Dave Moore, Staff Writer
Expect additional federal stimulus funding, a prolonged battle with COVID-19, and a strong North Texas rebound. Those are some of the takeaways from the Dallas Regional Chamber virtual town hall featuring U.S. Rep. Colin Allred, presented by Toyota Motor North America, on Monday, April 27.
“I believe we will certainly have to add more to the PPP (Payroll Protection Program) because the economic pain is going to continue,” Allred said.
“We added $60 billion to that – $10 billion for the $10,000 grants program, and $50 billion for the disaster loan program they have,” Allred said, adding that the administration’s EIDL program covers a larger range of costs than the PPP initiative.
During the town hall, which was moderated by DRC Public Policy Senior Vice President Matt Garcia, Allred said he believes the Dallas Region will continue to draw newcomers and businesses, and will be positioned strongly for a recovery.
“There is a reason why I think people want to come here, and it’s because they can get access to a strong workforce,” he said. “They know that this will be a climate that welcomes them, and I think all those factors are still going to be there when we emerge from this crisis.”
Allred also warned: “This is going to be an ongoing thing for us, and I think we… need to be honest with people on the long-term implications of this. We might be able to wrestle this virus to the ground, but it’s also likely we will have a recurrence later this year, in the fall or winter… We will have to be prepared for that.”