Write a commentFollowing news today that the Small Business Administration (SBA) Paycheck Protection Program (PPP) is exhausted of funds and can no longer approve new loan applications, U.S. Rep. John Katko (NY-24) urged Congressional Leaders to come together to produce a bipartisan agreement:
“Since it was authorized under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Paycheck Protection Program (PPP) has been a critical support for local businesses and our regional economy Over 1 million loans have been distributed nationwide with nearly $12 billion in funds coming to New York State alone. Central New York local businesses are incredibly grateful for this support, and many have shared that, without it, they would be closing for good.
“As Members of Congress, it is incumbent upon us to seek bipartisan solutions to support our small business community during these unprecedented times. A lapse in funding for the PPP program is unacceptable. We must come together to reach a bipartisan agreement that authorizes additional Coronavirus relief funding, including funds to replenish the PPP. Business owners in Central New York and across the country are counting on PPP loans to maintain their payrolls and keep their doors open. Congress must put partisan politics aside to continue to address this public health crisis and move quickly to approve additional PPP funding to ensure small businesses who need assistance have access to these loans.”
Last month, Rep. Katko supported passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, bipartisan legislation that has provided critical relief to small, businesses, working families, hospitals, and frontline providers in Central New York.
