Young Secures Key Provisions in Next Coronavirus Relief Package, Including Parts of RESTART Act
WASHINGTON – U.S. Senator Todd Young (R-Ind.) secured several key provisions in the proposed coronavirus relief package released today by Senate Republicans, known as the Health, Economic Assistance, Liability Protection, and Schools (HEALS) Act. The proposal includes some principles from Senator Young’s RESTART Act, and his legislation to address unemployment insurance reform, child care, and telehealth. The HEALS Act also contains the TRUST Act, which Senator Young coauthored to help rein in the national debt and set in motion a bipartisan national plan to finally begin tackling the long-term drivers of our national debt once we get through the coronavirus pandemic.
“As we continue to confront the coronavirus pandemic, we must ensure our schools and employers can safely reopen and our health care providers have the resources they need to fight this virus. I’m pleased that the HEALS Act contains critical measures to protect jobs, schools, and health care – including several provisions I have been championing, such as unemployment insurance system reform, financial assistance to help child care providers reopen, and telehealth legislation that will lead to greater affordability and access,” said Senator Young.
“I’m also glad that the HEALS Act includes some concepts from my RESTART Act by recognizing the need for long-term working capital loans and targeting the relief toward businesses that have suffered significant revenue decline. However, I believe more of the RESTART Act must be included in order to truly assist the hardest-hit small- and mid-sized businesses that have fallen through the gaps of previous relief programs. I’ll continue working with my colleagues to improve upon this proposal and ensure we are caring for those who have suffered the most through no fault of their own,” Senator Young added.
The HEALS Act proposal includes principles from Senator Young’s RESTART Act in its small business recovery component, formally titled the Continuing Small Business Recovery and Paycheck Protection Program Act. However, this proposal does not go far enough in assisting many of the small and mid-sized businesses and non-profits that are important to our economy.
The RESTART Act would provide a partially forgivable loan to a wider range of businesses and non-profits with a revenue decline of 25 percent or greater. This assistance is critical to the more than 500,000 manufacturing employees in Indiana, the 200,000 Hoosier restaurant employees laid off or furloughed since March, the small music venues in Indiana that are facing permanent closure, and the countless restaurants, gyms, salons, hotels, retailers, and other small businesses that are important pillars of Indiana’s communities.
The RESTART Act, introduced by Senators Young and Michael Bennet (D-Colo.) in May, has gained the support of 39 additional bipartisan Senators, including Senators Lamar Alexander (R-Tenn.), Tammy Baldwin (D-Wisc.), Marsha Blackburn (R-Tenn.), Roy Blunt (R-Mo.), Cory Booker (D-N.J.), Richard Burr (R-N.C.), Shelley Moore Capito (R-W.Va.), John Cornyn (R-Texas), Catherine Cortez Masto (D-Nev.), Tom Cotton (R-Ark.), Kevin Cramer (R-N.D.), Steve Daines (R-Mont.), Tammy Duckworth (D-Ill.), Joni Ernst (R-Iowa), Dianne Feinstein (D-Calif.), Cory Gardner (R-Colo.), Kirsten Gillibrand (D-N.Y.), Lindsey Graham (R-S.C.), Martin Heinrich (D-N.M.), Cindy Hyde-Smith (R-Miss.), Tim Kaine (D-Va.), Angus King (I-Maine), Amy Klobuchar (D-Minn.), Jeff Merkley (D-Ore.), Lisa Murkowski (R-Alaska), Gary Peters (D-Mich.), Jack Reed (D-R.I.), Pat Roberts (R-Kan.), Mitt Romney (R-Utah), Jacky Rosen (D-Nev.), Brian Schatz (D-Hawaii), Tina Smith (D-Minn.), Debbie Stabenow (D-Mich.), Dan Sullivan (R-Alaska), Jon Tester (D-Mont.), Thom Tillis (R-N.C.), Sheldon Whitehouse (D-R.I.), and Roger Wicker (R-Miss.).
Additionally, the bipartisan legislation is supported by nearly 40 national organizations and more than 50 Indiana businesses. View a full list of supporters HERE.
To view a one-pager on the RESTART Act, click HERE.