Washington, DC – September 30, 2020....Congressman Steve Womack (AR-3) today announced that he officially signed a discharge petition to require a vote on H.R. 8265, 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 unspent relief funds that are left over after the PPP’s August 8th expiration:
Congressman Womack said, “The PPP has been a lifeline for small businesses, providing critical resources to keep their doors from permanently closing and saving millions of jobs across the United States. Extending the program to utilize already authorized funds that are currently sitting idle is commonsense. It should have been done months ago. Yet, Speaker Pelosi has obstructed the action in hopes of advancing her multi-trillion-dollar partisan wish list. This is a matter of helping small businesses stay afloat and ensuring employees have a paycheck to take home. I proudly signed this discharge petition to compel a vote to renew the PPP.”
H.R. 8265 will:
Make the more than $130 billion remaining in the current PPP reserve available through the end of the year or until funds run out;
Allow qualifying small businesses to draw a second forgivable loan;
Expand eligible covered expenses to include costs related to property damage as a result of vandalism and looting and PPE for employees;
Set aside $25 billion specifically for small businesses with 10 or fewer employees; and
Simplify the forgiveness process.
Womack officially signed the petition after voicing his support for the action last week. More than 43,000 PPP loans totaling nearly $3.3 billion have been dispersed in Arkansas alone. 218 members will have to sign the petition in order for the legislation to be discharged for a vote on the House floor.
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.
U.S. Congressman
Steve Womack
Serving the Third District of Arkansas