Political Quotes

“Mr. Speaker, I thank the gentleman from Ohio very much. Mr. Speaker, the Paycheck Protection Program, as we have been hearing, has provided critical support to small businesses across the country during this crisis. The intent of the PPP was to prevent layoffs, maintain certainty for workers, and help businesses weather the challenges posed by the coronavirus pandemic. Thanks to President Trump's Treasury Department and other leaders in this body, whom I commend, the program's results were in line with the program's intent. Thanks, as well, to the SBA and many community banks. Over 4.5 million small businesses have been approved for loans through the PPP, and over $600 billion in loans have been processed. The PPP has administered over 155,000 loans, totaling $25 billion in Pennsylvania alone. Nationwide, nearly 65 percent of these loans have been under $50,000--remarkable to see results of a bill in line with its intent. However, we all do know--and we have been hearing from our constituents--that many businesses have not been able to reopen or access the loans amidst many various State government-mandated shutdowns, so additional time and flexibility to use the PPP funds will help them meet payroll and remain in operation as we safely and responsibly reopen our economy. Today's Paycheck Protection Program Flexibility Act will enact effective reforms which were created with input from small businesses. Again, I strongly commend the bill's sponsors for engaging in this way.…”