Cooper Commends Passage of Coronavirus Stimulus Bill
WASHINGTON – U.S. Rep. Jim Cooper (TN-05) made the following statement after H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act passed the House by voice vote:
“Coronavirus is an unprecedented pandemic, and this is an unprecedented bill. It is the largest economic relief bill passed in America’s history, Rep. Cooper said. “It is important that Congress acted quickly so we can help people and businesses who are struggling. Now the administration needs to get the money out the door fast to help everyone through this crisis.”
The CARES Act provides monetary relief through government-distributed direct payments to taxpayers. It creates a new, temporary Pandemic Unemployment Assistance program to help those who have lost their jobs due to the coronavirus pandemic, including self-employed individuals and independent contractors. Unemployed Tennessee residents will receive 4 additional months of unemployment insurance as well as an additional $600 per week in addition to the base amount received from the state. The bill also prevents landlords from evicting tenants for 120 days and provides protection for single-family and multi-family homeowners. The bill also defers payment, principal, and interest for federal student loan borrowers through September 30, 2020. There are numerous resources for small businesses, which may be found here.
Additional information is available on Rep. Cooper’s website.