Loebsack Statement on the Passage of Interim Emergency COVID-19 Relief

Washington, D.C. – Congressman Dave Loebsack released the following statement today after the House passed the fourth bill designed to help combat COVID-19 and its effect on our economy. “The Paycheck Protection Program and Health Care Enhancement Act” contains relief for small businesses, funding for hospitals and testing, and protects the livelihood of Iowans. Specifically, this bill sets aside $60 billion within the Payment Protection Program (PPP) for underserved small businesses, including those in rural areas. The bill passed the House on a bipartisan vote and now heads to the President for his signature.

“It’s clear that small businesses are still struggling and in need of an immediate infusion of funding. I am pleased that the House and Senate again came together in a bipartisan manner to swiftly make this funding available to small businesses. The Paycheck Protection Program has proven to be a popular program, with the Small Business Administration already approving 1.6 million loans to small businesses. The bill passed today contains an additional $310 billion in emergency resources to help protect the livelihood of the American people. I am especially pleased that $60 billion of the PPP will be set aside to specifically benefit underserved communities, including rural areas. Additionally, I will work with my colleagues to provide oversight of PPP to ensure these funds get to the small businesses who actually need the assistance. It is imperative that loopholes can no longer be exploited and turned into a bailout for large publicly traded corporations.

“Further, I am pleased that this bill provides additional, much needed funding for hospitals and expanded testing. Since this crisis began, I have heard from the healthcare workers on the frontline of this pandemic about the need for additional PPE and testing capacity. The addition of $75 billion for hospitals and healthcare workers, and $25 billion to expand COVID-19 testing, are key to reopening our economy and protecting our those on the frontline. They must have the equipment necessary to keep themselves, patients and their families safe.”