WASHINGTON – U.S. Sen. Roger Wicker, R-Miss., chairman of the Senate Committee on Commerce, Science, and Transportation, today spoke on the Senate floor in support of the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020, which is part of the broader Senate economic response package. The legislation would allow the Treasury Secretary to provide up to $208 billion in collateralized loans and loan guarantees to American industries whose operations are jeopardized as a direct result of the coronavirus outbreak.
Click here to watch Chairman Wicker’s floor speech.
Excerpt from Chairman Wicker’s remarks, as delivered, below:
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In some instances when there is a crisis, we are told to “carry on,” and in this case that really is not what the healthcare professionals have told Americans to do. Americans have been told and people around the world have been told to stay home, don’t congregate – well, that is the way our economy operates. So, Americans are doing what they have been asked to do.
We are not flying. We are not staying in hotels. Occupancy is down to single digits. Restaurants are closed. Stores are closed. Americans are keeping their children home from school – schools are not open in most areas. Again, the American people are acting responsibly according to what they have been told to do by health professionals.
The public is taking guidance, and this is having an enormous toll on our economy. We hope the virus will end soon, but we need a rescue package.