Political Quotes

“I rise to introduce the PPP Extension Act of 2021. I'm pleased to be joined in introducing this bill by my colleagues, Senators Cardin and Shaheen. Last March, the three of us, along with Senator Rubio, formed a Small Business Task Force that crafted the Paycheck Protection Program (PPP)--a forgivable loan program designed to help keep small employers afloat and their employees paid during the pandemic. The bipartisan bill that we are introducing today would simply extend the current application deadline for new PPP loans from March 31st to May 31st of this year, and then provide an additional 30-day period during which time the Small Business Administration may continue processing applications received prior to the new May 31st deadline. Representatives Velazquez, Luetkemeyer, Bourdeaux, and Kim (CA) have introduced a companion bill in the House. The PPP has been hugely successful in helping our Nation's small businesses and nonprofits survive the pandemic and continue paying their employees. In 2020, more than five million small employers received forgivable PPP loans, helping to sustain upwards of 50 million American jobs. This includes more than 28,000 Maine small businesses, who received nearly $2.3 billion in forgivable PPP loans.…”