Tipton Votes to Pass Critical PPP Funds, Testifies Before Small Business Committee on Rural Hospital Access to the Program

Statement

The U.S. House of Representatives today passed the Paycheck Protection Program and Health Care Enhancement Act, to refill the recently depleted Paycheck Protection Program (PPP) and provide additional resources for hospitals, community health centers, and rural health clinics. Congressman Scott Tipton (CO-03) began pushing for additional funding for the PPP as soon as small business applications for funds began to exceed availability. Tipton supported the bill and provided the following statement after the House vote:

"PPP has already helped over 40,000 small businesses in Colorado, supplying over $7.3 billion in funds to keep Coloradans across the state employed and small business from permanently closing their doors. Replenishing the fund should not have taken this long, but I am glad Democratic Leadership finally agreed to prioritize workers and families and provide much needed relief to the small businesses that are currently in limbo. I will continue to fight for the needs of the people of Colorado's Third District."

Tipton also testified before the House Small Business Committee today during a hearing which non-committee members were given the opportunity to convey the feedback groups and businesses in their respective districts regarding the PPP. He spoke about the need for clarity from the Small Business Administration on a variety of issues related to the PPP, specifically rural hospital eligibility.

"I have heard from at least two rural hospitals in my district that were approved for PPP loans and received the funds, but who have subsequently been cautioned by their attorneys against using those funds in the event they are deemed ineligible for the PPP program. Rural hospitals operate on extremely thin margins, and the PPP would be a lifeline for many of them. Unfortunately, because there has been a lack of clear guidance from the SBA, and the interim funding package was silent on this issue, county and district-owned hospitals are in limbo," said Tipton. "We need clarity on this issue now, because we cannot afford for rural hospitals to close their doors in the midst of this pandemic."

The Paycheck Protection Program and Health Care Enhancement Act includes:

-$310 billion for the PPP
-41,635 Colorado businesses have already been approved for roughly $7.38 billion.
-$60 billion for Small Business Administration's economic injury disaster loans and grants
-$75 billion for hospitals and healthcare providers
-$25 billion to expand testing
-$825 million for Community Health Centers and rural health clinics

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