Washington, D.C. – America’s 30 million small businesses employ nearly half of our nation’s private-sector workforce. As Americans stay home to slow the spread of Coronavirus, many of these small companies have been forced to temporarily shut down or cut back on work.
Within the next 24 hours, President Donald Trump will be sending more help their way.
After unnecessary delay from Speaker Nancy Pelosi and House Democrats, Congress is finally replenishing President Donald Trump’s Paycheck Protection Program (PPP).
Operated by the Small Business Administration, the PPP ensures that employers can continue to pay workers and cover costs during the global COVID-19 Coronavirus outbreak.
The program proved essential for small businesses—so popular, in fact, that it ran through its funds in just 14 days. After pressure from President Trump, Congress reached a deal with the Administration to provide an additional $310 billion for the program, along with $75 billion for hospitals and $25 billion for testing.
More relief for America’s small businesses can’t wait a moment longer.
As story after story shows, these forgivable loans are the difference between survival and layoffs in communities across our country:
- “I have customers call me in tears,” one Utah community banker says.
- A fifth-generation family business in Pennsylvania can now survive and protect the jobs of its 35 workers.
- One Florida community bank went above and beyond to rescue a small company in need.
- A Minnesota construction owner says this aid “helps with the cash flow.”
- A Michigan bagel shop that survived the Great Depression and World War II was in trouble—but now can afford to keep its employees on payroll.
That’s just a snapshot of why this support matters.
Small businesses power the American economy. The Paycheck Protection Program should never have run out of money—President Trump asked Congress to refill it 16 days ago, before funds dried up. There was no excuse for Democrats to stall for more partisan pork while American families wondered when their next paycheck would come.
To the workers and small businesses who need this relief, President Donald Trump is fighting for you. Tomorrow, his signature will right the wrongs of politicians who once again put their needs before your own.
President Donald Trump: Thanks to you, America will be ready to safely reopen soon