Political Quotes

“Madam President, our economy has taken a huge hit from the coronavirus, and we have a lot of work to do to recover. There are encouraging signs, and one of those has been the success of the Paycheck Protection Program. The pandemic has presented a particular challenge for small businesses that frequently have very limited cash reserves to draw on. That is why, thanks to the efforts of Senators Rubio, Collins, and others, Congress established the Paycheck Protection Program, which provides forgivable loans to small businesses to help them keep employees on their payroll during this crisis. So far, more than 4.5 million small businesses nationwide have received relief from this program, and the majority of the loans have gone to the smallest businesses. Nearly 3 million of the 4.5 million total loans have been at or under $50,000. In my home State of South Dakota, more than 21,000 businesses have benefited, including some of the many seasonal businesses that have a limited amount of time each year to make the money that they need to survive. I am very grateful to the thousands of bank and credit union employees around the Nation who processed these loans under challenging circumstances during the pandemic. All told, millions of small business jobs have been saved, and a lot of small businesses that might have gone under during the pandemic are hanging on thanks to this program.…”