SBA loans, unemployment insurance, and stimulus checks are the backbone of the federal economic response to coronavirus but Congress has been pushing to address less talked about areas as well.
US Senator Bill Cassidy of Louisiana says the latest round of federal stimulus sent tens of billions of dollars to hospitals. He says financially many are in a bad place right now.
“All of their elective cases are cancelled, they tend to lose cases if they are filled with ICU patients with COVID, and not to speak of all of the doctors and nurses and medtechs etcetera employed at say an ambulatory surgical center,” says Cassidy.
Cassidy says the feds are looking into intervening in the oil sector. He says it’s been frustrating to see America’s ally Saudi Arabia participate in price war that is crippling American oil.
“Why should I have somebody from Louisiana defending you from enemies when you are undermining the economy upon which someone from Louisiana’s family depends?” asked Cassidy.
The Senator pointed out a recent agreement by Russia and OPEC to cut oil production to help lift oil prices.
He is hoping that the next bill can also include money for cities, parishes and states to replenish dwindling coffers that are empty from huge drops in tax collections and other revenues. The senator hopes to avoid massive government layoffs and cuts to services.
Cassidy says the upcoming Phase One reopenings will be highly dependent on heavy testing and contact tracing. He says part of that is financially assisting those who are ordered to quarantine.
“It is what the South Koreans and Germans have begun to do. Those are the two democracies that have decreased the incidents of disease while they also are reopening the economy,” says Cassidy.
