TO THE MEMBERS OF THE UNITED STATES SENATE:
The U.S. Chamber of Commerce strongly supports S. 3548, the “Coronavirus Aid, Relief, and Economic Security (CARES) Act,” and commends the cooperative and collaborative work of Senators to assemble legislation on a large enough scale to keep American families and businesses afloat through the maelstrom of the coronavirus pandemic. The Chamber will consider including votes related to this legislation in our “How They Voted” scorecard.
No family should go bankrupt, and no business should go bankrupt just because of the temporary disruption in income caused during the pandemic. The CARES Act is a big step towards averting catastrophic failure of the American economy and to ensure that paychecks continue to go out to private sector workers.
At its core, the CARES Act would help ensure that workers have jobs to return to when the pandemic has subsided.
Pausing the payment of payroll taxes would allow businesses to continue to pay their employees. Additional lending through the U.S. Small Business Administration (SBA) and grants for small businesses would enable this sector to forestall financial ruin. The economic stabilization funds also would enable middle market, larger businesses and firms critical to the national interest, such as airlines and air cargo carriers, to continue to function and pay their employees. These provisions would allow the business community to continue to pay employees and provide essential operations at a time when only limited revenue is coming in the door.
As each of you has indicated, the pandemic response is an evolving situation and policy responses similarly will have to evolve in the days and weeks ahead. We will continue to be a resource for you as Congress moves onto other legislative phases to protect Americans and the American economy.
Suzanne P. Clark
U.S. Chamber of Commerce