U.S. Sen. John Thune (R-S.D.) today issued the following statement on Senate Democrats’ refusal to help strengthen the Paycheck Protection Program, 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. The Paycheck Protection Program, which reached its lending cap this morning, will not be able to accept new applications until Congress appropriates additional funding, which the Senate attempted to do last week.
“I wish so many businesses and workers didn’t need to use the Paycheck Protection Program, but the fact that this unprecedented relief program ran out of funding this quickly shows that folks are relying on it, and my office has been hearing from constituents who are concerned about what this means for them and their businesses,” said Thune. “The upside to this situation is that there’s a very easy fix. Congress could simply appropriate additional funds, which would allow the Small Business Administration to reopen this program, which has strong bipartisan support. This is a simple choice, and I hope Democrats don’t force America’s small businesses and workers to endure more anxiety and uncertainty than they’re already dealing with during this crisis.”
Yesterday, Thune joined Fox News’ Bill Hemmer to discuss the urgent need to replenish these funds.