Statement from Los Angeles Area Chamber of Commerce President & CEO Maria S. Salinas in Response to the Passage of a Bipartisan $2 Trillion Stimulus Package by the House of Representatives and the White House
March 27, 2020 5:00 pm
LOS ANGELES, CA– March 27, 2020 - "I'd like to commend the White House, House Speaker Nancy Pelosi and Members of Congress who moved so quickly in a bipartisan effort to help the nation with the passage of the $2 trillion stimulus package," said Los Angeles Area Chamber President & CEO Maria S. Salinas. "This is a major achievement that will help American workers and businesses through this challenging time and pave a path to help our country get back on its feet.
With so many businesses hurting in our region, this $2 trillion package will provide cash payments up to $1,200 for individual Americans; $367 billion in low-cost loans to affected small businesses; expands unemployment insurance by $250 billion, while extending existing benefits by 13 weeks; and furnishes $500 billion to backstop loans for the hardest-hit industries. By signing this bill, the White House and Congress jumpstarted our economy to begin to move forward on a sorely needed fiscal rebound for the nation and our region.”
# # #
About the Los Angeles Area Chamber of Commerce
The Los Angeles Chamber is the region’s premier business organization representing the interests of a broad spectrum of organizations across the private, non-profit, academic and public sectors while advocating across local, state, federal and global levels. The Chamber’s mission is to design and advance opportunities and solutions for a thriving regional economy that is inclusive and globally competitive. Founded in 1888, the Chamber is the oldest and largest business association in Los Angeles County. It’s 1,500+ member companies work together with the Chamber to advance and support efforts that eliminate barriers and maximize opportunities for economic prosperity, creating a thriving region for all. For more information, visit www.lachamber.com