How Tuesday's Coronavirus stimulus will affect local business

How Tuesday's Coronavirus stimulus will affect local business

Fund, visit our website at w-d-e-f dot com.

In response to the increasing economic uncertainties, president donald trump and congress have been working together to pass emergency legislation.

The most recent bill attempts to alleviate work pressures and testing troubles.

News 12's angela moryan tells us how this will affect the tennessee valley.

Chuck fleischmann: "we are in uncharted waters, but we are rowing in the right direction."

Wednesday night, president donald trump signed into effect a second coronavirus stimulus package, as the economic landscape continues to deteriorate.

The law includes a guaranteed two weeks of paid sick leave for qualified workers -- and fund reimbursement for those paying companies.

Fleischmann: "what these bills are designed to do is get help, not only to the workers, which is very important and it will do that, but also make sure that we preserve these industries."

Charles wood: "one of the most important things we'll see locally is the small business administration will have funding available for the loans that will be able to go out to local companies.

It's going to create an opportunity for loan funding that will get them through a period of time where they don't have a revenue stream."

Another focal point of the families first coronavirus response act is free testing for every american.

Fleischmann: "it's very important that regardless of income, regardless of insurance, we need to get people tested.

Obviously, for their own benefit.

But also, we want to make sure that if someone tests positive that they self quarantine and take necessary measures that they don't infect other people."

The hamilton county health department says the availablity of supplies might limit the number of tests initially, and they will update the community when a testing site will be open.

The act passed the senate with a 90 to 8 vote.

Tennessee senator marsha blackburn was one of the few that voted 'no'.

She says in part: "at a time when revenue has decreased for many, it is irresponsible to implement a one- size-sits-all government mandate requiring employers to provide paid sick leave..."

You can find her full statement on our website, wdef-dot-com.

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