Federal help is starting to make its way to Indiana residents and businesses. U.S. Senator Todd Young gave an update on the CARES Act during state officials’ COVID-19 press conference Tuesday.
He said direct payments to individuals and families should be going out this week. “For those who do not have bank deposit information on file with the IRS, they either need to put that information on file with the IRS or, instead, they will be receiving a hard check, and it will take two to three weeks for that check to go out, we are told,” Young explained.
The CARES Act also includes an extra $600 a week in unemployment benefits, while expanding unemployment eligibility to independent contractors and those who are self-employed.
When it comes to employers, Young said more than 235,000 loans totaling almost $6 billion had already been made to Indiana businesses through the Paycheck Protection Program. The senator also said Hoosier farmers remain a focus. “With over half of people’s meals in this country coming from restaurants, we understand that social distancing was required to keep folks safe and secure, but that has interrupted the food supply chain,” he said. “And on the back end of this, we’re trying to make our farmers whole and make sure that they, too, are able to pay their bills and insure that we can restore some semblance of normalcy.”
Young noted that the CARES Act also dedicated $100 billion for resources for health care providers. “As it relates to Indiana, over 23,000 companies have been approved for over $6 billion worth of PPE,” he added. He said his team also helped clear the way for a large shipment of PPE from China.
Other provisions of the CARES Act will provide more flexible funding for states and municipalities, according to Young, as well as help for education. During Tuesday’s press conference, Young expressed openness to providing additional funding to the Paycheck Protection Program.
