Support Covid-19 Hospital Loan Conversion

Floor Speech

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Ms. KAPTUR. Madam Speaker, I rise to support and ask my colleagues to support the COVID-19 Hospital Loan Conversion Act, a bipartisan piece of legislation that I have introduced along with my good friend from Ohio (Mr. Gibbs).

Madam Speaker, our Nation's hospitals have invested heavily to prepare for and care for us during the coronavirus pandemic. They canceled tens of thousands of elective surgeries and nonemergency patient tests, at the government's request, to help ensure adequate hospital capacity, preserve gear and equipment, and reduce the risk of unnecessary patient spread.

Madam Speaker, this major shift has put some of America's hospitals on the brink of financial disaster. While a provider grant program that costs $175 billion and is designed to provide support to all providers is helpful, more support is needed, especially in regions that fall well below the median household income at the national average.

Madam Speaker, this legislation will convert Medicare accelerated and advance payment loans to grants to ensure the additional financial support hospitals and other providers direly need.

Hospitals across my district have shared that in the absence of more financial support, including this assistance, it is possible they will be forced to close their significantly scaled back operations.

Madam Speaker, I ask my colleagues to support the bill, the Gibbs- Kaptur, Kaptur-Gibbs bill, to help these hospitals out.

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