Mar 23 2020
Washington—Senator Dianne Feinstein (D-Calif.) today released the following statement on the need for a robust economic recovery bill:
“I’m hopeful that Senate leaders and Secretary Mnuchin will reach an agreement on the coronavirus relief bill as soon as possible.
“I spoke last night with a large employer in California who has laid off thousands of workers because his stores are closed. Those workers are the people on whom a recovery bill must focus. We need to help them get through this crisis and make sure their jobs are waiting for them once we address the public health crisis.
“Many businesses, large and small, have had to shut down to help stop the spread of the coronavirus. Congress needs to respond in order to minimize the damage this pause does to our economy.
“First, we need to help small businesses stay afloat. Providing loans that will be forgiven if businesses maintain their payroll is a good first step. Small businesses are the cornerstone of our economy and they’re going to need a lot of help.
“Second, we should issue payments to families that need help paying their bills. According to the Federal Reserve, 40 percent of Americans don’t have enough savings to cover unexpected expenses of $400 or more. These payments should go to families that need them to survive.
“Third, we need to expand unemployment insurance so Americans who lose their jobs and exhaust state unemployment benefits will have money coming in for a longer period.
“There are other tools we can consider, but the bottom line is that we need to offer the economy a sense of stability and assure Americans that the government will continue to help them get through this.”