March 17, 2020
By: Caity Witucki
Senator Marco Rubio Discusses COVID-19 Relief Bill
Appearing this morning in an interview on “Fox & Friends” with hosts Steve Doocy, Ainsley Earhardt, and Brian Kilmeade, Senator Marco Rubio discussed the proposed COVID-19 relief bill that was presented by House Small Business Committee Chairwoman, Nydia M. Velázquez last Thursday.
“These are not ordinary times. This is not a bunch of businesses who made a bad decision and now are looking for the government to help them out. This is a virus that threatens our economy because in order to prevent this virus from killing a lot of people we have the force people or ask people to stay home and not go to businesses. The result is people are going to lose their jobs, businesses are going to close, and we’re going to have to do something to buffer that,” Rubio told Fox News. “What the House passed is not perfect, but I think the price of inaction at this point is way too high.”
According to a House press release, the proposed SBA Business Stabilization Direct Loan Program Act of 2020 would:
- Allow the SBA to make direct no-interest loans to borrowers impacted by COVID-19.
- Make small businesses located in a state or territory with a confirmed or presumed positive case of COVID-19 eligible for loans.
- Allow for loans to be used to provide employee benefits, pay wages, pay taxes, make telework arrangements, pay rent, refinance existing debt, and more.
For the full text of the bill, click here.