Marshall: Congress Must Replenish the Paycheck Protection Program Now
SALINA - Treasury Secretary, Steven Mnuchin and Small Business Administrator, Jovita Carranza announced Thursday that the $349 billion in funding appropriated for the Paycheck Protection Program (PPP) in the CARES Act has been fully distributed to business owners.
The program can no longer accept additional small business loan applications until more funds are appropriated by Congress. Unfortunately, Democrats blocked an effort by Senate Republicans late last week to stave off this situation and replenish the funding. Congressman Roger Marshall, M.D., has been a strong supporter of the program, and joined his Republican colleagues in the call to appropriate more funding that would help Kansans who are struggling as a result of the COVID-19 crisis.
“This program has been a huge success for Kansas businesses and lenders,” said Rep. Marshall. “Kansas workers need pay checks, not unemployment and this program is helping do just that. Nancy Pelosi is holding Kansas workers and businesses hostage so she can grow the government.”
Lenders across Kansas have used the PPP to provide more than $3.7 billion in loans to 19,915 Kansas businesses. Business owners in need of assistance are now being left behind, putting them at risk of closing their doors for good.