Congressman Cohen Votes for Fourth Coronavirus Response Bill

WASHINGTON – Congressman Steve Cohen (TN-09) returned to Washington and voted today for a $484 billion response to the coronavirus pandemic with aid concentrated on small businesses and hospitals. This is the fourth bill Congress has passed to address the crisis that devotes $60 billion for loans to small businesses, such as minority-owned, women-owned and veteran-owned enterprises. In addition, the bill provides $60 billion for the Economic Injury Disaster Loan program administered by the Small Business Administration (SBA) and $25 billion for testing.

Congressman Cohen also voted to establish a Select Subcommittee on the Coronavirus Crisis to give oversight to the massive spending and tax provisions used to address the pandemic, some of which have clearly been misdirected and not as intended by Congress.

The vote on the aid bill was 388 to 5. The vote on the select subcommittee was 212 to 182.

Congressman Cohen made the following statement:

"We are spending taxpayer money on this crisis at an unprecedented rate, and Americans expect and deserve to have it spent wisely and fairly. Our first effort to help small businesses maintain their payrolls did not contain the safeguards needed to ensure the Trump Administration would fairly distribute them and many small businesses lost out while large employers with access to capital, such as restaurant and hotel chains, received these loans. Today's bill attempts to rectify that by devoting $60 billion in Paycheck Protection Program funds to smaller lenders. This bill also provides personal protective equipment and support for hospitals. I'm also proud to support the oversight subcommittee we established today that will look into misguided tax breaks for millionaires included by Republicans in the first CARES Act."

Congressman Cohen has asked for repeal of a provision in the CARES Act, expected to cost taxpayers $86 billion this year, that would provide an average $1.6 million tax break to individuals, 80 percent of whom are millionaires. He has also asked the Federal Aviation Administration (FAA) to suspend CARES Act spending for airports until a more equitable funding formula can be found.

He was asked about today's votes Thursday morning on C-Span's Washington Journal. See that interview here.