Today, Congressman Michael Guest (MS-03) signed a discharge petition to bring legislation that would provide an extension of the Paycheck Protection Program (PPP) to the floor of the House of Representatives for a vote. The discharge petition needs the signature of 20 Democrats to reach the floor of the House of Representatives if all 198 Republicans sign the document.
“I urge my colleagues across the aisle to place the well-being of the American people over politics,” Guest said. “The PPP has been a tremendous success in assisting small businesses during the COVID-19 pandemic. Almost 85 percent of small businesses across the nation received loans through the PPP, and the program supported more than 51 million jobs across the country. It’s shameful that Nancy Pelosi is putting small businesses across the nation at risk by obstructing the continuation of this program and preventing additional relief for existing PPP recipients.”
The Small Business Administration has been unable to accept additional applications to the PPP since the program’s closing on August 8th. The discharge petition would free up the $138 billion in Paycheck Protection Program funds that were unspent at the time of the expiration.
The discharge petition would essentially force a vote on H.R. 8265, the Paycheck Protection Program Extension Act.
H.R. 8265 would allow up to $138 billion in unspent Paycheck Protection Program funds to be used to help businesses in need. It would also allow certain businesses to take out a second loan while placing restrictions in the application process to ensure a targeted approach. The legislation would expand program eligibility to certain 501(c)(6) nonprofits and provide relief on the cumbersome PPP loan forgiveness process for existing PPP loan recipients.
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Release from Congressman Michael Guest.