeks for those who fell ill or cared for someone who was ill
- Deferred repayment of student loans for up to six months without garnering penalties
- Vital industries like airlines, hotels and hospitality would be eligible for loans to carry them through this time without letting down the thousands of Texans who work for them, and the millions who will again rely on them for entertainment and travel
This bill will also send money to state and local governments to strengthen their community’s response efforts, including $850 million directly to law enforcement officers for personal protective equipment and overtime. More than $100 billion also went to support other heroes on the front lines: our community hospitals (especially rural hospitals), telehealth providers, and health care workers.