The governors of new mexico, kansas and guam as well as douglas holtzeakin, former director of the Congressional Budget Office. This virtual hearing is just over four hours. The committee will come to order. Authorized to declare recess of the committee at any time. Before we begin todays hearing, i want to remind you of a few matters including some regulation accompanying House Resolution 965. I would ask all members to keep themselves on me was. This will minimize disturbances not being recognized with background noise they made only again one at a time. If you are participating today please remain with us during the hearing t that she recommends vendors identify themselves and facilitate the chairs recognition. I would also ask members to be patient this hearing is entitled the need for Financial Aid to americas states and territories during the pandemic. I now recognize myself for four minutes to give an Opening Statement of the 189,000 people have lost their lives to the virus las
11 30 eastern this morning. That vote series will include the first test for the latest republican Coronavirus Relief bill 60 votes will be needed to advance the measure. Live to the u. S. Floor of the senate here on cspan2. The president pro tempore the senate will come to order. The chaplain, dr. Black, will ms. Smith open the senate with prayer. The chaplain let us pray. O god, who sits on a lofty throne, we acknowledge your sovereignty over our nation and world. Keep us from becoming so desensitized to falsehood that we abort your plan for our lives. Lord, we are unworthy to approach your throne, for we are merely sinners, saved by your loving grace. Remove our guilt and forgive our sins. May we respond to your forgiveness by obeying your command for us to pray for our nation. Lord, use our senators today as messengers of truth, unity, and peace. Inspire them to stand for right, regardless of the consequences. We pray in your holy name. Amen. The president pro tempore please join m
Outbreak of covid19 has led to an unprecedented Public Health crisis and a dire economic crisis. We have lost over 110,000 people to the disease, and 40 million remain unemployed. Back in february as the band that it was worse, we knew we needed to take action to help our Small Businesses survive the economic downturn. We started working with the sba and governors around the country to leverage the sba disaster resources available. Can you please mute . Anyone should be muted. Everyone should be muted. As the virus continues to spread, or state and local governments began imposing stayathome orders and business closures. We quickly realized Congress Needed to do more to meet the full scope of the problem, and that is when we started working on what ultimately became the cares act. To help Small Businesses and eligible nonprofits, congress created a new Paycheck Protection Program, expanded eligibility to the program and provided payment and interest relief for current sba borrowers. I
Without objection the chair is authorized to declare recess at any time. Let me begin by saying the practice will continue to apply during remote hearings. We must continue to the rules of the committee and the house. Members are reminded the technology they are utilizing today the committee will operate in accordance with Solutions Vendor the subsequent guidance with respect to the rights of all of the members that participate. Please keep your camera on and also to participate in others like this one they prevented them from being recognized in the questions and i would move to the next available member and recognize the time provided they return to the proceedings. I will recognize that for the remainder of the time and if they witness loses connectivity during the testimony or questioning. It from the seventh Congressional District beginning in 18871996 to take on that critical role. Being a member of the Small Business committee to serve as a chair of minority enterprise. I look f
Loans provided through the c. A. R. E. S. Act during the coronavirus pandemic. The House Small Business Committee held this hearing. I want to thank everyone for joining us this afternoon for our committees First Official remote hearing. I want to make sure to note some important requirements. House regulations require members to be visible through a video connection throughout the proceedings. So please keep your cameras on. Also, if you have to participate in another proceeding, please exit this one and log on later. You are recognized to minimize background noise. Over the last few months, the outbreak of covid19 has led to an unpresented Public Health crisis and dire economic crisis. We have lost over 10,000 people to the disease and 30 million remain unemployed. Back in february as the pandemic was getting worse, we knew we needed to take action to help our Small Businesses survive the economic downturn. We started working with the sba and governors around the country to leverage