Trumps signs COVID-19 relief bill

Residents will soon see monetary relief from COVID-19.

President Donald Trump signed the CARES Act — also known as the Coronavirus Aid, Relief and Economic Security Act — recently. The $2.2 trillion package was unanimously passed by the U.S. Senate last week and by the U.S House on Friday.

The American people have always stepped up to the plate in times of need, U.S. Rep. Roger Williams, R-Austin, said Friday afternoon.

"Our job in Congress is to provide the reinforcements necessary to move forward, and I am proud that by passing the CARES Act, we have delivered," Williams said. "My top priorities have been providing direct assistance to our Texan families desperately in need of relief and those unexpectedly out of work due to this unprecedented pandemic.

"I've also been working to provide critical resources for health care providers on the front lines working around the clock to protect our families and heal our communities, and ensuring our Main Street businesses can begin the road to recovery while maintaining maximal employment.

"Though much of our daily life has been interrupted for the time being, we will keep working together and looking for opportunities where we can strengthen our economy. I have full faith that the American spirit will carry us through this crisis."

He said the package was bipartisan and will help the economy get back on track.

"I think the economy will come back and come back stronger than before," he said. "I think this shows the American spirit. In World War II, the people stepped up to defeat the enemy. You see companies stepping up to make products for people in need now.

"That's what makes America the greatest country in the world. We need to get the world back on track again."

Package makeup

For small businesses, the package creates a new $350 billion small business loan program to provide working capital and allows for some loan forgiveness if they maintain payroll.

It will also increase Small Business Administration loan amounts, payroll taxes for employers are delayed for two years and allows for net operating losses from 2018-20 to be counted toward future tax liabilities to increase cash flow.

In health care, it expands tele-health service to rural areas, including $200 million for services and devices in a separate fund from the existing Rural Health Care Program, $1.32 billion is allocated for Community Health Centers and $16 billion is allocated for ventilators and personal protective equipment for health care providers.

For the economy, it provides cash payments to American families for rent, utility and other necessary payments, strengthens unemployment benefits for those who lost their jobs at no fault of their own and $500 billion is allocated to ensure critical industries that have been shut down can survive the crisis.