U.S. Sen. John Thune (R-S.D.) today issued the following statement after the Senate unanimously approved critical funding for the Paycheck Protection Program (PPP), which was created by the bipartisan Coronavirus Aid, Relief, and Economic Security Act. This unprecedented program has been providing relief to American small businesses and workers who have been negatively affected by the coronavirus crisis. PPP, which reached its lending cap last week, must be replenished before additional small businesses are able to apply. If enacted, this legislation would, among other things, replenish PPP with approximately $300 billion in additional funding.
“After five days of uncertainty for America’s small businesses and their workers, I’m glad Democrats finally agreed to fund the critically important Paycheck Protection Program,” said Thune. “I wish so many businesses and workers didn’t need to use the Paycheck Protection Program, and I wish it hadn’t taken Democrats nearly a week after it ran out of money to put workers ahead of politics, but I’m glad the program is one step closer to reopening and helping more businesses stay afloat. I remain committed to doing all I can to ensure small businesses and their workers in South Dakota and throughout the country have the tools they need to weather this storm.”