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Rep. Buck Opposes $2 Trillion CARES Act

March 27, 2020
Press Release

For Immediate Release
Friday, March 27, 2020
Contact: Lindsey Curnutte, 202-225-4676

WASHINGTON, D.C. – Congressman Ken Buck (CO-04) has released a statement concerning his opposition to the Coronavirus Aid, Relief, and Economic Security Act:

“America is facing a very serious public health crisis that also has the potential to affect the long-term health of our economy.

The people on the front lines fighting the spread of COVID-19 – our doctors, nurses, first responders, and other health professionals – need help. Congress should be stepping up to ensure America’s health care system has access to all of the needed personal protective equipment – like masks and face shields – and testing supplies to identify those infected and to help stop the spread of the virus. Businesses and employees affected by this virus also need help. Congress should be providing short-term financial assistance such as loans and in the form of a tax holiday. I recognize these needs and fully support action to provide these resources to stem the damage being caused in the present crisis.

As President Trump recently stated, “we cannot let the cure be worse than the problem itself.”

Unfortunately, the Coronavirus Aid, Relief, and Economic Security Act will harm our future generations in ways that the coronavirus never could — by drastically increasing our national debt by stuffing this bill with pork. The President has shown strong leadership during these trying times, seeking to help struggling families and small businesses. Congress must do the same. But we can’t do so at the expense of our children and grandchildren’s future.

After thoughtful reflection, I have concluded that I must oppose this bill, which contains many provisions that, as history and experience tell us, will do long-lasting damage to our economy, delaying economic recovery and harming Americans in return.

This truth is this bill will spend $6 trillion – not $2 trillion. Even that cost fails to include the cost of borrowing this money. There is no attempt by Congress to reduce spending elsewhere in the budget to pay for this bill. We believe that the fight against the virus will take six to eight weeks, yet this bill spends money decades into the future.

We must face these hard truths. The “cures” offered in the CARES Act are far worse than the problem itself and will be devastating for working families and small businesses in the long run,” Rep. Ken Buck said.

 

Congressman Ken Buck has taken necessary action to provide relief to families and businesses in Colorado’s Fourth District during the COVID-19 crisis:

  • On March 4, Rep. Buck asked the CDC to expedite Colorado’s grant request for testing, vaccine development and funds to stop the spread of COVID-19. The CDC ultimately awarded the state over $9 million to address the coronavirus outbreak.
  • On March 16, Rep. Buck joined the entire Colorado delegation in asking HHS for immediate attention to Governor Polis’ request for health care personal protective gear supplies from the Strategic National Stockpile for COVID-19. This request makes sure communities in Colorado have the supplies and equipment they need to address the outbreak.
  • On March 17, Rep. Buck joined the entire Colorado delegation in urging the Small Business Administration to provide low-interest loans to small businesses across the state.
  • On March 23, Rep. Buck signed onto a letter urging the Department of Treasury to act immediately in issuing guidance that assists businesses in compliance and advises them of resources and options available to them under the recently enacted Families First Coronavirus Response Act.
  • On March 25, Rep. Buck joined the Colorado delegation in requesting HHS review the state’s application for an 1135 waiver, which provides Colorado’s Medicaid program more flexibility to serve Coloradans during this turbulent period.
  • On March 27, Rep. Buck led legislators in a letter calling for President Trump and Vice President Pence to reevaluate the United States’ reliance on China and examine the long-term threat that China poses to our economic and national security.

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