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Supporting the Paycheck Protection for Producers Act

Floor Speech

Date: July 23, 2020
Location: Washington, DC
Issues: Business and Consumers Agriculture and Food Government Budget and Spending

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Mr. THOMPSON of Pennsylvania. Madam Speaker, I rise today to share my support for H.R. 7175, the Paycheck Protection for Producers Act. I was pleased to cosponsor this legislation with Representatives Joyce, Kind, and Brindisi.

The bill is simple. It would expand access to the Paycheck Protection Program for farmers and ranchers, folks who are no strangers to economic hardship.

Many farmers and ranchers, particularly our dairy farmers, have been deemed ineligible to receive PPP loans due to negative net incomes. With this legislation, producers filing a schedule F will be allowed to use their gross income rather than their net income when calculating their PPP loans.

We owe these folks a great deal of gratitude for working around the clock through the COVID-19 pandemic to ensure the continuity of the food supply chain. The Paycheck Protection for Producers Act will allow these producers to be on an even footing with every other American small business, and I urge my colleagues to join us in supporting our farmers and our ranchers.

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