Jacobs calls for additional relief for small businesses hit by pandemic
Congressman Chris Jacobs (NY-27) delivered a floor speech today calling on Democratic House Leadership to immediately consider additional relief for small businesses.
Find a transcription of his speech below:
“I rise in support of extending the successful and bipartisan Paycheck Protection Program by making $138 billion in already appropriated funds available to help more businesses that are experiencing dire and desperate need.
"This week it was reported that almost 30 percent of small businesses in New York have closed for good due to the COVID-19 epidemic, and many more will face the same fate without further aid. $138 billion appropriated to the PPP is just sitting here in Washington, D.C., instead of helping our nation's small businesses.
For months we have asked the Speaker to allow a vote on H.R. 8265, which simply enables the SBA to do another round of grant awards -- getting this $138 billion out on the street before it's too late for many of these hard hit businesses. This legislation is targeted, addresses a dire need across the nation, and requires no additional federal funds.
"I urge the Speaker and her leadership to reconsider this tactic and allow this legislation to come to the floor for a vote. I'm confident it will receive bipartisan support. Thank you very much, I yield back.”
Background: H.R. 8265 – The Paycheck Protection Program Extension Act – would extend the application deadline for the Paycheck Protection Program, allowing for $138 billion in already appropriated funds to be made available to small businesses. The legislation was originally authored by Rep. Steve Chabot (R-OH).