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Replenish the Paycheck Protection Program

Statement

Date: April 16, 2020
Location: Washington, DC
Issues: Business and Consumers Employment and Affirmative Action

Today, the Paycheck Protection Program, a provision of the CARES Act, ran out of funds. On April 9th, Senate Majority Leader Mitch McConnel attempted to pass legislation that would provide $250 billion dollars of additional funding for the program, but his efforts were blocked by Senate Democrats. In Colorado, over 28,000 loans have been approved, totaling over $5.8 billion dollars and nationally more than 1,650,000 loans for over $339 billion dollars.
Congressman Lamborn issued the following statement:

"It is unconscionable that Democrats have let the Paycheck Protection Program run out of funds. The impact of the coronavirus on our economy and especially on our nation's small businesses, has been undeniable. The Paycheck Protection Program has played a vital role in keeping businesses in the Fifth Congressional District afloat during this crisis. I urge Speaker Pelosi, Senate Minority Leader Schumer, and Democrats to stop trying to implement their partisan agenda and replenish funding for the Paycheck Protection Program."


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