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Thank you, @IvankaTrump.
Tonight, the Senate passed the Paycheck Protection Flexibility Act, which is the product of hard work in the both chambers from Republicans and Democrats.https://twitter.com/IvankaTrump/status/1268322513169367051 …
For months, I’ve heard from small business owners in Central Texas who have, for one reason or another, been unable to take loans provided under the Paycheck Protection Program.
From my conversations, as well as numerous visits with business owners, employees, and members of our #TX21 community, it became clear that changes were necessary to make the program work for many businesses.
I knew that Congress had to act quickly to provide flexibility to account for different business structures and operating expenses to make the program work. We were already watching our communities lose some of our favorite restaurants, shops, hotels, and Central Texas haunts.
We didn’t have much time to waste. I got started right away.
My staff and I began drafting legislation to ease up loan requirements and eliminate onerous restrictions to allow more businesses to obtain relief. We teamed up with my colleague, @RepDeanPhillips,...
...to get it done. Our hard work started gaining traction immediately. It won the support of a diverse coalition of in excess of 50 outside groups, as well as bipartisan support.
Last week, the Paycheck Protection Flexibility Act passed the House overwhelmingly 417-1. I was thrilled to see the bill pass the Senate this evening. I’d like to thank my colleagues in the House and Senate for working together to take swift, decisive action.
My bill will help our businesses stay afloat. It will help those that have been left on the outside looking in on the loan process. It will help make sure our workers have jobs to return to on the other side. It will help communities across Central Texas bridge the gap.
As Texas continues to reopen and we look forward to a full economic reopening, I’m excited for President Donald Trump to sign this legislation to get small businesses the relief they so badly need. Let’s get it done.
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