House Passes Phase Three Coronavirus Bill, Relief Coming for Constituents & Small Businesses
Today, the U.S. House of Representatives passed the "CARES Act" Coronavirus relief package - sending this landmark legislation to President Trump's desk.
The Coronavirus, which originated in Wuhan, China, has accelerated into a global pandemic and gravely affected health, businesses, careers, and family plans of nearly every American. Representative Jack Bergman supported the legislation, as many of its provisions will directly help Michigan’s First District. He issued the following statement:
"The CARES Act provides essential, targeted, and temporary action for First District families, rural health care providers, small businesses, self-employed workers, and non-profit organizations. The government has asked Michiganders to close their businesses, sacrifice their livelihoods, and slow down our local economies to flatten the curve. The CARES Act is a necessary step at the federal level to help with economic recovery.
"However, I’m disappointed with some aspects of this bill that are unrelated to COVID-19 recovery efforts and I share the concerns of many that unintended consequences of this legislation could impact workforce needs for our small and seasonal businesses. I will continue working to ensure these issues are addressed. Strong leadership at the state level will also be essential to make sure appropriate action is being taken to manage these resources and appropriately plan for the challenging days ahead."
Additionally, the CARES Act included provisions Rep. Bergman introduced in the House to protect seniors’ retirement accounts. Rep. Bergman's proposal will suspend tax penalties on seniors who do not take a required minimum distribution (RMD) in 2020, allowing seniors the flexibility to keep more money in their retirement accounts and give the stock market a chance to recover losses.
The CARES Act includes major provisions to:
Related CARES Act Information:
CARES Summary of Health, Tax, Unemployment, Small Business, and Distressed Industries Provisions
CARES Act - Jobs & Economic Importance of U.S. Infrastructure Network
CARES Frequently Asked Transportation Questions