Jerry Nadler: “In the last few weeks, my office has been flooded with calls from small business owners desperate for assistance but…”

“In the last few weeks, my office has been flooded with calls from small business owners desperate for assistance but stymied by the slow response, unfair treatment, and limited funds of the small business programs set up by the CARES Act. I support this legislation because it is absolutely imperative that we recapitalize and improve PPP and EIDL to get small businesses the resources and support they need as fairly and efficiently as possible. I am also pleased this bill provides significant funding for hospitals and expanded testing, without which we cannot safely re-open the small businesses and other establishments we are trying to save. I am, however, all too aware that this infusion of money simply will not be enough to meet demand, and many of the problems my constituents have raised with PPP and EIDL are not addressed by this legislation. I am disappointed that, despite the best efforts of my Democratic colleagues, this bill does not give state and local governments the funding and flexibility they desperately need to support their fights against COVID-19 and fill the massive revenue gaps they are facing. New York State faces a $10 billion loss of tax revenue. While we are the epicenter of the pandemic, we're not alone in our budget shortfalls. Oklahoma faces a $415 million gap, Arizona is looking at a $1.1 billion deficit, and Maryland could face a $2.2 billion shortfall.…”