Congressman Kim Advocates for Additional Funding Support to New Jersey in Hearing with Former Federal Reserve Chairs

July 17, 2020
Press Release

Congressman Kim Advocates for Additional Funding Support to New Jersey in Hearing with Former Federal Reserve Chairs

WASHINGTON, DC – Today, during a hearing of the House Select Committee on the Coronavirus Crisis, Congressman Andy Kim (NJ-03) advocated for robust financial assistance to states and local municipalities as part of a future Congressional aid package in response to the Coronavirus crisis. In May, Congressman Kim voted to pass the Heroes Act, which would direct $875 billion in funds to states and municipalities to recover from revenue shortfalls and costs incurred during the Coronavirus crisis.

Congressman Kim questioned former Chairman of the Federal Reserve, Ben Bernanke, on the importance of supporting states like New Jersey that have been hard hit by the ongoing crisis. In his remarks, Bernanke referenced not providing enough support to states and municipalities during the 2007-2009 global financial crisis as an impediment to a full economic recovery and strongly recommended a robust aid package to states like New Jersey.

The Congressman’s full remarks and questions before the Select Committee can be found here. Earlier in the day, Congressman Kim pressed Secretary Treasury Steve Mnuchin for a commitment to work with Congress to ensure New Jersey and New Jersey’s municipalities have the help they need to handle the financial impact of the Coronavirus crisis.

Information about Congressman Kim’s actions to contain the Coronavirus pandemic and address the ongoing economic impact can be found on his website by clicking here

Congressman Kim is a member of the bipartisan House Select Committee on the Coronavirus Crisis, where he serves as one of twelve members of the House tasked with conducting oversight over programs aimed at ending the Coronavirus pandemic and helping address the economic impact it’s having on the American people. Congressman Kim is also a member of the House Armed Services Committee and the House Committee on Small Business. More information about Congressman Kim can be found on his website by clicking here



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