Political Quotes

“reserving the right to object, I appreciate my colleague's desire to help small businesses. I really don't think there is a stronger advocate in support of small business in all of Congress. I think I have proved that with my work in tax reform, fighting for 95 percent of American businesses that are pass- through entities. I think my colleagues on the floor here today realize that what the House passed has one very significant flaw in it--probably a technical drafting error but a significant flaw--which says that if you don't spend 60 percent of the PPP loan on payroll, you get no forgiveness, which was a dramatic difference from what it was when you had 75 percent. I am in favor of all those changes. As Senator Shaheen pointed out, there are a lot of problems with PPP that need to be corrected. My only objection is, before we authorize this and put an authorization date all the way to December 31, we need to make sure those changes are made. So my only objection is we should not extend this authorization without significant reforms that I hope my colleagues would all agree with; for example, the fact that many businesses--again, I am not denying that PPP provided very swift funding to businesses that truly needed it. It was a real lifeline. It worked from that standpoint. But, in our case, we all knew that we had to do something massive, we had to do something quick, but we also knew it was going to be far from perfect.…”