Extending the Authority for Commitments for the Paycheck Protection Program

Floor Speech

BREAK IN TRANSCRIPT

Mr. SCHUMER. Mr. President, let me salute Senator Cardin and Senator Shaheen for bringing this measure to the floor and forcing our colleagues on the other side of the aisle to relent, who, originally, of course, wanted to block this bill all day long. It is going to benefit two groups of people. The first, very simply, are those businesses whose businesses had gone bad in the last few months.

When this proposal was passed, plain and simple, the economy everyone thought, might get better sooner. It hasn't, and there are large numbers of businesses that are going to need to apply now. Had this program run out today, they would have been out of luck. Now, with this renewal, in short time, August 8, they at least get the chance to reapply.

But there is a second group. This program was rolled out very poorly by the administration. We all know that. We had to come back and fix it twice. There are many businesses in New York and elsewhere that applied initially and were rejected or that went to their bank and their banks said no because this program was not aimed at helping the smaller businesses by the administration, as they rolled it out.

The guidance that was supposed to be issued--and all the other things that happened--didn't happen. There are many businesses that were rejected the first time. I talked to many in New York in the last few weeks: Can I apply again? Now it has been straightened out because of the good work that Cardin and Shaheen and we Democrats did, forcing the Republicans to help small businesses.

They originally just wanted to renew the PP Program as is, and we said no. We said no, and we got a much better bill. These businesses can now apply again with the new guidelines that were passed in COVID 3.5, and that is a very good thing.

I would recommend to our small businesses that have been rejected to reapply because it might be available to you again.

Let me say, this shouldn't have happened. Our Republican colleagues have been missing in action on COVID-19 throughout--on small business, on unemployment insurance, on aid to localities, and on so many other issues. The only reason we are here tonight is that we Democrats said we are going to force you to come here with the unanimous consent statement.

Let us hope--there is always hope here--that this will repeat itself; that our Republican colleagues will see that sticking their heads in the ground, following Leader McConnell, who said that we will have to assess the situation--I guess tonight we are not assessing the situation, but thank God we are acting--that we will move forward on issue after issue after issue.

We have many more UCs this week. The need to pass those UCs is every bit as pressing as to move this UC. Maybe they will relent again, and maybe they will come back and say we need to negotiate.

Speaker Pelosi and I have asked Leader McConnell to sit down and negotiate now. No, no way, no negotiation.

We have had to push our Republican friends to help small business, to help the unemployed, to help those who rent, and so many other people, and to help States and localities. They didn't want to do any of it. But tonight might be a metaphor for what is going to happen in the future as we move to the Heroes Act. Our Republican friends, pressured by the very people in their own States, who desperately need help, will have to say yes, we agree with you.

But I have to say that this happened tonight not because of bipartisan action, as much as I would like to see bipartisan action in this body. It happened because Democrats said we are going to go to the floor and demand a UC. Until the last minute, our Republican friends said we are going to block it for one reason or another. Thank God they didn't. They deserve praise for not doing it. But let's make no mistake about it. This is not the end. This is the beginning. We have a lot more to do for small business and for many other parts of our economy and our healthcare system that are struggling and suffering. They need action. We need bipartisanship like we saw tonight in these areas as well.

I yield floor

BREAK IN TRANSCRIPT

Source