The following is news from the U.S. House Financial Services Committee, where Guam Congressman Michael San Nicolas presides as vice chairman:
In March, Committee Democrats led by Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act (H.R. 6321), legislation to provide a comprehensive stimulus and public policy response to the coronavirus pandemic. This legislation executes the comprehensive plan released by Chairwoman Waters and Committee Democrats in March 2020. H.R. 6321 includes provisions to support state, territory and local governments, including a bill from Congressman Michael San Nicolas (D-GU), Vice Chair of the House Financial Services Committee, to waive matching requirements for municipal governments. See below for what the Vice Chair had to say about H.R. 6321 and his provision included in the legislative package.
“This measure includes individual components led by various Members of the Financial Services Committee who came together to package comprehensive stimulus measures for all Americans. "Territories are fully included, and we have also contributed to all of America by leading a provision to waive federal matching fund requirements for local governments, saving millions that can go to pressing needs in individual communities throughout the country. "For the people, we have direct cash assistance, debt suspension, rent support, eviction restrictions, and many other provisions to ensure that everyone is able to make it through during these times. "With HR 6321 we have set the stage for this recovery package to be focused on the people who need it and the small businesses that make this country strong, truly an all-American response," Congressman San Nicolas concludes.
Chairwoman Waters and Financial Services Committee Members continue their efforts to ensure their critical legislation is included in the ongoing legislative response to the coronavirus crisis.