United States-Mexico Economic Partnership Act

Floor Speech

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Ms. WATERS. Mr. Speaker, I thank the gentlewoman for yielding.

The relief in this bill is desperately needed, as families struggle during the pandemic crisis. The negotiations were difficult. They were tough. I wish we could have done even more, but I am pleased we have done as well as we could have done to provide relief for so many in desperate need for their government to come to their aid.

As chairwoman of the Financial Services Committee, I am proud to have secured $25 billion in emergency rental assistance. We need much more. We also got an extension of the eviction moratorium and $12 billion in low-cost, long-term capital and grants to the minority depository institutions and the credit unions and the community development financial institutions.

I thank Ranking Member McHenry, Chairman Crapo, and Ranking Member Brown for working with me on these provisions.

I am so pleased that the legislation includes stimulus payments for families and individuals. Not enough, but I am pleased.

I am also pleased it includes new funding for unemployment insurance. Not enough, but I am pleased.

I am also pleased we have support for Los Angeles International Airport in my district and small business forgivable PPP loans. This bill will also expand the amount of PPP loans for which restaurants are eligible by a considerable amount.

Let me be clear: Much more is needed, but this bill is a most important first step, and I am very pleased that we are able to come to the aid of all of our constituents.

I thank Nancy Pelosi for the tremendous job that she did in negotiating to get us to this point.

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