Political Quotes

“Mr. President, I rise today to introduce legislation to allow nonprofit critical access hospitals (as defined by the Centers for Medicare & Medicaid Services) that are undergoing Chapter 11 bankruptcy reorganizations to apply for forgivable loans under the Paycheck Protection Program, if they are otherwise eligible. The language of my bill, the ``PPP Critical Access Hospitals Act,'' mirrors language originally introduced by Rep. Golden that was included in the House-passed ``HEROES Act.'' While hospitals are not prohibited from participating in the PPP, those that have previously or are currently under bankruptcy protection have been unable to access PPP funds, due to an interpretation of underlying Small Business Administration 7(a) program rules. While I recognize the importance of protecting taxpayer investments in the SBA 7(a) program, the PPP program, which I coauthored along with Senators Rubio, Cardin, and Shaheen, is by design largely forgivable when used for eligible expenditures. The hospitals that would benefit from this bill are critical infrastructure in the COVID-19 response effort, and many have experienced substantial increases in expenses associated with preparing for and responding to the pandemic.…”