Source: PRESS RELEASE, 3/25/20

Today, Senator Thom Tillis (R-NC) supported passage of the Phase III emergency relief package that will provide direct checks to hardworking North Carolinians and assistance to small businesses affected by the coronavirus pandemic, including direct checks to many North Carolinians beginning as soon as next month.

Below are videos of Senator Tillis discussing the legislation. Media outlets are free to use this content. Watch the full video HERE<https://youtu.be/riWfwPCs0X8> and download the raw video file HERE<https://lfts.senate.gov/seos/1000/mpd/ui10042020746bb2babba6ce18470b6bb5c90f86cb>.



Tillis on the Phase III Bill<https://www.youtube.com/watch?v=riWfwPCs0X8&feature=youtu.be>:
“The bill I supported 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 the virus.”

Tillis on next steps<https://youtu.be/riWfwPCs0X8?t=37>:

“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 health care facilities and federal, state, and local 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.”

Tillis on small business assistance:<https://youtu.be/riWfwPCs0X8?t=83>
“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.”

Tillis on what Americans can do to help<https://youtu.be/riWfwPCs0X8?t=113>:
“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 health care 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 health care facilities in North Carolina are prepared to tend to those patients.”

Specific provisions included in the legislation include:


=       Households: $500 Billion

o   $1,200 in direct payments (additional $500 per child) for those with incomes up to $75,000; phased out for those with incomes above $99,000.

o   Expand unemployment benefits to 39 weeks and include an additional $600 per week in unemployment benefits for four months.

=       Small Businesses: $367 Billion

o   Small Business Lending/Grants: $350 billion

o   Community Lending: $17 billion

=       Corporate Lending Facility: $500 Billion

o   $500 billion fund ($425 billion for loans to the Fed and $75 billion for industry loans) and will include oversight from an inspector general and a congressionally appointed 5-person panel. Companies that receive government aid must agree to halt stock buybacks for the entire time they receive the aid, plus one year. Restrictions on employment cuts.

=       Healthcare Response: $150 Billion

o   $100B in direct payments to Hospitals & Healthcare Providers to ensure healthcare providers continue to receive the support they need for COVID-19 related expenses and lost revenue

o   Expands Medicare accelerated payment program to allow hospitals (esp. rural hospitals) to request up to 6 month advanced lump sum payment (up to 100% of prior period payments – Critical Access Hospitals (CAH) can receive up to 125%. Hospital would not be required to start paying down loan for four months, and have at least 12 months to complete repayment without incurring interest.

o   Delays DSH cuts (reimbursement rate to Disproportionate Share Hospitals) through November 30, 2020. Cuts were currently scheduled to take effect May 22, 2020.

o   Temporary Repeal of Medicare Sequestration: For services rendered May 1 – December 31, 2020, Medicare Sequestration is lifted, resulting in 2% increase for ALL Medicare reimbursements.

=       Aid to State & Local Governments: $150 Billion