Thank you, Mr. Chair.
Thank you, Mr. Matthews and your colleagues for the testimony today. I'd also like to thank your department for working so hard in making sure our nation is taken care of during these difficult times.
I want to follow up on a topic that was brought up earlier on the ESCR. You explained it as a short-term backstop for key industries. It's going to be launched on August 3. That's what I heard in your testimony and jotted down. Can you please explain why it's August 3? Why not earlier? Also, who can apply for this? What is the application process? How long does it take and what are the criteria?