Washington, DC (December 9, 2020) — According to news reports, momentum is building in Congress for a new economic relief package that would renew the Paycheck Protection Program (PPP) for small businesses. Last week, Job Creators Network (JCN) launched “Operation Mayday” – a multi-media, grassroots campaign to build support for PPP legislation.
Alfredo Ortiz, JCN President and CEO, released the following statement:
“Pending bipartisan compromise on extending vital PPP funds is a promising development for small businesses and all Americans. With Covid cases skyrocketing and a new wave of lockdowns shuttering businesses, Congress must immediately renew the PPP to keep America’s small businesses afloat. When the pandemic started, JCN worked closely with Administration and congressional leaders to set up the PPP and make it successful. When the program expired in August, Democrats refused to renew it – holding it hostage until after the election. Speaker Pelosi even admitted as such last week. That’s why JCN launched ‘Operation Mayday’ – to build grassroots support for PPP renewal and to make sure Congress passed it before the end of the year. Thanks to Leader McConnell, Chairman Rubio, and others, we are very close to achieving that goal. From JCN’s perspective, PPP renewal should consist of the following: First, allow small businesses to tap into the $130 billion that is already in the program. Second, allow small businesses to take out a second forgivable loan. Finally, stipulate that expenses associated with PPP loan forgiveness are tax-deductible as originally intended in the CARES Act. JCN will continue working closely with Congress to get the PPP renewed and to make sure that President Trump’s ‘V-shaped’ recovery doesn’t become a double-dip recession because of Democratic obstruction.”
To read JCN’s letter to Leader McConnell, Speaker Pelosi, Minority Leader McCarthy, and Minority Leader Schumer, please click here.
Last week, RealClearPolitics.com published Mr. Ortiz’s op-ed, Pass PPP as a Small-Business Bridge to Post-Vaccine Future. To read it, click here.