In The News
Rep. John Garamendi, D-Solano; joined Rep. Dean Phillips, D-Minn., to push for a national coronavirus contract tracing program Tuesday.
Ordinarily, it's cause for celebration when a large federal program comes in well under budget. That’s not the case, however, for the government’s key program to stabilize the private sector during the novel coronavirus-related economic crisis: the Paycheck Protection Program (PPP), administered by the Small Business Administration.
Speaker Nancy Pelosi has committed to holding a vote this week on a bipartisan bill that would give small businesses receiving Paycheck Protection Program loans more flexibility. Senate Republicans have also proposed fixes. So let’s hope they can put aside political differences and take care of small business.
The House was already facing a deadline crunch this summer, with a slew of must-pass bills threatening to overwhelm lawmakers for months.
And that was before the coronavirus pandemic struck.
It was a seemingly off-the-cuff bit of concern trolling that few in Washington could pull off other than Speaker Nancy Pelosi. On Tuesday, in her best Italian grandmotherly tone, Pelosi expressed concern at President Trump’s use of the unproven COVID-19 remedy hydroxychloroquine because of possible side effects stemming from the president’s health condition.
Lawmakers are accelerating their push to extend the time frame for small-business owners to spend funds received through the $670 billion Paycheck Protection Program.
The Senate will consider legislation that would double, to 16 weeks, the amount of time businesses have to spend PPP loans. Backers say the proposal has bipartisan support.
One of the great threats to the post-pandemic economy is becoming clear: Vast numbers of small and midsize businesses will close permanently during the crisis, causing millions of jobs to be lost.
The federal government moved with uncharacteristic speed to help those businesses — enacting the Paycheck Protection Program, with $669 billion allocated so far.
Rep. Dean Phillips, D-Minn., and Rep. Chip Roy, R-Texas, on their efforts to improve the Payroll Protection Program.
Almost from the day the $670 billion Paycheck Protection Program was announced, restaurant owners have been complaining that it doesn’t work for their industry. Congress has clearly heard them.