On the recordMarch 17, 2021
Madam President, this past year has been hard on Hoosiers and Americans across the country. When the economy was shut down, Congress got to work. Given my background as a business owner, I was involved in negotiating the Paycheck Protection Program, known as PPP, as part of the CARES Act, one of five bills that passed in 2020 with overwhelming support, I think 90-plus votes. We worked it out, Democrats and Republicans, together. Those COVID-related packages totaled $4 trillion, and we didn't have a penny saved up ahead of time to prepare for it. That is part of a deeper problem with this institution, is that we borrow anything that we spend money on, even 23 percent of our annual operating budget. To put that in perspective, imagine if you had a business doing $100,000 in revenue, and you are losing $23,000, and then you go to your banker and expect them to bail you out. It wouldn't make sense. We came into 2021 with over $1 trillion from those packages unspent, unobligated. Instead of working with us like before, Democrats did shut us out of the process. In fact, the Senate as a whole did not work the bill through committees. It was laid to us, on the Senate, by the House, all $1.9 trillion of it. Before this, some Republicans went to the White House to talk with the President about a bipartisan plan, knowing all the money would be borrowed again, but nothing came to fruition.…
Source
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