Press Releases

Washington, DC – September 25, 2020....Congressman Steve Womack (AR-3) today announced his plans to sign a discharge petition to require a vote on a stand-alone extension of the Paycheck Protection Program (PPP) through the end of the year. The legislation, which he proudly cosponsored, will allow small businesses to access support and utilize leftover relief funds that are currently sitting idle after the PPP’s August 8th expiration.

Congressman Womack said, “Small businesses are job creators and the engine of our economy. The PPP provided Arkansas’s small businesses with resources at the start of the pandemic, and it makes sense to capitalize on leftover funds to accelerate recovery and help more businesses still facing hardship. People’s livelihoods are on the line, and every member should be signing this discharge petition. We are talking about support for Main Street – the corner coffee shop, your favorite restaurant, or the local hardware store.”

The bill (H.R. 8265) would make the more than $130 billion remaining in the current PPP reserve, which was originally authorized through the CARES Act, available through the end of the year, or until funds run out. It would allow qualifying small businesses to draw a second forgivable loan and add eligible covered expenses like costs related to property damage as a result of vandalism and looting and PPE for employees. It also sets aside $25 billion for small businesses with 10 or fewer employees and simplifies the forgiveness process.

The Paycheck Protection Program has delivered hundreds of billions of dollars in emergency loans, which are forgivable if the businesses keep a majority of staff on the payroll. Speaker Pelosi has held up PPP aid and refused to bring this stand-alone extension to the floor several times. Because of this, House Republicans are working to advance this discharge petition to force a vote on the bill. 218 members will have to sign the petition in order for legislation to be discharged for a vote on the House floor. Womack will officially sign the petition when he returns to Washington next week.

Congressman Steve Womack (AR-3) has represented Arkansas’s Third Congressional District since 2011. He serves as the Ranking Member of the House Committee on the Budget and is a member of the House Appropriations defense and transportation, housing and urban development subcommittees.

womack.house.gov

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