Senator Tillis Discusses Phase III of the Economic Stimulus Relief Package

The bill we passed out today will provide
every individual in North Carolina who reported taxes in 2018, 2019, or revenue through social
security, will be eligible for a one time check in the amount of $1,200 per adult, $500
per child, subject to certain limits at the upper scale of the income. So after $75,000
up to $100,000, the payment will be reduced, but you will get some economic support. The
whole idea of this one-time payment is to help people bridge the gap while we fight
to the virus. I think the first thing we have to do is look at what’s happened with each
of the three phases that we have passed. The $8 billion that went to healthcare facilities
and federal, state-level governments, the bill we passed to provide some certainty for
paid family leave, and some certainty for individuals, and now this bill which, actually
pushes nearly $2 trillion dollars into the American economy. We need to take a look at
how this is working, and also keep track at how well we are fighting the virus,  and
then be prepared to do as many other phases as we need to, hopefully, none, but we have
to be prepared to respond as we learn more about the virus and the economy’s reaction
to this latest bill. For small businesses, we are going to be able to provide loans that are completely forgivable if you use that loan to pay your employees. So every dollar
that you pay someone’s salary, you can actually claim and you would be forgiven and not have
to pay that part of the loan back. If you use a portion of the loan for other operations
or other things you may be doing for the business, then it would be a low-interest loan that
would have a payback period that would be negotiated between you and your lender. I think we all have to maintain a sense of calm, we all are responsible for trying to reduce the spread of the virus. The best way you can do that is to stay at home if you can.
Do not find yourself in unfamiliar settings, don’t even go visit family members. Give
them a call. Talk to them and encourage them to practice safe behaviors so that we can
reduce this spread. The sooner we flatten the curve, the sooner healthcare facilities
will be available for those who are going to have complications. The vast majority of
us will not. The vast majority of us will heal just by staying at home and tending this
virus the way you do the common cold or flu. Some will have serious conditions and we have
to do everything we can to make sure that the healthcare facilities in North Carolina
are prepared to tend to those patients.

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