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Elk Grove Citizen

Congressman McClintock Released the Following Statement on the CARES Act:

Apr 08, 2020 12:00AM ● By Office of Congressman Tom McClintock

WASHINGTON, D.C. (MPG) - Covid-19 didn’t kill our economy.  Government policies, however well-intentioned, did.   In just a few weeks, they have derailed the most prosperous and promising economy of our lifetimes and put us in imminent danger of permanently destroying millions of American jobs. 

The unprecedented spending in this bill threatens to destabilize the fiscal structure of our federal government and suppress future economic growth. But in order to deal with those issues, we must first arrest the damage caused by actions that have plunged us into recession.

Temporary job losses will very soon become permanent job losses without federally guaranteed loans to preserve those jobs and a way for families to recoup their financial losses. This bill does so – although inefficiently, wastefully and at enormous cost.

Despite all its flaws, passage of this bill is therefore imperative. But it is no substitute for getting Americans back to work.