On Wednesday, U.S. Sen. Marco Rubio, R-Fla., introduced a bill extending the deadline to apply for the Paycheck Protection Program (PPP) until the end of June
Rubio reeled in a dozen Republican co-sponsors for the bill which would also “prohibit the Small Business Administration (SBA) from setting priorities for processing the applications of some entities over others except for priorities reasonably necessary to carry out the set-asides created by Congress in the December 2020 COVID-19 relief bill.”
“The Paycheck Protection Program serves as a lifeline to millions of small businesses and the millions of individuals and families who rely on them to earn a living,” Rubio said. “PPP is critical to getting employees re-hired and small businesses re-opened. I urge my colleagues to swiftly pass this extension so that small businesses can receive the help they need to stay afloat.”
“The PPP has been a lifeline to millions of small businesses across the country, but many still need additional support to make it through to the other side of the pandemic,” said U.S. Sen. Susan Collins, R-Maine. “Earlier this year, we reopened the program to allow small businesses to apply for a PPP loan for the first time and allow the hardest-hit establishments to receive a second PPP loan. By extending the PPP deadline, our bill would give our nation’s small employers more time to access this critical relief.”
The bill was sent to the U.S. Small Business and Entrepreneurship Committee.
Reach Kevin Derby at [email protected].
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