How Tuesday’s Coronavirus stimulus will affect local business

CHATTANOOGA, Tenn. (WDEF) — In response to the increasing economic uncertainties, President Donald Trump and Congress have been working together to pass emergency legislation. The most recent bill attempts to alleviate work pressures and testing troubles.

“We are in uncharted waters, but we are rowing in the right direction,” Rep. Chuck Fleischmann (R, Tenn) said.

Wednesday night, President Trump signed into effect a second coronavirus stimulus package, as the economic landscape continues to deteriorate. The law includes a guaranteed two weeks of paid sick leave for qualified workers and fund reimbursement for those paying companies.

Qualified workers include those who are employed by a company with less than 500 workers. The law protects up to two weeks of paid sick leave for those who are sick, quarantined or assisting those affected by the Coronavirus. It also allows for 12 weeks of paid leave for people who have to take care of children due to school and daycare closures.

The New York Times details all qualified workers and answers main questions in this helpful guide.

“What these bills are designed to do is get help, not only to the workers, which is very important and it will do that, but also make sure that we preserve these industries,” Fleischmann said.

“One of the most important things we’ll see locally is the small business administration will have funding available for the loans that will be able to go out to local companies,” said Charles Wood, vice president of economic development for the Chattanooga Chamber of Commerce. “It’s going to create an opportunity for loan funding that will get them through a period of time where they don’t have a revenue stream.”

The Chamber is hosting webinars explaining what every federal and local measure means to local businesses on their YouTube channel each day. The Chamber is also encouraging people with questions to go to their newly re-purposed and COVID-19 response-focused website.

Another focal point of the Families First Coronavirus Response Act is free testing for every American.

“It’s very important that regardless of income, regardless of insurance, we need to get people tested,” Fleischmann said. “Obviously, for their own benefit. But also, we want to make sure that if someone tests positive that they self quarantine and take necessary measures that they don’t infect other people.”

The Hamilton County Health Department sent the following statement regarding the free testing:

“We are working to develop plans for a community testing site. The availability of supplies will likely limit the number of tests initially. We will update the community when a testing site will be open.”

The act passed the Senate with a 90 to 8 vote. Tennessee Senator Marsha Blackburn was one of the few that voted ‘no’. She said in a statement:

“Tennessee workers and small business owners do not want unfunded federal mandates placed on them while they are struggling to keep their doors open and meet payroll. They have told me they desperately need our support for flexibility to create solutions that work for their employees. At a time when revenue has decreased for many, it is irresponsible to implement a one-size-fits-all government mandate requiring employers to provide paid sick leave. Our Tennessee hospitals and our TennCare program have serious concerns with the Medicaid provisions and we are continuing to work with them to meet the needs in our communities. I look forward to working to pass legislation that will properly address these concerns.”

You can read and download the full version of the Families First Coronavirus Response Act below:

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