Crow Helps Pass Nearly $500 Billion in New Aid for Small Businesses, Hospitals, COVID-19 Testing — Pushes for Increased Oversight for Small Business Programs

Congressman Jason Crow today voted to pass $484 billion to assist businesses, hospitals and testing in the response to the coronavirus (COVID-19) pandemic. The legislation, which passed the Senate on Tuesday, now heads to the President's desk to be signed into law. Prior to the vote, Crow testified in front of the Small Business Committee about the need to fund the small business programs and address any misuse of the relief programs by publicly-traded companies.

"This bill is good, but it is not enough. Our small businesses needed assistance weeks ago and we still don't have the funding we need for our state and local governments," said Crow. "Over the past six weeks, I have heard countless stories from Coloradans worried about the health and safety of them and their loved ones, scared about how they are going to stay afloat as the economy crumbles, and frustrated by leaders in this administration who continue to buck science. History is watching us and it is time Senator McConnell and President Trump put politics aside to protect the American people in this critical moment."

The Paycheck Protection Program and Health Care Enhancement Act includes:

• $310 billion for the Payroll Protection Program (PPP), with $60 billion designated to go through small and mid-size banks, credit unions, community development financial institutions (CDFIs), minority depository institutions, community development corporations, and microloan intermediaries. This will help small businesses without previous or substantive relationships with large banks access this critical funding.
• $60 billion for the Economic Injury Disaster Loans (EIDL) program, including $10 billion in grant funding, which provides economic relief to businesses that are currently experiencing a temporary loss of revenue--in line with what Rep. Crow called for in a letter to House Leadership on the Small Business Committee on April 15.
• $75 billion to reimburse hospitals and health care providers.
• $25 billion for a national COVID-19 and antibody testing strategy.

In his testimony to the Small Business Committee, Crow said "Oversight of important loan and grant programs is one of the most important roles of this committee. We have all been very concerned about recent reports of larger, publicly-traded companies using programs intended for our nation's small businesses. I look forward to working with all the members of this committee to address any misuse of these relief programs and ensure that transparency and accountability are hallmarks of our nation's response to this crisis and Congress' actions going forward."

Yesterday, Crow introduced the bipartisan Public Health Workforce Loan Repayment Act to establish the Public Health Workforce Loan Repayment Program to promote the recruitment of public health professionals at local, state, and tribal public health agencies. He also penned an op-ed with Mike Coffman, the mayor of Aurora, on the need for more state and local funding in the bill.

In March, Crow introduced the Frontline Health Care Workers Assistance Act which would require President Trump to use the powers of the Defense Production Act to direct the procurement of urgently personal protective equipment and test kits.