Republican Leader Releases Statement on Additional Funding for PPP

Republican Leader Mitch McConnell released a statement announcing the need for additional funding for the Paycheck Protection Program (PPP). The PPP is a $349 billion program for small businesses to cover payroll during the COVID19 pandemic. The program launched on Friday and has already dolled out hundreds of thousands of dollars to small business owners.

Per Leader McConnell’s statement:

“Thanks to the hard work of small businesses and lenders, billions of dollars have already landed and tens of billions more are already in the pipeline. Jobs are literally being saved as we speak. But as Secretary Mnuchin has explained, Congress needs to quickly provide more funding or this crucial program will run dry.”

The U.S. Senate is planning to pass up to an additional $200-$250 billion additional funding for the program.

To view the full statement, click here.