SHE
SHE WAS
SHE WAS FIGHTING FLULIKE SYMPTOMS AND HAD A FEVER.
CONGRESSWOMAN GOT A TEST FOR
THE CORONAVIRUS UNFORTUNATELY,
IT WAS NEGATIVE.
SHE IS STILL WORKING FROM HOME.
>>> STIMULUS CHECKS WILL NOT
SHOW UP IN YOUR MAILBOX FOR
ANOTHER COUPLE OF WEEKS,
PROBABLY.
PROBABLY.
PROBABLY. BUT THIS WEEKEND, SMALL
BUSINESSES HAVE BEGUN APPLYING
FOR MONEY TO HELP THEM PAY
SALARIES.
SALARIES.
SALARIES. THE PROBLEM IS, IT IS FIRST
COME FIRST SERVE, AND ALREADY,
LAWMAKERS SUGGEST MORE
LEGISLATION MIGHT BE NEEDED.
POTENTIALLY ANOTHER STIMULUS.
CONGRESSMAN COLIN GROW, COLIN
ALLRED IS A FIRST GUEST THIS
MORNING.
MORNING.
MORNING. THE DALLAS DEMOCRAT IS ON SKYPE
WITH US FROM HIS HOME.
CONGRESSMAN, GOOD MORNING TO
YOU.
YOU.
YOU. >>
YOU. >> THE MORNING, JASON.
>> NEEDS SPEAKER NANCY PELOSI
SAID THERE IS LIKELY NEED FOR
ANOTHER STIMULUS PACKAGE.
WHO WOULD THAT WOULD BENEFIT?
>> WE HAVE A FEW HOLES WE HAVE
TO FILL.
TO FILL.
TO FILL. FIRST OF ALL, WE ARE GOING TO
HAVE TO PROBABLY DO ANOTHER
ROUND OF DIRECT PAYMENTS TO
INDIVIDUALS.
INDIVIDUALS. WE HAVE ALREADY HEARD THAT
SMALL BUSINESSES ARE HAVING A
HARD TIME GETTING ACCESS TO THE
FUNDS WE HAVE MADE AVAILABLE,
SO CAN WE WILL HAVE TO DO
SOMETHING THERE.
SOMETHING THERE. WE WILL ALSO HAVE TO SUPPORT
OUR CITIES AND COUNTIES AND
MUNICIPALITIES.
MUNICIPALITIES. THEY ARE TAKING ON ENORMOUS
COST RIGHT NOW.
WE HAD A LOT OF MONEY IN THE
LAST PACKAGE FOR THAT.
BUT FOR TOWNS THAT ARE UNDER
500,000 PEOPLE, WHICH I HAVE
SEVERAL OF THOSE IN MY
DISTRICT, YOU ARE NOT GETTING
THE DIRECT SUPPORT COMING TO
THE STATE FIRST.
WE WANT TO TRY TO TAKE CARE OF
THAT AS WELL.
>> CONGRESSMAN, HAS YOU MIGHT
SOMETHING BE UNDER
CONSIDERATION?
CONSIDERATION? >> I THINK WE ARE TALKING ABOUT
RIGHT NOW.
RIGHT NOW. WE HAVE HAD CONVERSATIONS THIS
WEEK.
WEEK.
WEEK. HAVE BEEN ON CONFERENCE CALLS
ALL DAY LONG WITH OUR CAUCUS
TALKING ABOUT THE VARIOUS
OPTIONS AND WHAT THEY WILL BE.
THIS IS WHAT WE CONSIDER TO BE
THE MITIGATION PHASE OF THIS,
WHERE WE ARE TRYING TO GET
THROUGH THE IMMEDIATE CRISIS
THAT WE HAVE.
AND THEN, WE WILL MOVE INTO THE
RECOVERY PHASE, WHICH YOU HAVE
ACTUALLY I THINK IN THE
PRESIDENT HAS TALKED ABOUT IT
AS WELL WHICH IS POTENTIALLY
DOING SOMETHING ON
INFRASTRUCTURE, TRYING TO
RECOVER AS WE COME OUT OF THIS
AND WILL LIKELY BE IN A
WORLDWIDE RECESSION.
WORLDWIDE RECESSION. >> LET'S TALK ABOUT THE FIRST
STIMULUS OUT THERE NOW.
IT IS CALLED THE CARES ACT.
DO YOU THINK THIS WILL BE
ENOUGH TO KEEP SMALL BUSINESSES
AFLOAT FOR THE NEXT 2-3 MONTHS?
>> THE INTENTION IS TO CREATE
THE PAYCHECK DETECTION PROGRAM,
WHICH HUNDREDS OF BILLIONS OF
DOLLARS THAT WE PUT INTO THIS
PROGRAM TO ALLOW SMALL
BUSINESSES TO KEEP FOLKS
EMPLOYED.
EMPLOYED.
EMPLOYED. TO KEEP THEM ON THE BOOKS.
AND IF THEY HAVE ALREADY LAID
OFF THOSE FOLKS, THEY CAN BRING
THEM BACK AND THEY COULD GET
ACCESS TO THIS LOAN AND HAVE
THAT LOAN FORGIVEN.
THE IDEA HERE IS TO KEEP PEOPLE
PAID THROUGH THIS IMMEDIATE
CRISIS.
CRISIS.
CRISIS. BUT, IF THE MONEY IS NOT
GETTING OUT THERE, OR IF THE
ADMINISTRATION OF THE PROCESS
IS TOO CLUNKY, THEN WE
UNDERSTAND, THAT IS GOING TO
GET IN THE WAY.
SO, THAT IS WHAT I AM WATCHING
TO SEE.
TO SEE.
TO SEE. WE HAVE DONE SEVERAL ZOOM
MEETINGS WITH THE LOCAL
CHAMBERS OF COMMERCE TO TRY TO
TALK ABOUT HOW THIS IS WORKING,
AND SENT OUT SURVEYS TO OUR
SMALL BUSINESSES IN THE
DISTRICT, ASKING THEM HOW THIS
IS WORKING FOR YOU.
SO, WE NEED TO GET THAT BACK AS
WELL SO WE CAN PLUG IT INTO THE
NEXT BILL AND GET MORE DONE.
>> PART OF THE PAYCHECK LOAN
PAYCHECK LOAN PROTECTION
PROGRAM, YOU GUYS MADE IT
AVAILABLE TO BANKS OR YOU COULD
EXPEDITE THIS AND GET THE MONEY
IMMEDIATELY AVAILABLE.
IMMEDIATELY AVAILABLE. BANK OF AMERICA THE SECOND
LARGEST BANK WAS THE FIRST ONE
TO PHYSICALLY GET THIS GOING.
WE ARE ALREADY HEARING FROM ALL
KINDS OF CUSTOMERS WHO SAY, I
AM A SMALL BUSINESS, I DON'T
HAVE ANY DEBT.
AND BECAUSE OF THAT, I CANNOT
APPLY FOR THIS.
APPARENTLY BANK OF AMERICA IS
TELLING US THAT THEIR ONLY
PROCESSING LOANS FOR STIMULUS
IF YOU HAVE A PREVIOUS LOAN
FROM THEM.
FROM THEM. SO, YOU HAVE TO HAVE THAT IN
ORDER TO QUALIFY FOR A LOAN.
IS THAT THE INTENTION OF WHAT
YOU GUYS WROTE IN THE BILL?
>> NO.
>> NO.
>> NO. IT
>> NO. IT IS ACTUALLY NOT.
WE ARE TRYING TO GET EVERY
SMALL BUSINESS.
SMALL BUSINESS. THE MOM-AND-POP SHOPS THAT ARE
OUT THERE, THE SELF-EMPLOYED
EVEN THAT ARE OUT THERE.
AND SOME OF THESE FOLKS HAVE NOT
, AS YOU MENTIONED, HAVE NOT
ACCESSED CREDIT BEFORE OR
NEEDED TO DO THAT.
SO, THIS IS THEIR FIRST TIME
HAVING TO GO THROUGH THIS
PROCESS.
PROCESS.
PROCESS. BUT WE ARE ACTUALLY HERE TO
HELP.
HELP.
HELP. IF
HELP. IF YOU'RE A SMALL BUSINESS
OWNER OR IF YOU ARE SELF-
EMPLOYED AND YOU WANT TO GET
ACCESS TO ONE OF THESE LOANS,
YOU CAN GIVE US A CALL.
GO TO MY WEBSITE.
ALL RED.HOUSE.GOVéCOVID-19
ALL RED.HOUSE.GOVéCOVID-19 SMALL BUSINESS.
SMALL BUSINESS. WE HAVE A GUIDE THERE THAT YOU
CAN DOWNLOAD THAT WILL WALK YOU
THROUGH THE STEPS.
YOU CAN ALSO GIVE US A CALL AND
WE WILL CONNECT YOU TO SMALL
BUSINESS ADMINISTRATION.
BUSINESS ADMINISTRATION. BUT TO THE LENDERS OUT THERE,
WE ARE GOING TO HAVE TO OVERSEE
WHAT THEY ARE DOING AND MAKE
SURE IT IS NOT JUST THE MOST
SOPHISTICATED FOLKS WHO ARE
GETTING ACCESS TO THIS FUNDING.
BECAUSE THOSE ARE ALSO FOLKS
THAT PROBABLY WILL BE ABLE TO
HANDLE THE CRISIS THE BEST.
WE NEED THIS YET THIS OUT THERE
TO FOLKS WHO ARE EMPLOYING
PEOPLE AND GET IT OUT THERE AS
SOON AS WE POSSIBLY CAN.
>> TO REITERATE, CONGRESSMAN,
IS THERE A MESSAGE YOU HAVE A
BANK OF AMERICA, OR ANYONE ELSE
WHO MIGHT PRIORITIZE SOME OF
THE SMALL BUSINESSES OVER
OTHERS?
OTHERS?
OTHERS? >> I UNDERSTAND THAT THEY HAVE
BUSINESS RELATIONSHIPS.
BUSINESS RELATIONSHIPS. BUT THAT SHOULD NOT BE THE
NUMBER 1 CRITERIA HERE.
THERE IS ENOUGH MONEY AVAILABLE
THAT AS LONG AS THEY HAVE
CAPACITY TO TAKE LOANS AND TO
TAKE APPLICATIONS, THEY SHOULD
BE ISSUING THOSE LOANS AS
QUICKLY AS POSSIBLE.
THESE ARE 100% FEDERALLY BACKED
LOANS.
LOANS.
LOANS. THEY ARE IN NO DANGER OF LOSING
ANY MONEY AT THE BANK.
AND WE HAVE TO GET THIS MONEY
OUT THERE TO MAKE SURE WE KEEP
PEOPLE EMPLOYED.
PEOPLE EMPLOYED. OTHERWISE, WE ARE GOING TO SEE
HUGE SPIKES, AS WE ALREADY HAVE
OF COURSE, IN UNEMPLOYMENT AND
RELIANCE ON OTHER GOVERNMENT
PROGRAMS.
PROGRAMS.
PROGRAMS. AND WE ARE TRYING TO KEEP FOLKS
EMPLOYED SO THAT WHEN WE
RESTART THE ECONOMY, THEY CAN
GET RIGHT BACK TO WORK AND WE
WON'T HAVE AS LONG OF A PERIOD
OF RAPID BACKUP.
>> CONGRESSMAN, YOU HAVE HELD
THREE TOWN HALL SO FAR.
WHAT IS THE BIGGEST QUESTION
YOUR CONSTITUENTS HAVE FOR YOU?
>> THE MOST RECENT ONE, WE HAD
OVER 8000 FOLKS JOIN OUR
TELEPHONE TOWN HALL.
WE GOT A LOT OF QUESTIONS ABOUT
THE UNAPPOINTED PROCESS.
YOU HAVE SEEN OVER 6 MILLION
APPLICATIONS IN TEXAS HAVING A
HUGE SPIKE.
HUGE SPIKE. THE TEXAS WORKFORCE COMMISSION
HAS BEEN OVERLOADED.
AND FOLKS ARE NOT ABLE TO GET
THROUGH.
THROUGH.
THROUGH. AND WE HAVE BEEN TOLD BY THE
TEXAS WORKFORCE COMMISSION TO
RECOMMEND THAT FOLKS CALL OR GO
TO THE WEBSITE EARLY IN THE
MORNING, OR LATER IN THE DAY,
WHEN THE TRAFFIC IS LOWER.
THAT IS REALLY AN UNACCEPTABLE
SCENARIO.
SCENARIO.
SCENARIO. AND ONE OF THE THINGS WE HAVE
DISCUSSED, MAKING SURE THAT WE
SUPPORT THE STATES THAT ARE
GOING TO BE ADMINISTERING OUR
UNEMPLOYMENT PROGRAM GOING
FORWARD.
FORWARD.
FORWARD. SO, UNEMPLOYMENT HAS BEEN A
HUGE PART OF THAT.
BUT THERE IS STILL A LOT OF
CONCERNS ABOUT THE ACTUAL VIRUS
ITSELF.
ITSELF.
ITSELF. WE ARE BATTLING MISINFORMATION.
WHAT IS HAPPENING, HOW SAFE IT
IS, WHETHER OR NOT IT IS REALLY
THE CRISIS THAT WE ALL KNOW