It’s been 47 days since the closure of the Payment Protection Program, preventing small businesses for applying for CARES Act funding. House Small Business Committee Ranking Member Steve Chabot has a piece of legislation that would re-open the PPP to start funneling that money to businesses in desperate need during the pandemic.
“Real people’s jobs continue to be in jeopardy through no fault of their own,” Chabot said on the House floor on Wednesday. “This is just unacceptable…This is unacceptable because small businesses play an outsized role in our economy.”
Nearly one out of every two people in this country are employed by small businesses, he explained. And small businesses create two out of every three new jobs.
“We have an option before us today – this very day – if we defeat today’s previous question we can move directly to my legislation to re-open the Paycheck Protection Program,” the