Senator Loeffler on Fox Business: We Must Empower Job Creators in Wake of Coronavirus Impact
Loeffler Urges Swift Action to Provide Stability to Employers
WASHINGTON, D.C. – U.S. Senator Kelly Loeffler (R-Ga.) joined Fox Business’s “Making Money with Charles Payne” to discuss the ongoing coronavirus (COVID-19) public health emergency and its impact on our economy.
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Highlights:
SENATE ACTION ON CORONAVIRUS: “We understand the urgency of getting relief out – not just to American companies but American workers.”
“Certainly there are a couple of things we’re looking at here. We now passed the first bill, which was $8.3 billion in funding to get health care services up and running that we need to address this virus. The second bill, which was passed by the House and amended, there are some concerns with the manner in which we approach some of the mandatory paid leave. Making sure that it doesn’t have adverse incentives for companies to lay off workers.”
“We want to make sure this bill is aimed at achieving what we want to, which is stability for employees and help for small businesses and employers. So if there is a third bill, I think we’ve got to keep that focus right there, which is on business and individuals.”
EMPOWERING BUSINESSES: “[This bill] needs to be to empower businesses, to empower workers to have the confidence to keep their doors open, and keep serving the public. This is an unprecedented time. I really commend of work of Secretary Mnuchin. He has done a fabulous job of keeping this together and moving it forward. And we completely understand the urgency.”
WORKING WITH THE WHITE HOUSE: “The president is a business person. He understands what it takes to capitalize and cash flow a business, and this is what we’re looking at right now. Companies of all sizes have revenues that are drying up. We need to address that to protect the American worker, and I think that assistance is needed right now. We’re in a position to do it, and we’re not going to leave until we get that done.”
ON WHAT’S NEXT: “There is a lot of work to be done. It is day-to-day here. Things are changing so fast, not just on the health front, which we have to stay focused fighting the virus, but economic health. I asked a question during the meeting about the health of our banking sector. I want to make sure the lifeblood of our country, the capital flowing through it stays healthy. Secretary Mnuchin said we’re in a very good place with the banks, and we need to keep supporting American business and the American worker.”
SHORING UP MARKETS: “I was a big advocate making sure we shore up the commercial paper market. I think the fed’s actions around that announced today have been tremendously helpful in creating confidence by companies, by corporates, that they’re going to have access to the important window. I think things like the discount window. I understand eight banks tapped the discount window today. I hope more banks do that, get lending going to small businesses.”