Political Quotes

“reserving the right to object to modifying the amendment, under my reservation, let me first thank the Senator from Florida. I agree with his concerns, and that is why we are looking at additional help for small businesses. The legislation that I filed with Senator Shaheen and Senator Coons includes a needs-based approach to the next round of PPP loans because we are going to need to do more. Secretary Mnuchin acknowledged that we are going to have to do more, but he also acknowledges that we can target that aid. The first round was aimed at getting money out quickly, and we could not have gotten money out quickly if we had underwriting standards that required the needs-based as in the Senator's amendment. So here is the dilemma that the Senator is offering. We are not looking at this PPP-2 program. This is the original program that we want to keep alive as we negotiate the next round. So if the Senator's amendment were adopted, you could have a bar owner in Maryland who has been closed, who has been able to get the PPP program, but now you have a bar owner in Florida who just recently got notice that they have to close and wants to apply for a PPP loan and is not going to be able to get it in a timely way because they are going to have to establish--maybe prospectively--the loss of revenue after guidelines are given, et cetera. That is not fair.…”