Conaway Applauds Senate Passage of Additional Paycheck Protection Program Funding

Statement

Tuesday, President Trump and Congressional leaders reached an agreement on additional COVID-19 relief funding to replenish the Small Business Administration's Paycheck Protection Program (PPP) fund, bolster the Economic Injury Disaster Loan (EIDL) program, and provide additional support for healthcare providers--including funds specifically for rural healthcare. Congressman Mike Conaway (TX-11) released a statement following Senate passage of the bill, the Paycheck Protection Program Increase Act of 2020:

"Small businesses in the 11th District of Texas and across the United States are relying on the Small Business Administration's Paycheck Protection Program (PPP) to keep their businesses afloat during these extremely trying times," said Rep. Mike Conaway. "During the first tranche of funding, the Paycheck Protection Program provided over 134,000 loans of nearly $28.5 billion directly to small businesses in Texas alone. Almost a week ago, funding for the PPP ran dry as Democrats held up passage of additional funding, choosing instead to hold our small businesses as bargaining chips for their ultra-liberal policies.

"However, I am pleased to see Republicans hold the line and put forth a bill that replenishes the PPP with $310 billion that will go directly to paychecks for our small business workers. This legislation also provides an additional $10 billion of funding for the EIDL program, and expands eligibility to include agriculture producers. Finally, this bill sends $825 million straight to rural healthcare providers that are struggling with the loss of routine care and elective surgery income.

"This legislation quite literally means the difference between small businesses and hospitals weathering the storm or closing their doors for good. I applaud the Senate's passage of the bill and urge a quick vote in the House."

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