This morning, Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer issued a joint statement absurdly claiming that Republicans were “posturing” on the issue of providing relief to Americans impacted by the coronavirus.
The fact of the matter is, the Democrats are the ones posturing. They are blocking additional funding for the Paycheck Protection Program (PPP) – which could run out as early as this week – and using it as leverage to demand more money for things that don’t require immediate funding right now.
Republicans are committed to supporting America’s small businesses and delivering them the needed relief to get through this unprecedented time. Nearly half of the $350 billion initially appropriated for the PPP has already been obligated to small businesses across the country. It is time to act and add more funding to this program so it does not run dry.
As a reminder, PPP:
- Was negotiated in a bipartisan and bicameral way, and has the support of both parties
- Has helped small businesses and saved an estimated 15 million jobs
- Could run out of funding by the end of the week
Bottom Line: America’s small businesses are hurting. They need the PPP to continue to pay their bills and make payroll. Democrats need to end their partisan grandstanding right now and stop using the urgency of this crisis as leverage to pass unrelated items.