SBA: Paycheck Protection Program Will Run Out of Money Wednesday if More Funding Is Not Passed

|
Posted: Apr 15, 2020 3:30 PM
SBA: Paycheck Protection Program Will Run Out of Money Wednesday if More Funding Is Not Passed

Source: Senate Television via AP

The United States Small Business Administration (SBA) told lawmakers that the newly rolled-out Paycheck Protection Program (PPP), which brings economic relief to small businesses suffering financially due to COVID-19, will run out of funds as early as Wednesday. 

The Senate originally legislated $350 billion to be delivered to small businesses, and Leader McConnell has pushed for more funding since last week. Senate Democrats blocked this effort; Senate Republicans proposed a clean bill to legislate $250 billion additional dollars to the vital program.

Speaker Pelosi and Minority Leader Schumer still blame the GOP for the delay of funding, despite the hold up orchestrated by Democrats:

Small businesses will suffer even more economic distress if more funding is not legislated, and if Democrats do not put their partisan politics aside for the sake of Americans in the small business sector.

Editor's Note: Want to support Townhall so we can keep telling the truth about China and the virus they unleashed on the world? Join Townhall VIP  and use the promo code WUHAN to get 25% off VIP membership!