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John Mino:

Good afternoon, everybody. I'm John Mino. And along with my colleagues Brent Pietrafese in Cleveland and Christine Hess in Washington DC. We're happy to welcome you to this webinar today featuring our guests, Congressman Anthony Gonzalez. Congressman Gonzalez represents Ohio 16th congressional district. Which is a suburban district around Cleveland. He serves on a House Financial Services committee, as well as on the House Science Space and Technology committee. Some of you may know of Anthony from his prior career or one of his prior careers when he was playing football on the grid iron at Saint Ignatius in Cleveland, Ohio state, and also for the Indianapolis Colts.

John Mino:

Almost exactly a year ago, Anthony was our special guest as a newly minted member of Congress and a newly minted member of the House Financial Services committee. At a private equity round table that we hosted him in Cleveland. He acquitted themselves quite well in that effort. And in early March, Anthony reached out to me and said, "Hey, John, I'd be more than happy to reconnect with some of your private equity folks and begin a discussion around what the Federal Government is kind of planning doing around the COVID part."

John Mino:

We are accepting that invitation today. We purposely held off accepting that invitation in early March because we thought it made sense for there to be some time to elapse around what the Federal Government was talking about doing, what it actually did do and have a chance to decompress around. So, today the Congressman is going to share some thoughts around what the COVID response to the federal level has been and what he anticipates the Federal response to the COVID is going to be going forward. Before we get into the question and answer though and the congressman's prepared remarks, there's also been another life altering event in the congressman's world that I'd like him to comment on. And that is the arrival of Caroline. And by my calculation, Congressman Caroline arrived about three months ago, just on the Eve of the COVID situation.

John Mino:

And so, if you care to comment on how Caroline's doing and importantly how her big brother Alexander is handling it. And how you and Elizabeth are now learning to do shall we say one-on-one defense with regard to Caroline and Alexander. I think I'd like to understand how your world is looking at that real well.

Congressman Anthony Gonzalez:

Thank you for that. So, first here's a picture of Alexander with his new sister.

John Mino:

Oh yeah. That's one thing he's trying to strangle her there.

Congressman Anthony Gonzalez:

No. So he does this thing where like, they'll sit in that position for about a second and a half and then he like pushes her.

Christine Hesse:

I'm done.

Congressman Anthony Gonzalez:

I don't know what this is anymore. So, it's been great. Caroline was born March 19th. So, right as all of this was kicking off. And actually, the hospitals took so many precautions that it was fairly empty. It almost felt like a private hospital in a way. I was screened coming in. They only allowed one visitor, but we made it through my wife is a champion I mean. I was sitting there reading something and she goes, okay, I think I'm ready. And then 15 minutes later we had a baby. So yeah but it's been great. In all honesty it's been harder certainly.

Congressman Anthony Gonzalez:

I've compressed my schedule so I can help out with her because we can't get sitters, right. Like at least we haven't done it. And we've had help from her mom and we've had help from my mom and now we're alone. So, it's been a little, a little harder but we're doing well and she's been a breath of fresh air she really has been throughout this whole thing. There's nothing more centering than having a little one at home there.

John Mino:

I think it provides some context and everything else that's going on.

Congressman Anthony Gonzalez:

Absolutely.

John Mino:

Congressman, before we get into the Q and A, I have a question on my own as you provide your opening remarks and that is many of your constituents, no doubt have reached out to you in the past couple of months, asking for your office to be helpful with various federal agencies. And I think it would be informative for, our attendees to maybe hear some of the things, some of the leverage you've been able to pull on behalf of constituents. To maybe move the ball forward, to use the football analogy. And also candidly, some of your frustrations your offices has no matter how hard you're working the Federal Bureaucracy is going to defeat the situation. So, if you care to comment on that with your opening remarks I'd appreciate it.

Congressman Anthony Gonzalez:

Sure. Do you want me to get into the opening remarks now? Or-

John Mino:

How do want to do that Congressman?

Congressman Anthony Gonzalez:

So, first of all, I'll take that question. So, in all honesty, I think the administration and the Federal Bureaucracy for the most part has worked incredibly well at speeding up their processes and kind of pulling a lot of what's frustrating away. And I'll give you sort of three positive examples and then I'll give you some frustration. But on the positive side so one just right off the back, the state department when these travel restrictions all came out, right. We had constituents all over the world. We had constituents in almost every country you can imagine in very remote parts of South America and in Africa. And we had somebody in the Gaza Strip. And the State department really came on strong and got everybody home. Which getting somebody out of the Gaza Strip by the way is very difficult.

Congressman Anthony Gonzalez:

It turns out is who do you call? You know, the Israelis and those in Gaza do not in Hamas, do not have a great relationship. So, we had to really work some magic there. State department did a great job. So we got everybody back. I give them an, A plus on that because that's tough obviously. Treasury we've had mixed results with, so the IRS deadlines getting moved. I would say we were a part of the squeaky wheel there for sure both the first time when the colt screwed up with like the time when it but it moved in a better direction. And then the paycheck protection program is another one where I feel like we've gotten some great results. So, we were reached out to by constituents throughout that process. I can't tell you how many conversations I had with manufacturers or business owners in our district while these shutdowns were going on saying, "Hey, if you guys don't open the economy, I'm laying off every employee I have because I don't know what's going on."

Congressman Anthony Gonzalez:

And they'll keep essentials but they're basically going to lay off their workforce. And I was calling everybody and saying, "Please don't do that. We have this program, it's going to work great. Just hold off and there'll be a forgivable loan and all these things." And most people took me up on that. Unfortunately, and it was great and treasury put some rules in that I thought were okay, but as the programs evolves, unfortunately I think treasury has kind of stepped in it a couple of times. And made confused people frankly I mean, we had one set of guidance come out where the state unless you exhaust all other forms of liquidity, which I guess means cash, revolvers, other bank debt, unless you basically liquidate your business, you can't take these or else we will criminally prosecute you.

Congressman Anthony Gonzalez:

So, that we got a lot of outreach and I candidly I don't try to take credit for things I didn't do. I would say I was probably the leading voice on the house financial services committee and getting them to reverse that. We had multiple calls with them, with the secretary himself but also those who work directly on this program. And so they did ultimately come out with better guidance, not exactly what I would have wanted, but I think it's better because it at least takes the criminal liability component out and brings the tenor down. So, that's on the positive and negative, right? On the positive side, they were responsive on the negative side it was awfully frustrating and scary for a lot of businesses, some of which, by the way called and said, "I sent back the money and now they changed the rules." And by the way, I had people on staff for six weeks.

Congressman Anthony Gonzalez:

And so, I'm out the money, I don't have the loan and now what am I supposed to do? And so, unfortunately that remains a frustration for mine but hopefully we have it moving in the right direction and we will keep beating the drum on that because it's an important program. Broadly kind of how I was looking at this initially and I'll tell you how I see it going forward. Broadly we had essentially a government created, government mandated economic recession to take care of the health crisis. However, whatever your opinion is on whether that was the right thing to do, that's ultimately what happened. In that world I believe you got to have basically one goal if you're on a committee like the house Financial Services Committee. And that is to make sure that all these liquidity problems don't become financial crises and solvency issues.

Congressman Anthony Gonzalez:

And so, what we've been trying to do is plug all the liquidity holes as I like to say. So, we plugged the small business liquidity hole. We plugged the holes for those who have been laid off. Plus up on unemployment insurance probably went too far with it, but that was the goal, right? Let's get liquidity out there. The stimulus checks, let's plug that. And all these fed facilities that they've set up, small bond markets they've gotten into corporate debt. And so all these different things are designed to plug liquidity holes to protect the underlying structure of the economy. I think that's largely the right response. Obviously there was a whole bunch of stuff on the health side too, right? So, by half the money we've allocated has gone towards solving the health crisis. Where I believe we are now as States appropriately start to reopen.

Congressman Anthony Gonzalez:

Everybody says, we're in the rebuilding phase. I think we're kind of in this interim phase. Which I would call restoring confidence. If you turned loose every single business today and every single restaurant and everything, I still think you would have a great bit of anxiety amongst consumers today. And you see that around the world. Places that didn't shut down still had depressed economies because the virus is scary. It does take out a big portion of our elderly population, but also anybody with preexisting conditions of any kind. And it does rear its head. So, I think what we need to be doing right now, principally while we see how the cares act dollars unfold is help our society get the anxiety down. We need people to feel safe and comfortable going back out into the world. I think you do that primarily with two things... Well with three things.

Congressman Anthony Gonzalez:

One testing and we are ramping to where you want that to be. If you look, most people would say South Korea had the best testing in the world. They have about a five percent positivity rate, meaning five percent of the people they test positive. We are in single digits now, about three weeks ago we were around 20%. So, you want that to be low that means you're catching the majority of the cases. So, we're moving in the right direction there. So testing needs to continue to ramp but I think we're doing a nice job. Treatments obviously so, we have some vaccines in the pipeline that are showing promise. This Remdesivir showing promise. I think the presence on the hydroxy chloroquine, which I personally don't think makes sense but that's for him and his doctor to figure out. And then the final thing I think we need to do is provide guidance.

Congressman Anthony Gonzalez:

So, I was making a call or a comment earlier before we jumped on, which is like, we have a million and a half cases, 90,000 fatalities from this virus. That is tragic in every sense of the word that is a lot of data. And if you are a data scientist or you're somebody who researches these things inside of that data, there have to be a set of insights that you can provide to the public so that people can assess risks for themselves. And they can figure out how risky is it for example, to go to the grocery store, how risky is it for me to send my kids to childcare to school? How risky is it for our kids to play baseball in the summer. And a constituent yesterday you said, is there anything you can do about this are there guidance that came out of the state doesn't make sense.

Congressman Anthony Gonzalez:

And so, when you kind of look at all this in this interim stage, that's what I think our focus should be. Let's continue to monitor the economy so that when we really turned the gas on a rebuild that the consumers there and the confidence is there, so that we can get back out as quickly and powerfully as possible. And so that's sort of where our focus is. Congressionally, there's a focus on just seeing where the cares dollars sort of fall and then kind of moving based on what holes still exists which I think makes sense.

John Mino:

Thanks Congressman.

Christine Hesse:

That might- Yeah.

John Mino:

Before so I'm going to hand off the question and answer right now to Christine Hesse and Brent Peter Pietrafese, and they're going to take it from here. I appreciate very much, we're going to end at 3:30.

Congressman Anthony Gonzalez:

Great.

Christine Hesse:

I think that's a good segue congressmen and we did want to talk a little bit about the paycheck protection program and you already touched upon some of the problems or some of the frustrations, I think right out the gate with the first traunch and now there's been a second traunch. So maybe we can move specifically to a question. I know Brent was going to ask you, because we have had now some loan forgiveness guidance that came out there was much awaited. And I know we have a number of clients and interests around the state of Ohio and beyond in that issue. So, Brent, do you want to take it from here with that question?

Brent Pietrafese:

Thanks Christine. Congressmen, as you touched on, there's been frustration from the small business community that guidance from treasury and the SBA has either been late, somewhat unclear or at worst confusing. And as Christine pointed out last Friday, treasury and the SBA released the much awaited forgiveness application, which in and of itself was somewhat helpful but still unclear on several key points. And then also left the door open for additional changes. And as you've mentioned, you've had some dialogue with treasury on some of those topics. So, do you think that the guidance will continue to evolve as lawmakers hear more about these concerns such that people need to keep their eye on the ball there?

Congressman Anthony Gonzalez:

So, in a sense, I hope it does, but in another sense I don't, right. So, part of the program is, the program that the initial guidance, the initial rules that came out with some of these things are inventions of treasury, right? Like the 75, 25 split that is not in the bill, that is nowhere in the bill. And that's an invention. This notion that anything over two million is going to get fully audited and there's criminal penalties. That isn't an invention of treasury. And so there are things that they created that I always say, like there was a point where they had the guidance in a place where I said, I would have voted no one. I mean, with the way you have that structured, I would not have been for that. I voted on something else. I voted on forgivable loans, for small businesses who qualify less than 500 employees. Right. We all know what kind of was original intent.

Brent Pietrafese:

Right.

Congressman Anthony Gonzalez:

And so it is moving I think, in a better direction, but it's still confusing for everybody. And so I don't know if this'll be welcomed news or if you'll say, please stop changing the program, but there is talk that two changes that would be made well, three changes. One get rid of the 75, 25. This would be done legislatively by the way get rid of the 75, 25, extend the payback period from eight weeks to, I think 24 weeks, it's either 24, 16. I realize that's a big difference but extend the payback period. And then the third one is to fix the tax treatment issue. So there's obviously they screw that up on the deductibility component another again, invention not in what I voted on. But there's a bill in the house that I've been told we're voting on next week.

Congressman Anthony Gonzalez:

That would correct for those three things. The problem with that though, is that then would also force a new set of guidance and it's another change midstream. So, I'm not sure I feel strongly one way or the other, whether we should clean up the application that just came out that 11 page thing and just sort of stopped with the changes. Or we should make this further amendment. So I'd actually be curious to hear whatever but I don't think we can do that on this. But hear what everybody else has to say. So, reach out to us or to those on the call, if you have a strong opinion one way or the other. Because I'm honestly of two minds right now.

Christine Hesse:

And if I could jump in and ask a question, I know came up yesterday in talking about extending the covered period to the end of the year. That is something that has to be done legislatively correct. It cannot be done by the administration?

Congressman Anthony Gonzalez:

That one needs to be done legislatively.

Christine Hesse:

Okay.

Congressman Anthony Gonzalez:

Yes.

Christine Hesse:

That's what we thought. Okay, great. Go ahead, Brent. I'm sorry. I didn't mean to interrupt you.

Brent Pietrafese:

Yeah I know that's helpful. Thank you, Congressman. And I think we certainly not surprisingly heard a lot of feedback on those points from our client base. And they are also similarly frustrated the goalposts continue to be moved, to use another football analogy. So, one other point that we've heard some feedback on is that the way they've defined and calculated the number of full-time employees for purposes of the loan forgiveness requirements is different than what labor has traditionally used. Sort of traditionally companies would provide benefits to employees based on a 30 hour week. That would be sort of what they would be deemed to be a full-time equivalent. But earlier this month, the SBA clarified that FTE for the purposes of the loan forgiveness calculations would be 40 hours a week. Is this something you've heard, talked about or see that potentially could be included in the future corrective legislation or future guidance from the SBA?

Congressman Anthony Gonzalez:

Honestly, we haven't heard that from anybody yet. This is the first I've heard that. I mean we can certainly chase it down but I have not gotten outreach on that specific issue for many of our businesses yet.

Christine Hesse:

Okay. We can follow up with you on that and with Steven in your office.

Congressman Anthony Gonzalez:

That would be great.

Christine Hesse:

And I know to address a lot of these concerns, you introduce legislation a couple of weeks ago, along with Congressman Dave Joyce and some others, some by bipartisan support there. And was looking at for you to be able to share a little bit more with us about the bill and it provides flexibility all along the lines of what you've been discussing.

Congressman Anthony Gonzalez:

Yeah. So, the impetus behind the bill just to take a step back is back to my initial point about sort of our goal being to plug liquidity holes into, to make people whole for these government mandated shutdowns. Two industries that just haven't been helped and there's others but hotels and restaurants. So, for a variety of reasons that the PPP program doesn't work particularly well with them, hotels have a different issue in the CMBS markets that is also a challenge. But in any event, so what we wanted to do with our bill was to provide some flexibility for those industry specifically on how they spend the dollars. So again, get rid of the 75, 25 and extend that period to 16 weeks. So, that's what our bill would do is, was very similar to the bill that we're set to vote on next week.

Congressman Anthony Gonzalez:

So, again I think I'm pretty the one next week extends it to 24 weeks. So it goes in a similar direction, but it goes maybe a little further, which I know our restaurants would appreciate. Because when we put our bill forward we thought 16 primates sense. But now as the restaurants are coming back online, I think they're realizing and we're all realizing they're not coming back anywhere near full strength. And so, if we want more great restaurants that we all know and love, we're going to need to provide some additional assistance for them for sure.

Christine Hesse:

If, we could pivot to another issue liability. So, in addition to helping meet payroll and paying for other expenses, small businesses are, as you know we are increasingly worried about a liability exposure from workers and customers who may unwittingly be exposed to COVID-19. Without reasonable liability protections in place, even businesses that can open maybe reluctant to do so as efforts are underway in a number of States including Ohio. And there's also legislative proposals percolating around the Hill as well. I wanted to see if you could share what you are hearing with respect to liability at the federal level.

Congressman Anthony Gonzalez:

Yeah. So, I will tell you I've been on calls with Mitch McConnell just recently. And then some of my other Senate colleagues last week call with Mitch, I think was yesterday. Corona days all run together. But in any event, in my belief is that the liability protection is a red line for Senate Republicans. So, there will be no additional anything with respect to this crisis, unless it includes the liability protection. So that's their number one issue. It's the number one issue of the White House and so I suspect that anything we do will have that in it. Which I know is much appreciated by many on the call.

Christine Hesse:

Great news.

Congressman Anthony Gonzalez:

Yep.

Christine Hesse:

Brent, are you up?

Brent Pietrafese:

Yeah. Thank you. So last week the house passed that massive three trillion dollar spending package. And it seems in this environment that the Federal Government may need to continue to spend for quite some time to stave off high unemployment numbers and small business closings permanently. How long do you think that the U.S. can continue to spend at this rate? And aren't there concerns in Congress about the spending and adding to the already massive federal debt?

Congressman Anthony Gonzalez:

Yeah. Great question. So, I kind of go in two directions. One is just a quick sort of how I see the debt and there are different opinions on this. So, I think there's sort of structural debt and that's driven by Medicare Social Security, right? Like the demographics are upside down, especially medicare and the cost of the program continue to accelerate way faster than our ability to pay for it. That is a structural debt challenge that we have to address. And unless you address that you can't possibly address the overall debt for all them in the country. And so there's that problem, which I would argue is the biggest from a debt standpoint that's the biggest challenge. And then there's the debt that we're incurring as a result of this crisis. Look, I like most people do not like debt. I don't like it personally.

Congressman Anthony Gonzalez:

I have very little personal debt. I've never been a big debt person. I just don't like it. It makes me uncomfortable personally. And so, I think there's certainly reason to be concerned about what we've done to the Federal balance sheet. Having said that with rates at zero, I think it's okay. And I think what we've done is a aqutive provided rates stay at zero. Where this gets very bad very quickly is if we get a bout of inflation. And rates have to start going up and then we have big massive challenges. And so, the hope is that won't happen. I will tell you I was on a call with fed chair Powell about two weeks ago. And he kind of shared a very similar sentiment to what I just shared. And his view was that we still have quite a bit of room to go in terms of stimulus before inflation becomes a big challenge.

Congressman Anthony Gonzalez:

I don't know that I agree fully with that perspective but that is how he's viewing it. And the final thing I'll say is when it comes to getting people back to work and Washington continuing to spend, I think there's really two places where you could see maybe three, three places where you could see big spending. One would be an infrastructure package. I think we're too early for that, but I could see that sort of beginning of next year maybe a big infrastructure package.

Congressman Anthony Gonzalez:

Another is continuing to support the medical side. And then the final one is there's a chance that we need to do more on the small businesses. Because these periods are ending and these States are still shut down. And revenues like I said, the consumer's not there. I mean, even if you opened everything up, our retail stores, aren't going to be filled like they were the consumers just know not where they need to be to really power our recovery yet. So, there's a chance we would need some investments there still. But again, I guess I draw back to the original point. I think the structural debt's the bigger problem on the debt side. This is sort of a temporary debt situation that I do believe we'll be able to pay down with rates at zero.

Christine Hesse:

So, speaking of adding to the debt, the house, as you know Democrats just put forth last week. And the house voted on the three trillion dollar, spending package that now sits at the Senate desk. And the Senate Republicans Congress leader McConnell has said, this is pretty much going to sit at the Senate desk and it's not what we're likely to take up. But certainly there are some things in there, or at least some things that your side of the aisle and just Congress as a whole sees may need to be perpetuated, may need to be passed in a next COVID 19 funding package.

Christine Hesse:

I know secretary Muno and even said publicly today that there's a strong likelihood that another Corona virus or Corona virus relief bill is going to be... Need to be done as more States start to reopen and as the economy struggles to stabilize. So, curious if you could maybe put for some of the things that you think should be in that next package, whether it's a COVID four package we call it, a stage four stimulus package are we looking at another replenishment of the PPP? Are we looking at more money for testing and tracing? What are some areas that you think have bipartisan support will likely come out of the Senate?

Congressman Anthony Gonzalez:

You know that's a good question. I, again, I'll draw back to kind of what I said. There is a red line in the Senate on the liability side. So I think anything we do has liability as a part of it which is good. So, that's going to be a component. I do believe that anything we do we'll have more resources on the testing side, specifically, potentially some things for loan forgiveness for our hospitals, like Northeast Ohio, for example. I mean, we had our hospitals get everything they were supposed to, they canceled all electives, basically cleared the deck to handle COVID and COVID never really came. I mean, it came, but not nearly in the numbers that we were kind of anticipating. And so, all of our hospitals took enormous losses in over the last couple of months. And that's a problem for you each in the clinic, but it's a big problem the further South you get in my district.

Congressman Anthony Gonzalez:

Where the balance sheets aren't as big. And so, I think you could see something there. And then also what they're calling revenue replacements for State and local government, I think less on the State but more local. So we have done some stuff for the States, but that's staying at the State level. We do have an issue in my district where you've got a lot of cities that are very well-managed do not have problems with their finances. But because of this, revenues are down 20, 30% and expenses are actually up because police in fire have been working overtime. And so, that's putting a lot of strain on them. So I think you'll also see something there. But it's going to have to be tailored very specifically so that you're not in a bailing out States with long running fiscal problems like New York, for example, it's been upside down for a long time. This isn't about bailing out New York's very poor management. But more about giving the strongholds of the world a little bit of relief for this crisis.

Christine Hesse:

Great. I know we're kind of coming up on the end of the half hour, but just a couple other things we want to give you an opportunity. I know you sit on two task forces, the president's task force on reopening the economy, as well as the China task force. Would you like to spend a minute kind of talking about what you're working on there and share with the audience some of those efforts.

Congressman Anthony Gonzalez:

Yeah. So, start with the president's task force reopening the economy. I'm very honored to be a part of that. I think I'm the only freshman on it, which is very nice. And the whole purpose behind that, that I'm working on is what I'm calling returned to the live economy. So that's restaurants, that's conferences, that's concerts, but that's weddings, baseball games whatever it is. The things that we enjoy together in outside in big groups. And that's been my big focus are. It's an enormous driver of the economy but it's also a big driver of social morale. There's nothing I enjoy more when they win going to Brown's games. I think we're going to win a lot by the way this year. But that's separate point but in any event. So, that's one thing that I've been working on a lot there.

Congressman Anthony Gonzalez:

And that primarily puts me in a world of what I talked about, bringing confidence up and anxiety down. So, that's getting these studies that I think need to be done orchestrated inside of our agencies also ramping the testing capability and the type of testing so that we can more confidently returned to the public space. So, that's where I spent the bulk of my time on that. And that's been great. That's primarily an advisory thing where we tell the president, "Hey, here's what we're seeing, here's what we're working on." And it's a good place to get feedback. The China task force, frankly, when you think about probably the rest of my life and the rest of my kid's life, the most important international relationship geopolitical situation in the world is U.S. China. And I don't think that's going away. And I kind of campaigned on this, frankly, nobody was willing to let you talk about China so much.

Congressman Anthony Gonzalez:

But the truth is they look, they've abused every single international organization they've ever been a part of. They've reneged on every deal they've ever been a part of. And their gross negligence for how they operate their economy is part of why this has become such a big issue in the world. And it's not just the U.S. a lot of people like to bash the president. I said, go find me a country that did this. Well. I mean, there's like three and it's a lot of it comes back to China. And so, I'm excited about that task force. What I'm working on specifically are two things they have subcommittees. One is energy in the economy and then the other is competitiveness. So, on the competitiveness side, that's about making sure that we are always at the bleeding edge of the technology landscape in the country.

Congressman Anthony Gonzalez:

So, China does not dominate the technology with the future five G, quantum computing, renewable energy, whatever the technologies of the future are we need to lead on that so that we can define standards so that's one. The second piece I'm working on is what we call Economic Statecraft. So that is reform inside of the world bank and the IMF and the WTO, all these international organizations that China's captured more or less and has way more influenced than they should. I think we need to get those back. We need to reassert ourselves and we need to make sure that China, if they want to be a part of the global economy, they have to play by the rules of the global economy.

Congressman Anthony Gonzalez:

And that's going to require an enormous amount of leadership from our country. And I think others will follow, but we need to really take the mantle so. So those are the things that I'm working on those task forces. That second one, I suspect the China piece will dominate my life for as long as I'm in. But it's definitely a fight worth having we got to get that right.

Christine Hesse:

Yeah. Good stuff. And just to wrap up and again, you bring a unique perspective to this. And I talked about in your honor wearing my scarlet and gray, I'm sure the audience would love to hear what your thoughts are in terms of a return to not only college football but the NFL. And if we're looking at a season later this fall for both of us.

Congressman Anthony Gonzalez:

Yeah. I do believe that we're going to get sports back sooner rather than later. So, I've connected with most of the commissioners of the major pro sports and the NCAA I'm actually talking to Ohio State after this call. But in any event everybody's committed to coming back. And they want to do it safely, they want to do the right thing. The good news is the players if you just look at how this virus works, the players are probably fine. There are some coaches who you know aren't the healthiest people. But so there's going to be an issues there, but I think they'll make the right call. And then my like dream is that we actually do get some fans in the stands here come fall. Because I think Jean Smith said he could get 20,000 people in Ohio stadium and they wouldn't have an issue.

Congressman Anthony Gonzalez:

And I think that's probably right. You got a hundred thousand seats. I think you can get 20,000 of them in. But I'll tell you, they are committed to getting back on the field. The leagues themselves should be putting a proposal together. They're going to coordinate on this and send it over to the White House, into myself on kind of what they're thinking. But there's a big effort and I think they'll get it done. There's so much money involved but it's like, you got to have this. I mean, this is crazy. I've never watched NASCAR in my life until last weekend because I'm like this is the only thing that's on. So, we've got to get our major sports back [inaudible 00:36:12].

Christine Hesse:

Yep. That's great news. And I hope we can get 20,000 in Cleveland Brown stadium. Right. I mean, that would be well worth it to have a great season for the Browns.

Congressman Anthony Gonzalez:

Absolutely.

Christine Hesse:

So, Congressman thank you we've gone a little past the half hour, so I appreciate your indulgence and spending time with us this afternoon. And all your inside perspective on some of these issues and look forward to working with you on a number of these issues going forward. So, stay healthy and congratulations on Caroline.

Congressman Anthony Gonzalez:

Thank you. Stay healthy, everybody. Good to be with you all. Thank you.

Brent Pietrafese:

Great. Thank you.

Christine Hesse:

Okay. Thanks everyone.

Congressman Anthony Gonzalez:

Bye.

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