Statement by Secretary Mnuchin on the Passage of the Paycheck Protection Program

Summary

Treasury Secretary Steven T. Mnuchin's statement of April 23, 2020 welcomes congressional passage of the Paycheck Protection Program and Health Care Enhancement Act, which provides additional funding for workers and small businesses affected by the coronavirus pandemic. Mnuchin thanks President Trump, Vice President Pence, Leader McConnell, Leader Schumer, Speaker Pelosi and Leader McCarthy for working on a bipartisan basis. Mnuchin says the PPP has assisted more than 1 million small businesses with fewer than 10 workers and is helping more than 30 million Americans, and that with the added funding tens of millions more are expected to receive relief.

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U.S. Department of the Treasury

Secretary Statements & Remarks

Statement by Secretary Steven T. Mnuchin on the Passage of the Paycheck Protection Program and Health Care Enhancement Act

April 23, 2020

WASHINGTON —U.S. Treasury Secretary Steven T. Mnuchin issued the following statement today following passage of the Paycheck Protection Program and Health Care Enhancement Act:

“I am pleased that Congress has passed the Paycheck Protection Program and Health Care Enhancement Act, which provides critical additional funding for American workers and small businesses affected by the coronavirus pandemic.

“I want to thank President Trump for his decisive leadership, and Vice President Pence for his outstanding work leading the White House Coronavirus Task Force. I also want to thank Leader McConnell, Leader Schumer, Speaker Pelosi, and Leader McCarthy for working with us on a bipartisan basis to ensure that the Paycheck Protection Program (PPP) is funded so that small businesses can keep hardworking Americans on the payroll.

“The PPP, implemented by our partners at the Small Business Administration, has provided assistance to more than 1 million small businesses with fewer than 10 workers. The Program is already helping more than 30 million Americans, and with this additional funding, we expect tens of millions more will be able to receive critical relief.

“The Trump administration remains fully committed to providing American small businesses and workers with the vital support they need to overcome this challenging time.”

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