A note
from U.S. Senator Lamar Alexander to his fellow
Tennesseans:
Sweeping relief is on its way to help
keep paychecks coming for Tennessee workers and relieve financial
burdens for Americans hurt by COVID-19.
Across our state, people are anxious and many are struggling. I
cannot remember a time in my life, or in our nation’s history, when
the government has temporarily shut down the country or individual
states in order to contain a disease, but that is what we have seen this
month. And if the federal government is going to close parts of the
economy, for the safety of the people, the federal government needs to
pay for it.
The United States Congress
passed, and President Trump signed into law, unprecedented
legislation that will provide $1,200 checks for individuals, increase
unemployment compensation, defer tax and student loan payments, generate
trillions of dollars in economic support to keep businesses open, and provide
billions of dollars to help hospitals buy medical supplies and speed
the development of tests, treatments and vaccines.
You can find more information at my website – https://www.alexander.senate.gov/public/index.cfm/covid-19-response-and-resources-for-tennesseans – to help you take advantage of this federal assistance
package, as well as resources on how Tennesseans can contain the spread
and impact of this virus.
These are
trying times, but Tennesseans are resilient. As chairman of the Senate
health committee, I will continue to work to bring much needed relief
to Tennessee as we fight to deal with the impact and containment of
this disease.
Below is an op-ed I wrote
for the Tennessean that explains the new law and
what Congress is doing to help Americans during this
crisis.
– Lamar Alexander, U.S. Senator for
Tennessee
The
Tennessean: Lamar Alexander: How the new coronavirus relief
law helps Americans
March 31, 2020
https://www.tennessean.com/story/opinion/2020/03/31/lamar-alexander-coronavirus-relief-law/5094100002/
The government has temporarily shut
down the economy because of the COVID-19 coronavirus, and the government
must help those who are hurt by it.
Here is an email I received from the owner of a kennel in Blount
County, one of hundreds I’ve received from Tennesseans wanting to
know how the new federal law to help Americans hurt by COVID-19 affects
them:
“We are
suffering a massive drop off in our business as a result of the
coronavirus. I fear we may have to close our doors for a month or two. ...I
am currently trying to secure around $50,000 in loans to supplement
our dwindling reserves to see us through until May or June.
…We're not seeking charity, just a business loan for $30,000 to $50,000 to
secure our business until this passes. We always pay our
way.”
The first goal of this new law is to
keep paychecks coming, so there are small business loans that may be
forgiven to help businesses like the kennel in Blount County, and
there are also loans for large businesses to help stabilize the economy
and keep their employees working.
How
the law helps businesses and workers
Here is how the new law will help keep paychecks
coming:
- A loan to cover 8 weeks of
payroll: Small businesses can get a loan of up to 2.5 times
their average monthly payroll. Their expenses for payroll,
employee benefits, rent, utilities and interest on a mortgage during this 8
week period will be forgiven. The Treasury Department will approve
many lenders to make these loans, and could be the bank you already use,
or a nearby bank.
- Paid
Sick leave: Employers with fewer than 500 employees must
pay two weeks of sick leave up to $511 per day for any employee who is
sick, quarantined, is caring for someone who is sick, or is caring for
a child whose school is closed. The employer must pay for 10 more
weeks of family leave, up to $200 per day, for an employee who is caring
for a child whose school has closed or their childcare provider is
unavailable. The federal government will reimburse employers for the
full cost of this sick and family leave and advance funds to
employers who do not have the cash to pay it.
- Unemployment compensation: The federal
government is giving states an extra $600 to add to every laid off
employee’s unemployment compensation check for 16 weeks. In Tennessee,
the maximum weekly benefit is $275; with an additional $600 it will be
$875.
How the law
provides economic relief to Americans
The second goal is to relieve the financial burden on as many Americans
as possible.
If an individual made
less than $75,000 in 2019, they will receive a $1,200 check, or $2,400
per couple, with an additional $500 for each eligible child. The
Secretary of the Treasury said he hopes these checks will begin to arrive
within three to four weeks. This one-time payment does not have to be
paid back and is in addition to your paycheck, unemployment benefits,
disability or Social Security checks.
Federal income taxes don’t have to be filed until July 15,
estimated tax payments can be delayed until October 15, and it will
be easier to use retirement savings without a penalty.
Student loans payments are delayed without interest or
penalty for six months for 95 percent of borrowers.
How the law fights the coronavirus
The third goal is to contain the disease. Here is how
this bill will help:
- All
COVID-19 tests are now free;
- $100 billion is provided to help hospitals, including hospitals in
Tennessee
- $16 billion to buy more
protective equipment, ventilators and medical supplies
- $11 billion to speed up new treatments and hopefully a
vaccine.
- $33 billion to help
schools and colleges that had to close early and to provide immediate
assistance to child care centers.
The most frequent question I’ve received is when can we go back
to work and out to eat and travel again? There are different opinions
about this. Governors, listening to the advice of public health and
medical professionals, should say
when we safely can relax restrictions on traveling, dining
and working.
My hope is that,
by listening to public health experts and making millions more tests
available, we will be able to quickly identify those who have the virus
so they can quarantine and seek care and those who do not have the
virus can feel comfortable going back to work and out to eat using common
sense hygiene and other precautions including social
distancing.
It will likely not happen all at
once, and there will be places where we have to pause again. But we
will get there.
Lamar Alexander,
R-Tennessee, is chairman of the U.S. Senate health committee.
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