Senator Bill Cassidy (R) - Louisiana
Congress and the President are discussing a massive series of potential bailouts and financial aid packages to counter the economic devastation being caused by COVID-19.
A growing number of lawmakers and the President are backing a plan to send every American a check in the next few weeks. Senator Bill Cassidy says that is one of the plans rapidly gaining support.
“The other will be allowing postponement of your April 15th payment of taxes, and give Small Business Administration very low-interest loans so that businesses can get through this rough patch,” said Cassidy.
Lawmakers are discussing sending Americans a one-thousand dollar check.
The clock is ticking on due payments for a growing number of workers who have been laid off by businesses who’ve had to shut their doors. Cassidy is confident this aid will be in people’s hands soon.
“Everything is being done to make sure that whatever is done is able to be executive quickly so that whoever benefits gets the benefits gets the benefits soon enough to save their business, soon enough to pay their mortgage, car note, etcetera,” said Cassidy.
The price tag for this economic intervention is huge, likely over 800 billion dollars, but Cassidy says it must be done and can be done responsibly.
“The cost of borrowing has never been lower, but the cost of the economy going into the tank has never been higher,” said Cassidy.
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