by Sandra Erwin—
Rep. Adam Smith: “We remain concerned that COVID relief money isn’t getting to the right individuals.”
WASHINGTON– The chairman of your home Armed Services Committee stated Democratic lawmakers stay opposed to giving DoD more cash to assist the industrial base. The issue is that DoD has actually not shown that the funds are helping the business that really need it, said Rep. Adam Smith (D-Wash.).
” We remain worried that COVID relief cash isn’t getting to the ideal people,” Smith told press reporters Oct. 21.
The Pentagon has actually estimated it needs an additional $10 billion to $20 billion to reimburse contractors for coronavirus-related costs and to make sure companies can continue to perform DoD programs.
Smith said he is not opposed to assisting economically stressed out national security specialists, but he believes a lot of DoD financing “increases the share rates” of big specialists that do not really require assistance.
” I haven’t seen a linear argument” that straight connects stimulus funding to the rescue of small businesses affected by the pandemic, Smith stated. “Large corporations will discover a way to gobble it up,” he stated.
As part of a major stimulus expense passed in March, DoD got more than $10 billion, about $1 billion of which was Defense Production Act money to help stressed industries that are important to nationwide security. Smith stated he estimated that DoD has spent $680 countless the DPA cash on the industrial base. “But I have not seen evidence of how that’s working.”
Comments
Post a Comment