Sen. Peters Claims That Democrats' Hold-Up of PPP Funding Benefited Small Businesses

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Posted: Apr 24, 2020 7:15 PM
Sen. Peters Claims That Democrats' Hold-Up of PPP Funding Benefited Small Businesses

Source: AP Photo/Carlos Osorio

Michigan Senator Gary Peters (D-MI) weighed in on Congress’ passage of additional funding for the Small Business Administration’s Paycheck Protection Program (PPP), after President Trump signed the funding into law on Friday afternoon. 

Sen. Peters joined his Democratic colleagues in pushing for unrelated line-items to be included in the eventual funding bill:

Sen. Peters came to the defense of the delay tactics used by Senate Minority Leader Chuck Schumer (D-NY) and his Democratic colleagues in the upper chamber. Democrats held up the additional funding for PPP for weeks, even after the program ran out of funds completely, in an attempt to leverage their ideological demands that had nothing to do with giving relief to small businesses. The Michigan Democrat even went as far to claim that the Democrat-led hold-up of the additional funding, proposed by Senate Majority Leader Mitch McConnell (R-KY), actually benefited small businesses, per an interview with a Detroit NPR affiliate:

“You need to have this money distributed equitably, to small business all across the country,” says Peters. And while there has been some delay in getting this legislation approved, Peters adds that in the long run, that will result in more money in the hands of Michigan’s small business owners. ”We fought for, and got, a carve-out of money to make sure those banks in our underserved areas have money to help those businesses in those areas.”

Sen. Peters’a comments are not only false, but such characterization of holding PPP funding hostage also does a disservice to America’s small business owners and employees. The small business sector suffered the most economic distress from COVID-19 and the shut down of the economy, and Senate Democrats exacerbated that distress by blocking Leader McConnell’s clean bill to legislate $250 billion in additional funding to PPP for nearly two weeks. 

Sen. Peters is facing a tough re-election, with Republican John James rising in polls and fundraising, while Sen. Peters’s vulnerable race is bolstered by Sen. Schumer’s fundraising machine. Rather than rise above the partisan political games played by Senate Democrats, at the expense of America’s small business sector, Sen. Peters continues to be a rubber stamp for Senate Minority Leader Chuck Schumer, as he fights to keep his seat in the upper chamber.

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