United States Senator Mike Crapo - Idaho
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**DROPPING IN THIS ISSUE:**
- Information on phase 3 of coronavirus
emergency legislation.
- Information about coronavirus-related scams.
Today marks one week since the Senate passed the Coronavirus, Aid,
Relief, and Economic Security (CARES) Act, and five days since
President Trump signed the bill into law.
This phase 3 of coronavirus
emergency legislation will assist workers, families and small businesses who
face financial fallout during this extraordinarily difficult time.
With
President Trump extending the Centers for Disease Control and
Prevention (CDC) social distancing guidelines [link 1]through April 30,
Americans continue to search for information to help answer their questions
about relief checks, small business assistance and state-wide
stay-at-home orders.
As the days of uncertainty surrounding the COVID-19
pandemic continue, you can find more information regarding the state of
Idaho, the CDC, small business assistance and the Internal Revenue
Service (IRS) by visiting my website at:
[link removed] [link 2].
I continue to follow CDC social distancing and
hygiene guidelines, and encourage all Idahoans to do the same to help
us "flatten the curve" and reach the other side of this crisis
together.
Below is information regarding the CARES Act, as well as
information to warn and protect individuals from scammers using this time of
fear and confusion to target vulnerable people.
*Phase 3--The CARES
Act*
The CARES Act [link 3]puts needed cash directly into the hands of
American workers and families, provides rapid relief to small
businesses, helps stabilize our markets and the economy, and sends a massive
new infusion of resources to the front lines of the medical
response.
As Senate Banking Committee Chairman, I worked on the Senate task
force charged with addressing small and mid-size business, and market
liquidity issues.
I also led negotiations [link 4]on a provision that
designates $500 billion to the Exchange Stabilization Fund housed within
the U.S. Treasury Department. The Federal Reserve will use $454 billion
of this fund to stabilize markets and provide broad-based loans to
eligible businesses, States, municipalities and Tribes that have
incurred losses related to this coronavirus.
Importantly, the Federal Reserve
can leverage this money to inject many times that amount into the
marketplace, unleashing upwards of $4 trillion into the economy.
The
legislation also states that the Federal Reserve has discretion to
establish a Main Street Lending Program or similar facility that supports
lending to small and mid-size businesses.
This will be a critical tool as
Main Street businesses seek funding to stay open and keep their
employees on payroll until this crisis has passed.
The CARES Act takes a
number of additional bold steps to preserve and protect the economic
foundations of our nation and help those on the front lines fighting
this epidemic:
-
Direct financial help for the American people
including cash payments, expanded access to unemployment insurance and delayed
tax filing deadlines;
-
Rapid relief for small businesses and
incentives to keep their employees on payroll, including farming
enterprises with 500 or less employees;
-
$9.5 billion for impacted
agriculture producers;
-
$14 billion for the Commodity Credit Corporation,
which funds agricultural programs to strengthen commodity and income
support programs, natural resources conservation and disaster
assistance;
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Significant steps to stabilize our economy, keep businesses open
and protect jobs;
-
Bolstered telehealth capabilities and additional
flexibilities;
-
Increased support for health care services at the
U.S. Department of Veterans Affairs (VA) facilities;
-
Ensured
patient access to any future COVID-19 vaccine by waiving cost-sharing
requirements in private and federal health insurance programs;
-
Expansion
of and increased funding for the Strategic National Stockpile to
include personal protective equipment; and
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More support for the brave
health care professionals and the patients fighting the coronavirus on
the front lines.
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Invasive and destructive
scammers are taking advantage of the fears and concerns surrounding the
coronavirus pandemic and using passage of the CARES Act to scam vulnerable
individuals into providing personal or financial information.
Be
mindful of the calls you receive, items you receive in the mail and emails
from unknown senders.
Take extra precautions when sharing any
personally-identifiable information online and through the mail, and report
any suspicious activity to the respective federal agencies.
For more
information from the IRS on relief checks, visit:
[link removed] [link 6]
For more information on tax scam information,
visit: [link removed] [link
7]
For more information regarding Social Security Administration scam
information, visit: [link removed] [link 8]
For more
information regarding scams targeting SNAP recipients, visit:
[link removed] [link 9]
**Helpful Links **
Idahoans can continue to find
updated information from Governor Little's central information portal
at [link removed] [link 10].
Additional national
guidance and information can be found through the CDC website at
[link removed] [link 11].
For additional assistance and to keep up
with what the Senate is doing please see my website at
[link removed] [link 12]
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Contact Information:
Website:
Offices:
239
Dirksen Senate Building
Washington D.C., 20510
Phone: (202) 224-6142
Idaho Falls
410 Memorial Drive
Suite 205
Idaho Falls, ID 83402
Phone:
(208) 522-9779
Boise
251 East Front Street
Suite 205
Boise, ID
83702
Phone: (208) 334-1776
Lewiston
313 'D' Street
Suite 105
Lewiston, ID 83501
Phone: (208) 743-1492
Caldwell
524 East Cleveland
Blvd.
Suite 220
Caldwell, ID 83605
Phone: (208) 455-0360
Pocatello
275 South 5th Avenue
Suite 100
Pocatello, ID 83201
Phone: (208)
236-6775
Coeur d' Alene
610 Hubbard Street
Suite 209
Coeur d' Alene, ID
83814
Phone: (208) 664-5490
Twin Falls
202 Falls Avenue
Suite 2
Twin Falls, ID 83301
Phone: (208) 734-2515
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