Last week, Congress passed H.R. 266, the Paycheck Protection Program and Health Care Enhancement Act. If you’re a small business that has been trying to apply, please contact your lender. If your application was submitted and is still pending, these will be processed first-come, first-serve now that there is more funding.
Since April 9, Republicans have been trying to provide more funds for the Paycheck Protection Program (PPP). These funds help small business owners provide paychecks, not pink slips to their employees. Yet, Democrats blocked this aid and Speaker Pelosi stated there is “no data” to suggest the program needs more money. On April 16, due to overwhelming popularity, PPP funding ran out. Our country has not seen a crisis like this in over a century, but instead of putting hard-working Americans first, Democrats have prioritized their political agenda.
Last week, we also learned that 4.4 million Americans filed jobless claims the previous week. A full two weeks after Democrats first blocked more aid to small businesses, Speaker Pelosi finally allowed a vote on a bill that authorizes an additional $320 billion for the Paycheck Protection Program. Based on a new estimate from Republicans on the Joint Economic Committee, this will support 28.7 million jobs, on top of the 30 million jobs the original funding supported.
Congressman Daniel Webster represents The Villages in the U.S. House of Representatives.
