Congressional Record, May 28, 2020 — House
Summary
Pages of the Congressional Record for the House dated May 28, 2020, beginning at page H2332. The pages close debate on H.R. 6782, the TRUTH Act, which would require the Small Business Administration to publish information on recipients of CARES Act grants and loans; Mr. Chabot states he cannot support it, and Ms. Jackson Lee submits a statement in support. On the motion by Ms. Velázquez to suspend the rules and pass H.R. 6782, Mr. Roy demands the yeas and nays and further proceedings are postponed. Ms. Velázquez then moves to suspend the rules and pass H.R. 7010, the Paycheck Protection Program Flexibility Act of 2020, whose text would replace June 30, 2020 with December 31, 2020 and end the covered period at the earlier of 24 weeks after origination or December 31, 2020. The pages close with a statement on the five-year minimum maturity for PPP loans and part of a vote tally.
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H2332 CONGRESSIONAL RECORD — HOUSE May 28, 2020
debating my bill, the TRUTH Act, b 1000 able in an online, searchable, sortable, and
which simply injects transparency and This data collection and trans- downloadable format within 30 days of pas-
accountability into the very largest ex- parency bill is a positive step in that sage:
penditure of taxpayer money in Amer- direction, providing much-needed 1. The identity of every recipient of a grant
ican history. transparency and accountability. or loan that was funded by the CARES Act or
That is it. There is no hidden agenda, Knowledge is power and, with this bill, the Payroll Protection Program and Health
just a straightforward requirement for the public will finally have the knowl- Care Enhancement Act;
the Small Business Administration to edge on how these programs have been 2. An explanation of the SBA’s decision-
publish information about how Federal implemented, where the money has making process;
relief dollars are flowing and where gone, who has gotten it and who hasn’t. 3. The number of employees at the entity in
they are going. And that truth should Not only will this empower the peo- question;
be important to every American: busi- ple, it will empower Congress as we 4. The date when the grant or loan was dis-
ness owners and patrons, bankers and continue working to optimize the bursed;
borrowers, Republicans and Democrats. CARES Act programs. 5. The identification number of the bank or
We cannot accept a situation in The bill also clarifies the program lender that administered the grant or loan; and
accounts for the Paycheck Protection 6. The amount of assistance provided to
which bigger businesses with access to
Program and the 7(a) Loan Program small businesses owned by socially and eco-
other sources of liquidity are pushing
are wholly distinct, ensuring that the nomically disadvantaged individuals, women,
to the front of the line at the expense
SBA’s flagship lending program will and veterans.
of those with the greatest need, par- Mr. Speaker, the COVID–19 pandemic has
ticularly minority-, women-, and vet- not shut down when the Paycheck Pro-
tection Program appropriation lapses. challenged us in ways we could have scarcely
eran-owned businesses that are strug- imagined; it has claimed lives and destroyed
gling the very most during the pan- As the small business economy be-
gins to recover in the coming weeks livelihoods all across our nation.
demic. We are in this together and we will come
I won’t accept it. and months, small businesses need to
be able to access affordable capital to out stronger and better.
I am on a mission to restore Ameri- And we do that by caring for each other and
rehire workers, restock their shelves,
cans’ faith in their government. But rendering equal, justice and fairness, whether
and resume operations. This language
trust is earned by action, not by words. it is in the area of coronavirus testing, distribu-
ensures the 7(a) program will be an op-
So I ask my colleagues to join me in tion of PPE, or economic assistance.
tion for them in the next phase of re-
supporting the TRUTH Act, in allowing Our small businesses need help and they
covery.
the American people to see where their I urge my colleagues to support this need the truth, which is why I urge my col-
money is going and in ensuring that measure, and I yield back the balance leagues to join me in voting to pass H.R.
businesses that need relief the most are of my time. 6782, the TRUTH Act.
getting it. Ms. JACKSON LEE. Mr. Speaker, I rise in The SPEAKER pro tempore. The
They say that sunlight is the best strong support of H.R. 6782, the Small Busi- question is on the motion offered by
disinfectant, and we could surely use ness Transparency and Reporting for the the gentlewoman from New York (Ms.
more of it here. Underbanked and Taxpayers at Home Act or VELÁZQUEZ) that the House suspend the
Mr. CHABOT. Mr. Speaker, I yield TRUTH Act, which directs the Small Business rules and pass the bill, H.R. 6782, as
myself the balance of my time. I want Administration (SBA) to explain and justify all amended.
to thank the gentlewoman from New disbursements of coronavirus relief funds, en- The question was taken.
York (Ms. VELÁZQUEZ) on her leader- suring transparency and accountability from The SPEAKER pro tempore. In the
ship, and I regret that we cannot sup- this critical agency. opinion of the Chair, two-thirds being
port this particular piece of legisla- Together, the CARES Act and the Payroll in the affirmative, the ayes have it.
tion; however, I am certain that we Protection Program and Health Care Enhance- Mr. ROY. Mr. Speaker, on that I de-
will continue to work together in a bi- ment Act together allocated more than $2 tril- mand the yeas and nays.
partisan manner to address the needs lion to address the devastating coronavirus The SPEAKER pro tempore. Pursu-
of America’s small businesses. pandemic, the most expensive relief package ant to section 3 of House Resolution
I would note, just in response, brief- ever authorized by Congress, and the largest 965, the yeas and nays are ordered.
ly, to the gentleman’s mention that outlay of taxpayer funds in all human history. Pursuant to clause 8 of rule XX, fur-
this is called the TRUTH Act, just be- The stakes simply are too high to allow irre- ther proceedings on this question are
cause something is called the TRUTH sponsible stewardship, and those charged with postponed.
Act doesn’t necessarily mean that it is disbursing coronavirus relief funds must be f
the truth, just like something called held to the highest standards and held to ac- PAYCHECK PROTECTION PROGRAM
the Affordable Care Act doesn’t nec- count for misfeasance or malfeasance. FLEXIBILITY ACT OF 2020
essarily mean it is going to make Mr. Speaker, it is wholly unacceptable that
the SBA has not to date provided full trans- Ms. VELÁZQUEZ. Mr. Speaker, I
healthcare more affordable. move to suspend the rules and pass the
Mr. Speaker, I yield back the balance parency over its administration of the Payroll
Protection Program (PPP) and Economic In- bill (H.R. 7010) to amend the Small
of my time. Business Act and the CARES Act to
jury Disaster Loan Program (EIDL).
Ms. VELÁZQUEZ. Mr. Speaker, I modify certain provisions related to
PPP and EIDL were created by Congress to
yield myself such time as I may con- the forgiveness of loans under the pay-
provide relief for small businesses affected by
sume. check protection program, to allow re-
the pandemic, and more than $700 billion has
Mr. Speaker, when this body spent been allocated in service of those goals. cipients of loan forgiveness under the
trillions of dollars to address the eco- However, in too many cases the programs paycheck protection program to defer
nomic downturn brought about by did not function as Congress intended, and payroll taxes, and for other purposes,
COVID–19, we included a special inspec- large organizations such as the Los Angeles as amended.
tor general to provide oversight over Lakers received funding while many of our The Clerk read the title of the bill.
the expenditure of these dollars. Unfor- smallest and most vulnerable businesses were The text of the bill is as follows:
tunately, President Trump said the unable to secure assistance. H.R. 7010
special IG could not issue reports to In light of this mismanagement, it is impera- Be it enacted by the Senate and House of Rep-
Congress without Presidential super- tive that SBA be subject to an exhaustive resentatives of the United States of America in
vision and subsequently removed the audit of its handling of PPP and EIDL funding. Congress assembled,
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acting IG at the Pentagon and chair- The agency has refused to do so voluntarily, SECTION 1. SHORT TITLE.
man of the panel. requiring Congress to mandate compliance This Act may be cited as the ‘‘Paycheck
So with the erosion of account- Protection Program Flexibility Act of 2020’’.
from the agency that exists to serve small
SEC. 2. MATURITY FOR LOANS WITH REMAINING
ability, transparency is needed more business, the backbone of the American econ- BALANCE AFTER APPLICATION OF
than ever. Congress needs to ensure omy. FORGIVENESS.
that there is no waste, fraud, or abuse The TRUTH Act would require the SBA to (a) IN GENERAL.—Section 7(a)(36)(K)(ii) of
of taxpayers’ dollars. make the following information publicly avail- the Small Business Act (15 U.S.C. 636(a)(36))
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May 28, 2020 CONGRESSIONAL RECORD — HOUSE H2333
is amended by inserting ‘‘minimum maturity a covered loan before the date of enactment Ms. VELÁZQUEZ. Mr. Speaker, I
of 5 years and a’’ before ‘‘maximum matu- of this subsection may elect for the covered yield myself such time as I may con-
rity’’. period applicable to such covered loan to end sume.
(b) EFFECTIVE DATE; APPLICABILITY.—The on the date that is 8 weeks after the date of
amendment made by this section shall take
I rise in support of the bipartisan bill
the origination of such covered loan.’’.
effect on the date of the enactment of this (c) EXTENSION OF DEFERRAL PERIOD.—Sec-
before us today, H.R. 7010, the Pay-
Act and shall apply to any loan made pursu- tion 7(a)(36)(M) of the Small Business Act (15 check Protection Program Flexibility
ant to section 7(a)(36) of the Small Business U.S.C. 636(a)(36)(M)) is amended— Act of 2020.
Act (15 U.S.C. 636(a)(36)) on or after such (1) in clause (ii)(II), by striking ‘‘for a pe- We all knew the rollout of the Pay-
date. Nothing in this Act, the CARES Act riod of not less than 6 months, including check Protection Program was going
(Public Law 116–136), or the Paycheck Pro- payment of principal, interest, and fees, and to be rocky, given the size of the pro-
tection Program and Health Care Enhance- not more than 1 year.’’ and inserting the fol- gram and the speed with which it was
ment Act (Public Law 116–139) shall be con- lowing: ‘‘, including payment of principal, in- stood up.
strued to prohibit lenders and borrowers terest, and fees, until the date on which the We are thankful for the staff at SBA
from mutually agreeing to modify the matu- amount of forgiveness determined under sec-
rity terms of a covered loan described in sub- for their hard work assisting small
tion 1106 of the CARES Act is remitted to
paragraph (K) of such section to conform businesses during this dire time. This
the lender.’’;
with requirements of this section. (2) in clause (iii), by striking ‘‘for a period is, undoubtedly, the most enormous
SEC. 3. AMENDMENTS TO PAYCHECK PROTEC- of not less than 6 months, including payment undertaking the agency has ever per-
TION PROGRAM LOAN FORGIVE- of principal, interest, and fees, and not more formed. They have done so under dif-
NESS.
than 1 year.’’ and inserting the following: ‘‘, ficult circumstances and remarkably
(a) EXTENSION OF COVERED PERIOD.—Sec-
tion 7(a)(36)(A)(iii) of the Small Business Act
including payment of principal, interest, and quickly.
(15 U.S.C. 636(a)(36)(A)(iii)) is amended by
fees, until the date on which the amount of With that said, my colleagues and I
forgiveness determined under section 1106 of have been hearing from Main Street
striking ‘‘June 30, 2020’’ and inserting ‘‘De-
the CARES Act is remitted to the lender.’’; small businesses that they need
cember 31, 2020’’.
(b) FORGIVENESS.—Section 1106 of the and changes to make the program work for
CARES Act (Public Law 116–136) is amend- (3) by adding at the end the following new
clause:
them.
ed— I think we can all agree the economic
(1) in subsection (a), by striking paragraph ‘‘(v) RULE OF CONSTRUCTION.—If an eligible
recipient fails to apply for forgiveness of a crisis brought on by COVID–19 has
(3) and inserting the following: proven more severe and drawn out than
‘‘(3) the term ‘covered period’ means, sub- covered loan within 10 months after the last
day of the covered period defined in section many anticipated. In some cases, State
ject to subsection (l), the period beginning
on the date of the origination of a covered 1106(a) of the CARES Act, such eligible re- and local governments have extended
loan and ending the earlier of— cipient shall make payments of principal, in- shutdowns and stay-at-home orders.
‘‘(A) the date that is 24 weeks after such terest, and fees on such covered loan begin- Many localities are only now allowing
date of origination; or ning on the day that is not earlier than the small businesses to reopen, very gradu-
date that is 10 months after the last day of
‘‘(B) December 31, 2020;’’; ally, in phases.
such covered period.’’.
(2) in subsection (d)—
(d) EFFECTIVE DATE; APPLICABILITY.—The
In other instances, small business
(A) in paragraph (5)(B), by striking ‘‘June owners have reported concerns that the
amendments made by this section shall be
30, 2020’’ each place it appears and inserting economy will not fully recover until
effective as if included in the CARES Act
‘‘December 31, 2020’’; and there is an affordable, widely acces-
(Public Law 116–136) and shall apply to any
(B) by adding at the end the following new
paragraphs:
loan made pursuant to section 7(a)(36) of the sible COVID–19 vaccine.
‘‘(7) EXEMPTION BASED ON EMPLOYEE AVAIL-
Small Business Act (15 U.S.C. 636(a)(36)) or Regardless, the extended nature of
section 1109 of the CARES Act. the economic downturn has made it
ABILITY.—During the period beginning on
SEC. 4. DELAY OF PAYMENT OF EMPLOYER PAY- necessary to enact certain legislative
February 15, 2020, and ending on December
ROLL TAXES.
31, 2020, the amount of loan forgiveness reforms to the program.
(a) IN GENERAL.—Section 2302(a) of the First, we need to give borrowers
under this section shall be determined with-
CARES Act (Public Law 116–136) is amended
out regard to a proportional reduction in the
by striking paragraph (3).
more than 8 weeks to use the funds in
number of full-time equivalent employees if order to qualify for loan forgiveness.
(b) EFFECTIVE DATE; APPLICABILITY.—The
an eligible recipient, in good faith— Borrowers who took out PPP loans
amendments made by this section shall be
‘‘(A) is able to document— early in the program are about to
effective as if included in the CARES Act
‘‘(i) an inability to rehire individuals who
were employees of the eligible recipient on
(Public Law 116–136) and shall apply to any reach the end of their 8-week period
loan made pursuant to section 7(a)(36) of the governing forgiveness. However, mil-
February 15, 2020; and
Small Business Act (15 U.S.C. 636(a)(36)) or lions of small businesses across the Na-
‘‘(ii) an inability to hire similarly qualified
section 1109 of the CARES Act.
employees for unfilled positions on or before tion are still facing forced closures.
SEC. 5. EMERGENCY DESIGNATION.
December 31, 2020; or Those that are reopening are re-
(a) IN GENERAL.—This Act is designated as
‘‘(B) is able to document an inability to re- quired to do so in an extremely limited
turn to the same level of business activity as an emergency requirement pursuant to sec-
tion 4(g) of the Statutory Pay-As-You-Go manner, with only outdoor dining or
such business was operating at before Feb- curbside-only pickup at retail stores.
ruary 15, 2020, due to compliance with re- Act of 2010 (2 U.S.C. 933(g)).
(b) DESIGNATION IN SENATE.—In the Senate, Those restrictions mean small busi-
quirements established or guidance issued by
the Secretary of Health and Human Services,
this Act is designated as an emergency re- nesses continue to have a tough road
quirement pursuant to section 4112(a) of H. ahead, and they need flexibility in how
the Director of the Centers for Disease Con-
Con. Res. 71 (115th Congress), the concurrent they use this emergency capital. This
trol and Prevention, or the Occupational
resolution on the budget for fiscal year 2018. provision will give them that.
Safety and Health Administration during the
period beginning on March 1, 2020, and end- The SPEAKER pro tempore. Pursu- The bill triples the current 8-week
ing December 31, 2020, related to the mainte- ant to the rule, the gentlewoman from period in which businesses must use
nance of standards for sanitation, social New York (Ms. VELÁZQUEZ) and the funds to be eligible for forgiveness to 24
distancing, or any other worker or customer gentleman from Ohio (Mr. CHABOT) weeks. That will help ensure businesses
safety requirement related to COVID–19. each will control 20 minutes. have more room to breathe, even in
‘‘(8) LIMITATION ON FORGIVENESS.—To re- The Chair recognizes the gentle-
ceive loan forgiveness under this section, an places where reopening of the economy
eligible recipient shall use at least 60 percent
woman from New York. happens more slowly.
of the covered loan amount for payroll costs, GENERAL LEAVE Second, we must extend the program
and may use up to 40 percent of such amount Ms. VELÁZQUEZ. Mr. Speaker, I ask through the end of the year. The unpre-
for any payment of interest on any covered unanimous consent that all Members dictable spread of the virus, shortage of
mortgage obligation (which shall not include may have 5 legislative days in which to widespread testing, and lack of a vac-
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any prepayment of or payment of principal revise and extend their remarks and in- cine mean that we do not know exactly
on a covered mortgage obligation), any pay- clude extraneous material on the meas- when the small business sector will
ment on any covered rent obligation, or any
ure under consideration. fully reopen and, when it does, how the
covered utility payment.’’; and
(3) by adding at the end the following new The SPEAKER pro tempore. Is there ‘‘new normal’’ will look.
subsection: objection to the request of the gentle- The bill addresses a challenge that
‘‘(l) APPLICATION TO CERTAIN ELIGIBLE RE- woman from New York? was created when the first set of guide-
CIPIENTS.—An eligible recipient that received There was no objection. lines were issued. We have heard you
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H2334 CONGRESSIONAL RECORD — HOUSE May 28, 2020
loud and clear. Today’s legislation days. That is why we are here today, to Fifth, the bill also codifies the rehire
strikes a balance between protecting fix some of the unintended con- flexibility provision. So as long as a
workers by guaranteeing loans are used sequences. good-faith offer to return to work is
for payroll, with the need to recognize For example, when we crafted the provided to a recently laid off worker,
that many independent restaurants original CARES Act back in March, the the business will satisfy the head count
face difficulty paying rent and utili- covered period was defined as 8 weeks. requirements.
ties. The true emergency period has evolved This safe harbor provision attempts
The new 60/40 ratio makes certain a over time. This bill begins to address to address the challenges many small
business can remain open, weather the that. businesses have had getting some em-
crisis, continue employing workers, To fix the miscalculation in how long ployees to return to work with the $600
and keep serving their local commu- this pandemic would last, this bill ex- Federal unemployment check per week
nities. Congress must revamp this pro- tends the 8-week original covered pe- on top of the State unemployment
gram to make it more accessible for riod to 24 weeks and creates an option checks which they are also receiving.
small employers to weather the uncer- allowing businesses that want to stay Finally, the bill establishes a new
tainty ahead. within the original 8-week window to safe harbor to account for businesses
We simply do not know if there will do so. This promotes greater flexibility that are required by civil authority to
be another wave of infections or addi- for small businesses to decide when it open only at 50 percent capacity. This
tional lockdowns. This bill provides is best to start spending their PPP ensures that businesses that have no
certainty to employers afraid to use loan. choice but to run at half capacity are
their loan proceeds or reluctant to It is important to remember that not left behind by their counterparts
apply to the program by providing this change isn’t as simple as moving a who have the ability to operate fully.
much-needed flexibility. few dates around. There are a lot of un- So it is a fairness issue.
I applaud my colleagues, Mr. PHIL- intended consequences that we need to Mr. Speaker, I urge my colleagues to
LIPS and Mr. ROY, for working together account for because more than 4 mil- support this much-needed bipartisan
in a bipartisan manner to craft com- lion loans have already gone through bill that provides real solutions to
monsense solutions for America’s small the program in the amount of half a American small businesses facing this
businesses. I thank Ranking Member trillion dollars. very difficult situation.
CHABOT for his assistance in crafting First, the original CARES Act allows b 1015
this bipartisan measure. principal, interest, and fees to be de- Mr. Speaker, I again want to thank
I urge all my colleagues to vote ferred for between 6 and 12 months. The the chairwoman for working on this on
‘‘yes,’’ and I reserve the balance of my administration adjusted this deferment a bipartisan basis.
time. period to just 6 months through guid- This flexibility allows America’s
Mr. CHABOT. Mr. Speaker, I yield ance. small businesses to go a long way to
myself such time as I may consume. This deferment time period needed to addressing many of the concerns that
Unlike the previous bill, I am happy be shifted to ensure a business knows we heard time and time again from
to say that I agree with the chair- its loan forgiveness amount before its small businesses all across the country.
woman, and I rise in strong support of deferment period concludes. This bill They need to have the flexibility to
H.R. 7010, the Paycheck Protection accomplishes that by extending the spend the money most efficiently so
Program Flexibility Act of 2020, as deferment window to end once the SBA that the businesses can actually stay
amended. makes the forgiveness payment to the afloat, make it through this pandemic,
I would, again, like to thank Chair- lender on the borrower’s behalf. and, most importantly, be able to keep
woman VELÁZQUEZ for conducting this Second, the bill amends the 75/25 rule as many of their employees on the pay-
process in such a bipartisan manner. It which was inserted into the PPP by the roll so that they are able to support
is more important than ever to main- administration through guidance to re- their families as possible.
tain our strong bilateral negotiations quire 75 percent of the loan to be used Mr. Speaker, I strongly urge my col-
as we continue to combat the spread of on payroll costs and 25 percent to be leagues to support this legislation on
COVID–19 and its devastating, abso- used on mortgage interest, rent, and both sides of the aisle, and I reserve
lutely devastating, effect on our econ- utilities. So that is what the previous the balance of my time.
omy, especially our small businesses in rule called for, 75/25. Ms. VELÁZQUEZ. Mr. Speaker, I
that economy. This bill replaced that with a 60/40 yield 4 minutes to the gentleman from
Over the past 3 months, I have been split to, again, give small businesses Minnesota (Mr. PHILLIPS).
in contact with literally thousands of greater flexibility as to how to best Mr. PHILLIPS. Mr. Speaker, I thank
small businesses, not only in my home- utilize their PPP funds. Representative VELÁZQUEZ; Ranking
town of Cincinnati, but across the Third, the bill extends the 2-year ma- Member CHABOT; my colleague, Mr.
country. I have joined dozens of con- turity of the loan to a 5-year maturity ROY from Texas, who has spent a lot of
ference calls with my congressional for new loans to help small businesses time in the political foxhole with me
colleagues and with their constituents struggling to make their payments in a from the very beginning of this initia-
and mine all the way from the State of weakened economy. Loans already tive; and all who have helped get the
Washington to the State of Florida, processed remain at the 2-year matu- Paycheck Protection Program Flexi-
and just about everywhere in between. rity rate so that there is no retro- bility Act to the floor.
There has been broad consensus dur- activity in this provision. But I want to spend my time today
ing those interactions that the PPP The bill makes clear that small busi- letting my constituents speak for
program has served as a lifeline for nesses and lenders are free to negotiate themselves. For more than 43 years,
small businesses and their employees, modifications in the maturity terms if Minnesotans have celebrated birthdays
many of whom have been shut down they both agree. Again, both have to and Little League wins over burgers
through no fault of their own. agree, both the borrower or the small and cheese curds at Lions Tap, a fam-
By and large, it would be hard to business and the lender. ily-owned restaurant in Eden Prairie,
argue against the fact that the PPP Fourth, the bill allows businesses Minnesota, until COVID–19 changed ev-
program has, for the most part, been that receive PPP loan forgiveness to erything. My team spoke with Bert,
successful. Over 4 million small busi- also receive their employer payroll tax owner of Lions Tap, and when we asked
nesses have received a PPP loan thus deferment. for feedback about his experience with
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far, allowing them to hang on as the And that was a big issue. Many of the the Payroll Protection Program, he
COVID–19 pandemic spread across our small businesses were concerned that said this: ‘‘We definitely need the PPP.
Nation. they were losing one of the advantages The problem is that because our busi-
Of course, there have been some that was in the original PPP program ness is a restaurant, we are not able to
shortcomings, some unintended con- in the CARES Act. So this is back in. open it up fully where we could hire
sequences. That will happen when you They will be able to take that business our entire staff back under the condi-
do 6 months of legislative work in 6 deduction from their taxes. tions of the loan. It is imperative that
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May 28, 2020 CONGRESSIONAL RECORD — HOUSE H2335
we are allowed forgiveness for expenses taurant employees. Or just take it talking about the barbershops, the hair
beyond the original 8-week period. We from Bert, the owner of Lions Tap, who salons, the live music venues, and the
also need to loosen up the restrictions said that the heartbeat of America is hotels that are struggling.
of nonpayroll expenses beyond the 25 small business, and we need your help I just talked to a hotel operator an
percent. The complexities of balancing to survive. hour ago, just before coming down here
staying open or closing will be deter- Mr. CHABOT. Mr. Speaker, I want to to the floor, who is struggling and said:
mined by what the government will be commend and thank the gentleman Look, I can’t make it 8 weeks. I can’t
able to change on the PPP in this bill.’’ from Texas (Mr. ROY) and the gen- stay alive. I don’t have enough heads
Bert is not alone. On a Zoom call last tleman from Minnesota (Mr. PHILLIPS) on the pillows. We are working toward
month, a barber who rents a chair in a for working together in a bipartisan reopening.
Brooklyn Park barber salon told me manner on this legislation. These are real businesses with real
exactly the same thing. I also talked Mr. Speaker, I yield 3 minutes to the employees and real lives tied up into
with Mike, who owns a few hotels in gentleman from Texas (Mr. ROY). this who are struggling.
Minnesota and is being forced to make Mr. ROY. Mr. Speaker, I thank the The thing is, the PPP program has
lose-lose decisions about how to pay chairwoman and the ranking member been a great success in getting $650 bil-
his employees and his mortgage while for their leadership. I really want to lion out the door in a matter of weeks
their rooms sit empty. give a strong statement of support and to help almost 4 million businesses, as
Mike said this: ‘‘The government thanks to my colleague, DEAN PHIL- has been noted on the floor, and that is
stepped in with the Paycheck Protec- LIPS, for the way in which our offices awesome. That is fantastic. We should
tion Program, but it was a one-size- have worked together and in which he be proud of that. But as we work to get
fits-all approach that didn’t really help and I have worked together on this. I America open again, we have to be
industries like hospitality. We could have nothing but positive things to say mindful of the fact that times are con-
pay our employees but not our mort- about him, and I look forward to work- tinuing to move on. These businesses
gages. The Paycheck Protection Flexi- ing on other measures to get, frankly, are struggling, and they can’t meet
bility Act will do for small businesses this body back to the work of the some of these restrictions and dead-
what the PPP could not.’’ American people and to make Congress lines.
John from Maple Grove, who owns a work again, to use a phrase that might I will note a little moment of par-
handful of beloved wood-fired pizza be interesting. But we need to make tisanship perhaps, in that I believe the
joints in Minnesota, is also feeling the Congress work again for the American unemployment insurance provision
heat from a lengthening crisis. He told people. that was adopted is actually the root of
me: ‘‘We are very appreciative of the This is a simple bill. It is a seven- the problem because you can’t pay peo-
PPP loan we received but would have page bill. We need more of that, more ple more not to work than to work and
no way to qualify for any material for- single-subject bills that we can wrap then expect businesses to go back and
giveness given the impossibility of re- our hands around and move through rehire people to meet the requirements
hiring our entire workforce while our the Chamber in ways that will impact we put in the bill to meet and hold peo-
stores are closed. If the loan is not for- American people’s lives without things ple in employment in the businesses.
given, we do not foresee our business being decided by a handful of people in We need to address that. I hope that as
returning to any meaningful positive back rooms that cost trillions of dol- a body we will not extend that when it
cash flow until a vaccine is developed lars and have 2,000 and 3,000 pages. expires in July. This is something I
or the virus impact weakens and would That is a statement, frankly, on both think is fundamentally important.
likely not have funds to repay any loan sides of the aisle. We need to find a way The SPEAKER pro tempore. The
principal in that time.’’ to work together, to have simple ap- time of the gentleman has expired.
Justin, who has a small gym in proaches to do the work of the Amer- Mr. CHABOT. Mr. Speaker, I yield
Chanhassen, and Ryan, who owns ican people. the gentleman from Texas an addi-
Frenchies nail salon, are reporting the This piece of legislation, in par- tional 30 seconds.
exact same problems. The outpouring ticular, is important to me because I Mr. ROY. Mr. Speaker, one thing I
of feedback has been as clear as it has represent about 2,300 restaurants and want to point out here is that the
been enormous. about 53,000 employees who work there ranking member and the chair have
Mr. Speaker, today is not about us. It in central Texas. It is the most in gone through the provisions in the bill.
is not about which side secures the big- Texas. It has to be pretty high up na- This is an important vote because we
gest win or who gets the credit. It is tionwide. Austin, Texas, and San Anto- have to do this to help small busi-
about delivering the relief that small nio, Texas, both have a great number nesses, but it is an important vote be-
business owners across Minnesota and of live music venues, as they are fa- cause I think it gets back to the heart
this Nation are asking for. It is about mously known, and my wife and I have of simple legislating and working to-
doing our job. availed ourselves of them over our gether to accomplish things.
At its core, representation begins lives. Let’s provide the flexibility for busi-
with listening, and these stories paint In fact, my courtship of my wife nesses. Let’s make sure that we let
a very clear picture. Our small business began in a lot of these places. Our first America open. But let’s work together
owners, the institutions of our Main date was at Stubb’s Bar-B-Q in Austin, to solve the problems of the American
Streets and the glue of our commu- Texas, a great institution for a Willie people together, like Mr. PHILLIPS and
nities, are asking us to take action to Nelson concert. We were at I did. I am proud to cosponsor this with
solve problems and to engage in some Threadgill’s for our rehearsal dinner in him.
good old-fashioned teamwork. South Austin, Texas, with live music. Mr. Speaker, I hope the Senate will
I am grateful to my colleague, Mr. I represent the Broken Spoke. I rep- take this up and move it expeditiously
CHIP ROY from Texas, for joining me in resent Luckenbach, Texas, if you re- so that we can help businesses this
that very spirit as the coauthor of this member the famous song. I represent a week. There is no reason to delay that.
bill and to the growing coalition of number of great restaurants in San An- Ms. VELÁZQUEZ. Mr. Speaker, I
support that we built around the Pay- tonio. The Cortez family has a bunch of would like to inquire of the Chair how
check Protection Flexibility Act. This restaurants in San Antonio. Many of much time is remaining on each side.
bill will help people in the ways that you, if you have been on the River The SPEAKER pro tempore. The gen-
they need, and we have not a moment Walk or have been in downtown San tlewoman from New York has 111⁄2 min-
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to lose. Antonio, would have experienced these utes remaining. The gentleman from
Mr. Speaker, if you don’t want to places. They are a part of the culture Ohio has 10 minutes remaining.
take my word for it, just listen to the of our lives, our fabric of what we do Ms. VELÁZQUEZ. Mr. Speaker, I
millions of our country’s shopkeepers, every day when we visit with our fami- yield 2 minutes to the gentleman from
innovators, entrepreneurs, and small lies and our communities. New Hampshire (Mr. PAPPAS).
business owners all around the coun- We need to save these great institu- Mr. PAPPAS. Mr. Speaker, I thank
try. Or listen to our 11 million res- tions and not just restaurants. I am the chairwoman for yielding.
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H2336 CONGRESSIONAL RECORD — HOUSE May 28, 2020
Mr. Speaker, while the Paycheck to the very bottom. We can’t let that Protection Program, in helping to per-
Protection Program has provided a happen, no way. fect this program that is an incredible
lifeline to small businesses, funda- The bipartisan Problem Solvers Cau- lifeline to small businesses and, impor-
mental changes must be made to meet cus endorsed this flexibility bill. It is tantly, Mr. Speaker, to the employees.
the ongoing needs of our Main Street one that we need to get done. I hope Millions and millions of businesses,
economy. that the Senate can take what we do billions of dollars in loans in a program
I am thankful to have heard from today and pass it before the end of the that didn’t even exist. Within 1 week,
hundreds of local business leaders in week. We need to provide that relief to they stood this program up, and within
my district who have helped identify our small businesses and the millions 2 weeks, Mr. Speaker, handed out more
critical shortcomings in the PPP. of employees that it impacts. money than the SBA had done over the
RoseAnn in Laconia tells us her res- Ms. VELÁZQUEZ. Mr. Speaker, I previous 14 years. It is absolutely re-
taurant’s sales are down 90 percent, yield 2 minutes to the gentleman from markable what Treasury and SBA have
and she needs more time than 8 weeks Colorado (Mr. NEGUSE). done with this program.
to ramp up safely. Mr. NEGUSE. Mr. Speaker, I rise And, as I said, the work that Mr. ROY
David from Portsmouth says his today in support of the bills before the and Mr. PHILLIPS have done to come to-
overhead costs are much higher than House. gether on a bipartisan basis to help to
the payroll at his new business, and he In Colorado, our small businesses are fix, to provide flexibility to businesses,
needs more flexibility in how he can struggling under these unprecedented to give them more time, to give them
spend down the loan. economic circumstances. From the more flexibility on the use of funds, to
Hillary from Goffstown won’t begin mom-and-pop taverns in Gilpin County ensure that these businesses aren’t just
to make up for lost sales in her wed- and Winter Park; the restaurants in open for 8 weeks but are truly sustain-
ding business until next year. A longer Loveland, Fort Collins, and Boulder; able businesses that can continue pro-
term will give her a more stable finan- Main Street businesses in Nederland viding employment to millions and
cial footing. and Breckenridge; and the many Colo- millions of Americans for years to
There are millions of stories like rado businesses that rely on outdoor come.
these across the country. recreation and ski season, in par- Now, Mr. Speaker, I want to pivot.
I want to thank my colleagues for The other legislation, the TRUTH Act,
ticular, they never could have planned
coming together on a bipartisan basis Mr. Speaker, looking at the compari-
for this pandemic. We cannot expect
to understand the need that is out son of numbers, here we are giving out
them to weather this crisis alone.
there and helping to meet it with this billions of dollars and millions of
The Payroll Protection Program has
comprehensive bill that is going to pro- loans, looking at the Economic Injury
provided critical funds to keep many of
vide a lifeline to our local businesses. Disaster Loan Program, the EIDL loan
these businesses afloat and workers
The fixes in this Paycheck Protection program. This program is a complete
employed. But as we have heard from
Flexibility Act will allow our small disaster itself. The program is not get-
both sides of the aisle today, many
businesses and their dedicated employ- ting money out the door. Whoever is
fixes are needed, and that is what we
ees to continue to survive. Let’s pass running this program needs to be re-
are here today to do.
this bipartisan bill today for our work- placed.
We must ensure that loan forgiveness Look at the statistics. They brought
ers, for our small businesses, and cer- periods are extended so that small in an outside contractor to do the ad-
tainly for our future. businesses are not on the hook for this vances. The advances are taking off,
Mr. CHABOT. Mr. Speaker, I yield 2 money while their doors remain shut. but the loans, themselves, are not. We
minutes to the gentleman from Michi- We must extend the program past June are not offering operating expenses and
gan (Mr. UPTON). 30 as so many of our businesses face in- other needed loans to these small busi-
Mr. UPTON. Mr. Speaker, I want to creased uncertainty and as our country nesses.
particularly thank Mr. PHILLIPS and faces uncertainty about what the fu- This bill doesn’t fix a single problem
Mr. ROY for working together on this ture holds in the coming months. We that is out there that is delaying, that
important legislation. must expand access and transparency is preventing this program from actu-
When the President signed the Pay- and prioritize our veteran-owned and ally providing operating expense assist-
check Protection Program nearly 2 economically disadvantaged busi- ance to these small businesses.
months ago, it provided a real lifeline nesses. Mr. Speaker, this bill is a complete
to our small businesses, without a At the end of the day, we must con- whiff. I urge that we pull back the
doubt. We have had some pretty rough tinue to support our local small busi- TRUTH Act. Rescind it. Let’s sit back
seas, a typhoon. But at the end of the nesses because they are the lifeblood of down again and work together on a bi-
day, after 8 weeks, Mr. Speaker, if you our communities, for the sake of our partisan basis, as we have done on this
were a small business and you allo- families, our local economies, and our bill, on the PPP Flex bill, and provide
cated 75 percent of the money that you future. true solutions to where the Economic
received as that loan for employees’ Mr. Speaker, I thank the chairwoman Injury Disaster Loan Program can help
salaries, healthcare, et cetera, that for her strong leadership over the these small businesses, can truly pro-
loan would become a grant; and the re- course of this pandemic and my fresh- vide a hand up.
sponse was overwhelming. A $250 bil- man colleague, Representative PHIL- Mr. Speaker, I urge rejection of that
lion program was exhausted after 10 LIPS, for his leadership in bringing this bill.
days. bill forward. I am proud to support it. Ms. VELÁZQUEZ. Mr. Speaker, I
After we came back and did another Let’s get this done for small businesses yield 1 minute to the gentleman from
job, we doubled down. We gave it an- in Colorado and across America. New Jersey (Mr. GOTTHEIMER).
other $310 billion on top of that. Unbe- Mr. GOTTHEIMER. Mr. Speaker, I
lievable. b 1030 thank the chairwoman for her excel-
As much as all of us wanted this Mr. CHABOT. Mr. Speaker, I yield 2 lent leadership. I thank Mr. ROY for his
nightmare to end by Easter, we are minutes to the gentleman from Lou- great bipartisan work and my dear
now past Memorial Day, and those isiana (Mr. GRAVES). friend, colleague, and fellow problem
small businesses are still not open. Mr. GRAVES of Louisiana. Mr. solver, DEAN PHILLIPS, for his remark-
Many of them are still shuttered, and Speaker, I thank the gentleman from able leadership on this important piece
they can’t possibly meet that 75 per- Ohio (Mr. CHABOT) for his hard work; of legislation. He did it the way he be-
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cent standard that their lender, their and I thank the chairwoman, as well, lieves we all should govern, and that is
community bank, or their credit union for working together in a bipartisan working across the aisle. I am grateful
offered them to be able to convert that manner. for what he did on the Paycheck Pro-
loan to a grant. But most importantly, I thank the tection Flexibility Act, which was sup-
So, without the changes in this bi- gentleman from Texas (Mr. ROY), my ported by the Problem Solvers Caucus,
partisan bill, that program instead will friend, for working together, for identi- 50 strong—25 Democrats and 25 Repub-
be an anchor that will take them down fying the problems with the Paycheck licans.
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May 28, 2020 CONGRESSIONAL RECORD — HOUSE H2337
Mr. Speaker, I have heard over and woman VELÁZQUEZ and the ranking ents—that many businesses have not
over again from businesses in my com- member, and I thank them for their been able to reopen or access the loans
munity in northern New Jersey that leadership. amidst many various State govern-
they are so grateful for the PPP Loan Ms. VELÁZQUEZ. Mr. Speaker, I ment-mandated shutdowns, so addi-
Forgiveness Program and all of the yield 1 minute to the gentlewoman tional time and flexibility to use the
jobs and businesses it helps protect. from Texas (Ms. JACKSON LEE). PPP funds will help them meet payroll
But they need more flexibility with the Ms. JACKSON LEE. Mr. Speaker, I and remain in operation as we safely
formula and timeframe. They need thank the chairwoman for her leader- and responsibly reopen our economy.
more time with the loan and more ship with the ranking member, Mr. Today’s Paycheck Protection Pro-
flexibility on how to spend it, from sal- PHILLIPS and Mr. ROY. gram Flexibility Act will enact effec-
aries to rent. Mr. Speaker, I stand in strong sup- tive reforms which were created with
Mr. Speaker, I am proud that this bi- port because 100,000 people are dead. input from small businesses. Again, I
partisan legislation does exactly that: Small businesses are living in the strongly commend the bill’s sponsors
helps the 131,000 small businesses in midst of those communities of devasta- for engaging in this way.
New Jersey that have been helped by tion, but they are trying to keep their Mr. Speaker, families are the heart of
the PPP Loan Forgiveness Program. doors open so they can help their fel- our communities. Small businesses are
And I am equally grateful for the bi- low citizens. the backbones of our economy. Our
partisan TRUTH Act, which demands I am grateful that we will allow an families and our small businesses, with
more transparency and accountability extended period of time, 24 weeks, for our support, will make it through this
for every single dollar that is loaned allowing for forgiveness. I am very crisis and drive the next great Amer-
out from the Small Business Adminis- grateful we have extended the date, for ican comeback.
tration to our businesses. I am glad extending the program to December 31, Mr. Speaker, I strongly urge a ‘‘yes’’
that that legislation will pass here and, of course, the payment, the loan vote on this very important bill.
later today and that we will know period to 5 years. Mr. CHABOT. Mr. Speaker, may I in-
where all the loans have gone. I know the mom-and-pop barbershops quire how much time is remaining.
Mr. Speaker, New Jersey’s economy, and cosmetology shops and nail shops The SPEAKER pro tempore. The gen-
including all of our small businesses, and restaurants; they are crying out to tleman from Ohio has 3 minutes re-
want to make sure their businesses can survive. Some of their very workers maining.
stay open at the end of this pandemic. have died. They are taking care of fam- Mr. CHABOT. Mr. Speaker, I yield
They want to keep their workers. They ilies. And so to ensure the full access myself such time as I may consume.
want to keep giving back to our com- to payroll tax deferment for business Mr. Speaker, I thank the gentle-
munities. They want to grow their tax, that takes PPP loans. woman from New York (Ms.
businesses and give back to our great In addition, I support the TRUTH Act VELÁZQUEZ) for her cooperation and
State. But they need our help. This bill because the money that we give must Mr. ROY and Mr. PHILLIPS, as well, for
does that, and I am hoping the Senate be used right, and transparency on who working together in a bipartisan man-
acts quickly to take it up. gets the loans is important. ner on this important legislation.
Mr. Speaker, this further relief for COVID–19, the coronavirus, has had a
Mr. CHABOT. Mr. Speaker, I yield 2
small businesses is well placed because tremendous impact, an adverse impact
minutes to the gentleman from Ten-
they are the anchor of the economy. on our Nation, particularly on our Na-
nessee (Mr. BURCHETT), a very impor-
I say to Houston small businesses:
tant member of the Committee on tion’s economy, particularly on Amer-
We are coming to help you. We will be
Small Business. ica’s small businesses. Many of them,
speaking to you this week.
Mr. BURCHETT. Mr. Speaker, I unfortunately, have had to shut down
Mr. Speaker, I support this bill, and
thank the gentleman for yielding. during this time.
we should move this forward as quickly
Mr. Speaker, I rise today to encour- When we originally passed the
as possible. They are the anchor of the
age my colleagues to vote in favor of CARES Act, which included the Pay-
economy of this Nation.
the H.R. 7010, the Paycheck Protection Mr. CHABOT. Mr. Speaker, I yield 2 check Protection Program—or now it
Program Flexibility Act. minutes to the gentleman from Penn- has become so popular, now it is PPP.
America’s economic recovery from sylvania (Mr. MEUSER). It is known by that by millions of
the coronavirus pandemic depends on Mr. MEUSER. Mr. Speaker, I thank small businesses all across the country.
getting individuals comfortable with the gentleman from Ohio very much. We didn’t know exactly how long the
safely going back to workplaces, shops, Mr. Speaker, the Paycheck Protec- pandemic would last. We still don’t
and restaurants. H.R. 7010 represents a tion Program, as we have been hearing, know, for that matter. So 8 weeks, for
continued commitment to providing has provided critical support to small example, was the period of time that
economic assistance to America’s businesses across the country during determined the payouts and whether
small businesses while our economy this crisis. the loan would be forgiven or not,
works towards this goal. The intent of the PPP was to prevent whether in fact it would be a grant,
Throughout east Tennessee, the Pay- layoffs, maintain certainty for work- whether these small businesses would
check Protection Program is ensuring ers, and help businesses weather the have to pay it back.
employers can pay their workers and challenges posed by the coronavirus As it turned out, 8 weeks, alone, isn’t
cover operating expenses. H.R. 7010 will pandemic. Thanks to President a sufficient period of time for many
allow greater flexibility for this relief Trump’s Treasury Department and small businesses. This legislation ex-
by extending the PPP loan forgiveness other leaders in this body, whom I tends that to 24 weeks, at the option of
period from 8 to 24 weeks, eliminating commend, the program’s results were the borrower. So this will allow many
duplicative program requirements, and in line with the program’s intent. small businesses all across the country
providing small businesses with addi- Thanks, as well, to the SBA and to see what benefits them the most so
tional time to pay back loans as they many community banks. Over 4.5 mil- they can survive, so they can keep
get back on their feet. lion small businesses have been ap- their employees employed so they can
Members of the Committee on Small proved for loans through the PPP, and support their families. So that is an
Business have a strong reputation of over $600 billion in loans have been important item that is in this legisla-
reaching across the aisle to work to- processed. tion.
gether, and I applaud the efforts of Mr. The PPP has administered over In addition, changing the 75/25 rule to
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ROY and Mr. PHILLIPS to craft clean 155,000 loans, totaling $25 billion in 60/40, again, is going to give these busi-
legislation that meets the needs of Pennsylvania alone. Nationwide, near- nesses the flexibility that they need.
small businesses. ly 65 percent of these loans have been How long do small businesses have to
Mr. Speaker, I am proud to support under $50,000—remarkable to see re- pay it back? Well, those who have al-
this bill that delivers results for Amer- sults of a bill in line with its intent. ready taken out the loans, 2 years. For
ica’s small businesses during this dif- However, we all do know—and we new loans taken out from here on—and
ficult time. It is great to see Chair- have been hearing from our constitu- there is over $100 billion left in the
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H2338 CONGRESSIONAL RECORD — HOUSE May 28, 2020
fund, so there will be many small busi- bipartisan manner. I always say, when continue to call for the minimum maturity on
nesses that still get loans—the period we deal with small business issues, Paycheck Protection Program loans to be ex-
will be 24 weeks. Now, by the time the there is no Democratic or Republican tended for all Paycheck Protection Program
Senate gets ahold of this, it is always approach. Those are American issues, borrowers.
possible that that may be com- particularly as they relate to our econ- The SPEAKER pro tempore. The
promised, but at this point, it is 24 omy. question is on the motion offered by
weeks in this particular piece of legis- Mr. Speaker, in that vein, I also the gentlewoman from New York (Ms.
lation. thank the gentleman from Texas (Mr. VELÁZQUEZ) that the House suspend the
But I think one of the important ROY) and the gentleman from Min- rules and pass the bill, H.R. 7010, as
things to remember is that the bor- nesota (Mr. PHILLIPS) for the great amended.
rower and the lender can get together work that they did and for the bipar- The question was taken.
and mutually agree, if they want to tisan spirit in which they brought this The SPEAKER pro tempore. In the
agree, if they don’t necessarily fall into bill to the floor. opinion of the Chair, two-thirds being
the two categories that I just men- Mr. Speaker, I strongly urge a vote in the affirmative, the ayes have it.
tioned. So there is some flexibility for in support of the legislation, and I Ms. VELÁZQUEZ. Mr. Speaker, on
them to negotiate there as well. And yield back the balance of my time. that I demand the yeas and nays.
there are other items, as we have al- Mr. NADLER. Mr. Speaker, I rise today in The SPEAKER pro tempore. Pursu-
ready discussed. support of this legislation to provide a critical ant to section 3 of House Resolution
But the important thing is this will source of aid to small businesses and non- 965, the yeas and nays are ordered.
give America’s small businesses the profits during the COVID–19 pandemic. While Pursuant to clause 8 of rule XX, fur-
flexibility to ensure that they at least the Paycheck Protection Program was estab- ther proceedings on this question will
have a chance to survive. And I know lished as an eight-week program, it was clear be postponed.
in my district in Cincinnati, and dis- from the start that the economic impact of the
pandemic would last far longer. I am proud f
tricts all over the country, their very
survival is at issue here. that the House addressed this issue by ex- b 1045
The PPP program—and it is a lot of panding the covered period to 24 weeks in the
money, as was mentioned: $350 billion Heroes Act earlier this month, and I am glad SMALL BUSINESS TRANSPARENCY
and another $310 billion, so around $660 this bill also includes a 24-week extension. AND REPORTING FOR THE
billion in this program going out all The extended timeline will give borrowers the UNDERBANKED AND TAXPAYERS
over the country to these small busi- flexibility to spread out the loan proceeds over AT HOME ACT
nesses that are the backbone of the the full course of the crisis, and in a manner The SPEAKER pro tempore. Pursu-
American economy. About half the that is best for their small business or non- ant to clause 8 of rule XX, further pro-
people who work in America work for profit. ceedings will resume on the motion to
one of these small businesses. So this The legislation also takes action to change suspend the rules and pass the bill
will help them to survive. the harmful ‘‘75/25’’ percent rule that the Small (H.R. 6782) to require the Adminis-
Thank goodness the House of Rep- Business Administration established to limit trator of the Small Business Adminis-
resentatives was able to work together the use of Paycheck Protection Program loan tration to submit a report on recipi-
in a bipartisan manner to come to this proceeds for nonpayroll expenses to 25 per- ents of assistance under the paycheck
point today where this legislation will cent. While increasing the current limitation on protection program and the economic
likely pass in a few minutes. the use of loan proceeds for nonpayroll ex- injury disaster loan program, and for
Mr. Speaker, I again thank the chair- penses from 25 percent to 40 percent will other purposes, as amended, on which
woman, and I yield back the balance of allow many small businesses to apply for the the yeas and nays were ordered.
my time. program, I am disappointed that this legislation The Clerk read the title of the bill.
Ms. VELÁZQUEZ. Mr. Speaker, I falls short of the Heroes Act and fails to elimi- The SPEAKER pro tempore. The
yield myself such time as I may con- nate the rule. Congress intended for the Pay- question is on the motion offered by
sume. check Protection Program to be a critical re- the gentlewoman from New York (Ms.
Mr. Speaker, I continuously hear source for all small businesses impacted by VELÁZQUEZ) that the House suspend the
from small businesses across the coun- the pandemic. We must make sure that the rules and pass the bill, as amended.
try about the uncertainty they are fac- program will be there and workable for micro- The vote was taken by electronic de-
ing and when they will be able to fully businesses in high rent areas like New York vice, and there were—yeas 269, nays
reopen. In the face of that uncertainty, City. Microbusinesses—such as ‘‘mom and 147, not voting 15, as follows:
small businesses need flexibility with pop’’ shops and corner stores—are the life- [Roll No. 113]
these loans. blood of our communities. I will continue work-
YEAS—269
This bill takes an important step in ing to ensure that the small business assist-
Adams Castro (TX) Demings
providing that flexibility and making ance programs created in the CARES Act are Aguilar Chu, Judy DeSaulnier
the Paycheck Protection Program accessible and viable for the most vulnerable Allred Cicilline Deutch
work better for the millions of small small businesses. Axne Cisneros Diaz-Balart
businesses across the country that are I am also disappointed that this legislation Bacon Clark (MA) Dingell
Barragán Clarke (NY) Doggett
trying to weather this storm. And was amended to remove language to retro- Bass Clay Doyle, Michael
since we do not know how long this actively establish a five-year minimum maturity Beatty Cleaver F.
storm will last, we must ensure small on Paycheck Protection Program loans for Bera Clyburn Engel
amounts not forgiven. While the CARES Act Beyer Cohen Escobar
businesses are able to take advantage Bishop (GA) Connolly Eshoo
of the program through the end of the allowed a maximum maturity of up to ten Blumenauer Cooper Espaillat
calendar year and to use the loan over years from when the borrower applied for the Blunt Rochester Correa Evans
the course of 24 weeks. This program is loan, the Small Business Administration limited Bonamici Costa Finkenauer
Boyle, Brendan Courtney Fitzpatrick
now a stronger onramp to full employ- the minimum maturity of the loans to two F. Cox (CA) Fletcher
ment for small employers to weather years just hours before financial institutions Brindisi Craig Fortenberry
this unprecedented economic and pub- began accepting Paycheck Protection Pro- Brooks (AL) Crenshaw Foster
gram loans. To address this issue, the Heroes Brown (MD) Crist Frankel
lic health crisis. Brownley (CA) Crow Fudge
I commend the Committee on Small Act established a minimum maturity on PPP Burchett Cuellar Gabbard
Business staff on both sides of the aisle loans of five years to enable borrowers to am- Bustos Cunningham Gaetz
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for their dedication and hard work over ortize loans over a longer period of time, de- Butterfield Davids (KS) Gallagher
Calvert Davis (CA) Gallego
these last few months. I thank them creasing their monthly payments on any por- Carbajal Davis, Danny K. Garamendi
for their commitment to our Nation’s tion that is not forgiven. While this legislation Cárdenas Dean Garcı́a (IL)
small employers and their workers. also establishes a five-year minimum maturity Carson (IN) DeFazio Garcia (TX)
And I thank the ranking member, be- on Paycheck Protection Program loans, it fails Cartwright DeGette Golden
Case DeLauro Gomez
cause we have always, throughout the to make the change retroactive for the millions Casten (IL) DelBene Gonzalez (TX)
history of the committee, worked in a that have already received their loans. I will Castor (FL) Delgado Gottheimer
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