Pappas Advocates for Strengthening the Payroll Protection Program for Granite State Small Businesses on the House Floor
House passes bill cosponsored by Pappas that makes urgently-needed improvements to PPP in 417-1 vote
Washington D.C. – Today Congressman Chris Pappas spoke on the House floor, calling on Congress to pass the bipartisan Paycheck Protection Program Flexibility Act, a bill he cosponsored which will make the Payroll Protection Program (PPP) more effective for Granite State small businesses.
After conversations with hundreds of New Hampshire small business owners, Congressman Pappas has advocated for tailoring PPP to better fit their needs. Previously, Pappas urged Speaker Nancy Pelosi and Republican Leader Kevin McCarthy to make these changes to the program in the next relief package, and also urged the Treasury to use its authority under current law to extend the maturity of new PPP loans.
Read the full remarks as written for delivery from Congressman Pappas's House floor speech below or watch the video here:
While the Paycheck Protection Program has provided a lifeline to small businesses, fundamental changes must be made to meet the long term needs of our Main Street economy.
My office has worked with hundreds of struggling local businesses during this pandemic, and I am thankful that small business leaders have helped identify critical shortcomings in the PPP.
RoseAnn in Laconia tells us her restaurant's sales are down 90%, and she needs more time than 8 weeks to ramp up safely.
David from Portsmouth says his overhead costs are much higher than the payroll at his new business, and he needs more flexibility in how he can spend down the loan.
Hillary from Goffstown won't begin to make up for lost sales in her wedding business until next year. A longer term will give her a more stable financial footing.
The fixes in the Paycheck Protection Flexibility Act will allow small businesses like these and their dedicated employees to continue to survive.
Let's pass these bills today and always prioritize those who make our economy tick: our workers and small businesses.
Thank you, I yield back