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FOR IMMEDIATE RELEASE:
March 26, 2020
PHOENIX – The Greater Phoenix Chamber has been diligently working with Arizona’s Senators to advocate for the passage of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) federal stimulus package that supports Arizona businesses and employees during this unprecedented time of economic uncertainty.
“Arizona is fortunate to have two Senators who fiercely advocated for our state,” said Todd Sanders, President and CEO of the Chamber. “As a business and community leader, I applaud Senators Sinema and McSally for supporting this package, which will be a lifeline for businesses and affected employees.”
The federal stimulus package that the U.S. Senate passed late last night and that still needs to be passed by the U.S. House of Representatives includes provisions to support businesses during this time when individuals and business owners are asked to stay home to mitigate the spread of COVID-19.
Specifically, the package provides $350 billion for small business loans and $500 billion in loans for distressed companies to support industries most hurt by the unexpected halt of the nation’s economy.
“Arizona is a small business state, and these businesses are economic drivers for our community,” said Mike Huckins, Vice President of Public Affairs. “This stimulus package, in addition to last week’s approval for Small Business Administration Loans, is ensuring that our small businesses have access to emergency resources.”
With more than 500,000 small businesses, who employ more than 1 million people, small businesses are vital to the state’s economic prosperity and future.
“Ensuring that small businesses were included in any COVID-19 related relief packages has been a top priority for the Greater Phoenix Chamber,” said Sanders. “On behalf of our members, my team and I have been tirelessly working with Arizona’s congressional delegation to ensure that the needs of Arizonans are met. As this situation continues to evolve, our advocacy efforts will continue. We are here to take care of business.”
About the Greater Phoenix Chamber
Representing 2,400 businesses across the Greater Phoenix region, the Greater Phoenix Chamber promotes regional prosperity by serving as a catalyst for economic vitality and strong communities. The Chamber pursues this mission by collaborating with business, political and community leaders to grow the regional talent pool, create a regional approach to economic development and drive a pro-Arizona agenda.