Bob Good on Passage of CARES Act | Bob Good for Congress

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March 27, 2020
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Bob Good on Passage of CARES Act

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Bob Good

I join millions of Americans in praying for those infected by the virus, those providing medical treatment, and President Trump and our other leaders who are tasked with the responsibility of making decisions that affect us all. I am thankful for the quick action by President Trump and others who are working tirelessly to address the crisis and provide urgently needed relief to those most in need. It is my hope that the massive stimulus bill that Congress has passed will effectively help mitigate the health crisis, and provide appropriate supports for the unprecedented economic situation. I have been very disappointed along with many others at the determination of the Democrats in Congress to insert unrelated and unneeded pet project spending into the legislation, even threatening to go so far as to hold the needed relief hostage to their selfish agenda.

While I am greatly concerned that the size of the $2 trillion bill is half the size of the annual federal budget for which there is already an expected large deficit, unfortunately the unprecedented shutdown of our economy has required unprecedented action. I am glad to see that we are working thru the existing state unemployment programs, rather than creating new agencies. I am glad to see that we are primarily providing loans to small businesses, instead of grants. However, I am concerned that only about 8% of the bill ($154 billion) is devoted to public health. I am concerned that the shotgun nature of the bill is providing cash payments to individuals regardless of whether their income has been affected, and that the amount of enhanced unemployment coverage will in many cases exceed the pre-crisis income of the recipients. I am concerned that the subsidies to large corporations ($500 billion) far exceeds that designated for small businesses ($377 billions, only $10 billion of which is in the form of grants). And, of course, I am greatly concerned that $26 billion of the bill is for other spending unrelated to the crisis.

That said, I think it is clear to most that quick and decisive action is needed, and so I join others in hoping that we are on the mend in terms of combating the Coronavirus and in righting the ship economically.

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