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U.S. Chamber Praises $2 Trillion Economic Relief Package, Shifts Focus To Helping Businesses Secure Necessary Funds

Date 27/03/2020

U.S. Chamber of Commerce CEO Thomas J. Donohue today applauded Congress and the administration for their responsive actions to help businesses stay open and pay their employees and reduce the potential of future layoffs. 

“Today, our elected representatives came together in a powerful way to provide the much needed relief that American workers and businesses need and deserve during this unprecedented time. We applaud Congress and the administration for working together to enact the CARES Act on a strong, bipartisan basis. Securing these funds could make the difference between keeping a business up and running over the coming weeks or being forced to reduce salaries, lay off employees, or shutter businesses entirely. No family and no business should go bankrupt because of the financial hardships caused by the coronavirus.

“The U.S. Chamber of Commerce and our network of state and local chambers of commerce are now turning our focus to helping businesses of all sizes keep workers on their payrolls by securing available funds as quickly as possible. Specifically, we are focused on helping small businesses take the necessary steps to receive aid once lending facilities have been designated, and we are working to ensure that the Treasury and Federal Reserve act swiftly to create a robust lending facility to support loans to midsize and larger businesses with minimal regulatory red tape. 

“In the days, weeks, or months to come—however long it takes—we will work tirelessly with our partners in the public and private sector to stabilize the economy, restore commerce, rebuild supply chains, and eventually reinvigorate growth. Again and again, America has proven its resiliency, and we are confident that we can and will weather this storm together.“

The U.S. Chamber of Commerce is committed to helping American businesses respond to the coronavirus so they can support their employees, customers, and communities. Our members and the state and local chambers, who are on the front lines of this pandemic, need us now more than ever to help them through this significant disruption. We will continue working every day to help our country’s people, businesses, and economy weather this storm and emerge stronger—just as we have at other challenging times in our nation’s history. Visit uschamber.com/coronavirus for more information.