Rep. Arrington Echoes Calls for Immediate Paycheck Protection Program Extension
Washington, December 10, 2020
WASHINGTON – Today, Rep. Jodey Arrington (TX-19) joined Republican colleagues in calling on Democrat leadership to immediately pass commonsense small business relief by extending the Paycheck Protection Program.
“Small businesses are hanging on for dear life and Speaker Pelosi continues to use them as bargaining chips to push for far-left policies that have nothing to do with the COVID-19 pandemic and the challenges that face every day Americans.
“As of today, the Paycheck Protection Program has provided a lifeline for more than 50 million jobs and nearly 5 million small businesses. In Texas alone, 417,000 businesses have received a total of $41 billion worth of PPP loans.
“While Main-Street fights to save what they’ve built, brick by brick, Speaker Pelosi has blocked more than 40 attempts to reopen the loan program. Currently, $138 billion already appropriated dollars sits in a frozen account. All the while, Democrat leadership continues to block efforts to reopen the PPP, make second loans to qualifying businesses, and enhance the flexibility with which funds may be used.
“Small businesses are the backbone of the United States economy and the heartbeat of rural America. I stand proudly with my Republican colleagues in imploring Democrat leadership to stop denying hard working West Texans the support they need.”
In March, Rep. Arrington petitioned the Federal Reserve, Federal Deposit Insurance Corporation, Office of the Comptroller of Currency, Small Business Administration, and the Treasury Department for targeted lending and debt relief for community banks.
In April, Rep. Arrington, along with Rep. Adrian Smith, led a letter to the Treasury Department and Small Business Administration which resulted in updated guidelines allowing rural hospitals and health clinics to participate in the PPP.
Rep. Arrington has also helped lead efforts to streamline the loan forgiveness process, make expenses used with PPP loans tax deductible, prohibit Planned Parenthood from participation, as well other actions to activate and improve the program.