<div>Sen. Cruz Introduces Comprehensive Legislation to Safely Re-Open the Economy, Get Americans Back to Work, and Get Kids Back to School September 9, 2020 | 202-228-7561 WASHINGTON, D.C. - U.S. Sen. Ted Cruz (R-Texas) on Tuesday introduced the Reinvigorating the Economy, Creating Opportunity for every Vocation, Employer, Retiree &amp; Youth (RECOVERY) Act, legislation that would help small businesses re-hire their employees and create jobs, help kids get back to school safely, allow Americans to catch-up on their retirement savings, and help find cures for COVID-19 while increasing testing. This morning, Sen. Cruz appeared on CNBC Squawk Box to highlight the RECOVERY Act and discuss the next phase of Congress' response to the pandemic and economic crisis. WATCH: <a href="https://www.youtube.com/watch?v=R8lnudJCS7M&amp;feature=youtu.be">Cruz on CNBC: RECOVERY Act Is How We Reopen Our Economy, Get Americans</a> <a href="https://www.youtube.com/watch?v=R8lnudJCS7M&amp;feature=youtu.be">Safely Back To Work &amp; School</a> In his latest op-ed for CNBC, Sen. Cruz outlined the provisions of his RECOVERY Act. Read the full op-ed <a href="https://www.cnbc.com/2020/09/09/op-ed-heres-how-we-can-get-the-economy-back-up-and-running.html">here.</a> Upon introducing the RECOVERY Act, Sen. Cruz said:   "For months, we've been dealing with two simultaneous crises - a deadly global pandemic and an economic shutdown that has resulted in millions of Americans losing their jobs. To address these crises, Democrats want to keep the economy shut down, keep schools closed, and keep people alone, broke, and unemployed. Instead, what we need to do is get people safely back to work and safely back to school, help small businesses re-hire their employees and create jobs, and expand COVID-19 testing and the search for treatments. We need real recovery, not a cynical plan from the Democrats that will deepen the economic devastation we've seen and won't create a single job." BACKGROUND:  To create jobs and get Americans safely back to work, the RECOVERY Act would expand COVID-19 testing, deliver payroll tax relief to employers and employees, bring supply chains back to the United States, and eliminate burdensome regulations that hurt small businesses. It would also give Americans who stopped saving for retirement this year the ability to make "catch-up" contributions and to restore their nest egg if they took a distribution from their retirement plan to cover expenses. Further, the RECOVERY Act would help find cures for COVID-19 by expediting the FDA approval process for COVID-19 vaccines and treatments approved in other countries, as well as by empowering states to approve and distribute diagnostic tests. The RECOVERY Act would also help get our kids back to school safely by providing parents the choice and flexibility they need to support their child's learning, and by allowing educators and local leaders to establish guidelines to address the unique needs of their communities.                     WATCH: <a href="https://www.cruz.senate.gov/?p=press_release&amp;id=5297">Cruz on Washington Post Live: "Congress' Priority Needs to Be Getting People Back</a> <a href="https://www.cruz.senate.gov/?p=press_release&amp;id=5297">to Work"</a> Read the full text of the RECOVERY Act <a href="http://cruz.senate.gov/files/documents/Bills/2020.09.08%20-%20Recovery%20Act.pdf">here.</a> Read more about the RECOVERY Act <a href="http://cruz.senate.gov/files/documents/Backgrounders/Recovery%20Act%201%20Pager%20-%20Final.pdf">here.</a> WATCH: <a href="https://www.cruz.senate.gov/?p=press_release&amp;id=5297">Cruz Speaks with Dana Perino on the RECOVERY Act</a> Read more about Sen. Cruz's efforts to get the economy back up and running <a href="https://www.cruz.senate.gov/?p=press_release&amp;id=5258">here.</a> WATCH: <a href="https://www.cruz.senate.gov/?p=press_release&amp;id=5264">Cruz on Face the Nation Discusses Need to Pass a Recovery Bill</a> ###  The RECOVERY Act Reinvigorating the Economy, Creating Opportunity for every Vocation, Employer, Retiree &amp; Youth   Safely Returning People to Work:Makes testing more accessible and readily availabEmployment  Encourages employers to create safe work environments  Ensures a safety net for those who need it most     &amp; the Workplace  Promotes return to work by exempting from federal income tax an employee’s next $10K in earnings Protects employers from lawsuits  TheDelivNextrspayrollGreattaxAmericanrelieftoemployersEconomicandemployeesRecovery: Job Creation  Makes permanent pro-growth provisions of the Tax Cuts and Jobs Act  Brings supply chains back to U.S. to create jobs, lessen U.S. dependence on China  Eliminates onerous regulations  Supports American energy producers and taxpayers by funding the Strategic Petroleum Reserve Allows use of AIP funds to prevent spread of disease at airports and extends aviation excise tax holiday  For Our Children: Safely Returning Kids to SchoolEstablishes a tax credit to promote school choice to help ensure children have access to a quality education  Provides parents with the resources and flexibility they need to support their children’s learning by expanding 529 savings accounts Helps schools and parents maintain a safe and healthy educational environment for students by establishing a tax credit for PPE  Driving COVID Cures &amp; Treatment InnovationLessens U.S. dependence on China for life-saving medications and treatments by expanding medical partnerships with Israel Expedites FDA approval process for COVID-19 vaccines and treatments approved in other countries  Empowers states to approve and distribute diagnostic tests  Promotes hospital price transparency  Expands telehealth and HSAs   EstablishingHelpsAmericansLongwho-haveTermlostRetirementtheirjobscontinueSecuritytosave for retirement Spurs the growth of new businesses, increases the wages of workers, enhances consumer purchasing power, and grows the economy at large by indexing capital gains to inflation Allows individuals to convert retirement cash-outs to a loan they can pay back Permits people to use their HSA to care for non-dependents, such as an elderly parent  The RECOVERY Act Also:Prevents religious discrimination by recipients of CARES funding  Holds state and local leaders accountable for abdicating their duty to protect the public by turning their streets over to autonomous zones and rioters Sunsets all unobligated spending from CARES at year end Sunsets Federal Reserve lending authority from CARES at year end </div>

Cruz Announces Economic Recovery Bill

Cruz Announces Economic Recovery Bill

U.S. Senate

Sen. Ted Cruz, R-Texas, in a September 9 release announced legislation that would provide payroll tax relief, expand COVID-19 testing and promote workplace safety, stimulate job creation, and allow for retirement catch-up contributions, among other provisions.

Sen. Ted Cruz, R-Texas, in a September 9 release announced legislation that would provide payroll tax relief, expand COVID-19 testing and promote workplace safety, stimulate job creation, and allow for retirement catch-up contributions, among other provisions.

Sen. Ted Cruz, R-Texas, in a September 9 release announced <a href="/lr/resolve//2cy1r">legislation</a> that would provide payroll tax relief, expand COVID-19 testing and promote workplace safety, stimulate job creation, and allow for retirement catch-up contributions, among other provisions.