Supports small businesses, hospitals, and increased testing

U.S. SENATE – U.S. Senator Martha McSally (R-AZ) issued the following statement Tuesday after the Senate voted to provide an additional $484 billion dollars in relief to support small businesses, hospitals, and increased testing in Arizona. The package now heads to the U.S. House of Representatives for consideration.  

This package will give an additional $321 billion dollars to the Paycheck Protection Program (PPP), including $60 billion reserved for lending by small-and medium-sized financial institutions. It will provide roughly $75 billion to hospitals and health care providers and $25 billion for state-led testing including at least $11 billion to be used by states and local governments to scale up testing by public health and epidemic laboratories like the one at the University of Arizona. Additionally, it adds $60 billion to the Economic Injury Disaster Loan (EIDL) Program that includes a $10 billion increase the EIDL advance, which does not need to be paid back.

“This latest coronavirus relief package delivers aid where it’s needed most,” McSally said. “It will replenish the Payment Protection Program, which has already saved millions of American jobs across the country, and is needed to support our mom and pop shops and self-employed entities. With these additional funds, I urge banks to give precedence to true small businesses when lending funding. Our mom and pop shops, self-employed entities, and our smaller businesses—not the massive corporations with access to capital—should be the priority for these funds. I have continuously advocated for these small businesses and will keep doing so to ensure they can open their doors on the other side of this pandemic. I also fought for our Arizona farmers to be included in the EIDL program and am pleased to say now, they will be.

“This package also provides aid I advocated for to scale up testing at laboratories like the University of Arizona’s where they’ve developed innovative antibody testing. In addition, there is increased funding I supported for our health care heroes and rural hospitals doing everything they can to support our communities. As we look to reopen the economy, I’ll continue working to protect the health of all Arizonans.”

Background:

  • Earlier today, Sen. McSally called for funds to focus on small businesses, after reports of publicly traded companies with access to capital and bank relationships receiving money quickly while many mom and pop shops have struggled to access PPP funding.
  • On April 17, Sen. McSally sent a letter requesting that the Small Business Administration (SBA) issue updated guidance to allow farmers to apply for Economic Injury Disaster Loans (EIDL).
  • On April 16, Sen. McSally spoke to President Trump about providing federal funding for the  University of Arizona’s antibody testing during the first meeting of the president’s economic recovery task force.
  • On April 8, Sen. McSally called for the immediate passage of additional funding for the Paycheck Protection Program.