Information about the CARES Act and how to receive the benefits included in the legislation will be posted on this resource page. Please monitor this page for updates!
The CARES Act includes provisions for recovery rebates, which are direct payments to American citizens to assist with the economic damage caused by COVID-19. These rebates are expected to be delivered to Americans no later than three weeks from March 31, 2020. To learn more about how much you could receive, who is eligible, and other important details, please visit my recovery rebates resource page. This information is also available on the IRS' official website.
The IRS has delivered Economic Impact Payments to 80 millions so far. Recently, the IRS launched a 'Get My Payment' landing page for Americans to track the status of their Economic Impact Payment. If you are still waiting on your payment, please use this site as a resource.
Small Business Financial Assistance:
Small businesses, independent contractors, and self-employed individuals are eligible for financial assistance through the CARES Act. To learn about the programs and options available, as well as how to apply, please visit my CARES Act small business assistance resource page.
I have been working with local small businesses to inform them about the financial assistance available through the CARES Act. On April 3, I sent a letter to more than 800 small business owners in East Tennessee notifying them loan applications through the Paycheck Protection Program (PPP) are now available. I encourage East Tennessee small businesses to check directly with their financial institution to determine their eligibility for the PPP, when they can expect financial assistance through the PPP, and what other loans and financial products are available. Additionally, I welcome feedback from small business owners about how the application process for COVID-19 related assistance is working and how it can be improved. You can read my full letter to small business owners here.
On April 23, I voted for the Paycheck Protection Program and Health Care Enhancement Act. This legislation, which was signed into law by President Trump, approves an additional $310 billion for the Paycheck Protection Program and an additional $60 billion for Economic Injury Disaster Loans. These two programs are popular with small businesses, keeping folks employed and stopping small businesses from closing their doors.
COVID-19 has resulted in businesses temporarily closing their doors or suspending their operations, impacting the jobs and livelihoods of many working East Tennesseans. This has many folks worried about their next paycheck and providing for their families, and rightfully so. It is important everyone knows what financial support is available if they fall on hard times during this crisis.
The CARES Act includes assistance for folks who may be out of work due to the Coronavirus. I encourage East Tennesseans to visit my unemployment assistance page for guidance and additional information about available relief.
Please remain optimistic as our nation navigates the COVID-19 pandemic. Folks in our community take pride in their jobs and want to get back to work as soon as possible. I share these feelings with you and am looking forward to our economy reopening in the near future.