COVID-19: Republican leader calls for additional Paycheck Protection Program funding
WASHINGTON, D.C. – Republican leader Mitch McConnell released a statement announcing the need for additional funding for the Paycheck Protection Program (PPP).
The PPP is a $349 billion program for small businesses to cover payroll during the COVID-19 pandemic.
The program, which was launched Friday, has already resulted in hundreds of thousands of dollars for small business owners.
“Thanks to the hard work of small businesses and lenders, billions of dollars have already landed and tens of billions more are already in the pipeline. Jobs are literally being saved as we speak. But as Secretary Mnuchin has explained, Congress needs to quickly provide more funding or this crucial program will run dry.”
The U.S. Senate is planning to pass up to an additional $200-$250 billion additional funding for the program.
To view the full statement, click HERE.