Walberg Votes Yes as House Passes New Paycheck Protection Program

(April 23, 2020 7:04 PM) The U.S. House tonight passed the Paycheck Protection Program and Health Care Enhancement Act to replenish emergency relief funds for workers, small businesses, and health care providers. The bipartisan legislation includes $310 billion for the Paycheck Protection Program, $75 billion for hospitals, $60 billion for Economic Injury Disaster loans and grants, and $25 billion to expand COVID-19 testing. It now heads to President Trump’s desk to become law.

Congressman Tim Walberg issued the following statement after passage:

“In just a few weeks, the Paycheck Protection Program has provided significant assistance to thousands of small businesses in Michigan who are struggling,” said Walberg. “It is disappointing that funding lapsed in the first place, but it is critical we renew this program to help more workers keep their jobs and paychecks. President Trump has indicated he will to sign this legislation immediately, and in doing so, quickly re-open the application process for small businesses in our area.”

The Paycheck Protection Program was established under the Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide small businesses with forgivable loans to cover payroll and certain other expenses. As of April 16th, 43,438 Michigan small businesses have been approved for more than $10 billion in loans.