Perry Joins Effort to Reopen Paycheck Protection Program, Expand Eligibility
U.S. Representative Scott Perry (PA-10) this week signed a discharge petition to force a vote on legislation to renew the Paycheck Protection Program (PPP) and provide small businesses and their employees access to critical financial assistance.
The PPP currently has $135 billion in available funding, but small businesses cannot access it simply because the program’s deadline has passed. Perry and his Republican colleagues initiated a common-sense proposal to reopen the PPP, and enable small businesses significantly impacted by the pandemic to receive a second round of assistance. Speaker Nancy Pelosi, however, has refused to bring H.R. 8265 up for a vote, once again prioritizing political games over the needs of the American People. Should the discharge petition garner 218 signatures in the House, it would force a floor vote on H.R. 8265.
“The Paycheck Protection Program has been a critical lifeline to small businesses and employees in South Central Pennsylvania,” said Congressman Scott Perry. “Despite a bipartisan desire to reopen the PPP for our Main Street businesses, Speaker Pelosi refuses to set aside her political goals to help American families and small businesses. The PPP has saved nearly 50 million jobs across our Nation, and supported over 75 percent of small business jobs in Pennsylvania’s Tenth Congressional District. I urge Speaker Pelosi to bring this legislation to a vote before Congress recesses ahead of the November elections.”
The PPP, established by the Perry-supported CARES Act passed in March, provided forgivable loans to small businesses to cover payroll costs, rent, mortgage payments, and utilities. If passed, H.R. 8265 would: make existing PPP funds available through December 2020; allow small businesses with fewer than 300 employees and a demonstrated reduction in gross revenues of at least 25 percent access to a second loan; expand PPP eligibility to include certain 501(c)(6) organizations with 300 or fewer employees; and expand the list of eligible expenses covered by the loan.