Updated: Statements on the CARES Act & DC Funding
MARCH 27, 2020
Congress Must Ensure Adequate Economic Relief Funding for Washington, D.C., says Greater Washington Board of Trade
The $2 trillion funding bill is a life raft for a national economy in peril, but much remains to be done—especially a fair and adequate funding measure for Washington, D.C.
WASHINGTON, D.C.—The historic $2 trillion economic relief bill passed in the Senate early Thursday morning is expected to pass the House and be swiftly signed into law by the President. This legislation is a strong demonstration of Congress’s willingness to meet the extreme economic and business impacts resulting from the COVID-19 pandemic.
Unfortunately, the bill does not provide adequate or appropriate funding for Washington, D.C. The Greater Washington Board of Trade, the Washington region’s oldest business organization, calls on Congress to ensure the District of Columbia has the resources needed to address growing economic and business challenges.
Following is a statement from Jack McDougle, President and CEO of the Greater Washington Board of Trade:
“We applaud members of Congress for taking bold, swift action to address the economic fallout from COVID-19. Yet, we were very concerned to learn the bill applied the wrong funding formula to Washington, D.C., shorting the nation’s capital by a staggering $725 million. This mistake doesn’t just jeopardize Federal government operations, it jeopardizes a vibrant community of entrepreneurs, restaurants, artists, families, hospitals, businesses of all sizes, workers, nonprofits, and so much more. This can’t stand and Congress must resolve to provide D.C. with the means to alleviate current hardships and accelerate its economic comeback.”
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MARCH 26, 2020
Senate Bill Gives Communities and Businesses a Fighting Chance, says Greater Washington Board of Trade
A massive Federal government investment will keep households and businesses afloat while state and local leaders do what they must to contain the virus.
WASHINGTON, D.C.—The historic $2 trillion economic relief bill passed in the Senate today is a critical step and we call on Congress and the President to push this legislation into law, says the Greater Washington Board of Trade, the D.C. area’s oldest business organization.
Following is a statement from Jack McDougle, President and CEO of the Greater Washington Board of Trade:
“Our country and region suffer from the double whammy of a health pandemic and a near economic shut down. We applaud the Senate for working together to get this bill passed and now the House must do the same so the President can sign it into law. We recognize the importance of efforts to contain the virus to protect public health, but we must respond to immediate economic hardships and begin preparing for economic recovery.
The Senate bill begins the healing process by providing much needed relief to businesses and workers, which are the lifeblood of our communities. Our region’s state and local leaders are doing all they can—now Congress and the administration must pass this law and continue working together to keep American households and businesses afloat.”
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About the Greater Washington Board of Trade
The Greater Washington Board of Trade is a nonpartisan business organization and has represented all industry sectors in the District of Columbia, suburban Maryland, and Northern Virginia since 1889. The Board of Trade works collaboratively to advance polices, practices, and actions that benefit its members and improve the business environment and quality of life across the region. Learn more at www.bot.org.
Press Contact
Lindsey Longendyke
980-322-9904
[email protected]
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