Palazzo: Paycheck Protection Program Funding Lapse Was Avoidable
Washington, April 16, 2020
Washington, DC - Congressman Steven Palazzo (MS-4), member of the House Appropriations Committee, issued the following statement in response to the Paycheck Protection Program (PPP) being halted due to a lapse in appropriations. The PPP was authorized in the Coronavirus Aid, Relief, and Economic Security (CARES) Act as a relief program to help America's small businesses during the economic crisis created by COVID-19. As of April 13, Mississippi had 14,209 loans approved, totaling $1,921,783,598 in economic assistance.
"This lapse in appropriations for the Paycheck Protection Program was completely avoidable. Democrats blatantly ignored the real needs of our small businesses last week when they chose to block this critical funding. In America, small businesses are the engine of our economy, supporting nearly 50 percent of jobs. It's past time for Democrats to stop their political show, and join Republicans in delivering relief for the American people."