Ppp Extension Act of 2021

Floor Speech

BREAK IN TRANSCRIPT

Ms. TENNEY. Madam Speaker, I rise today to support H.R. 1799, the Paycheck Protection Program Extension Act of 2021.

This bipartisan legislation will extend the PPP application period, allowing the Small Business Administration more time to process loans. The PPP has been a vital tool for small businesses across the country and throughout New York's 22nd Congressional District.

Extending the application period will give small business owners the tools they need to continue paying their employees and keep their doors open, helping to reopen our economy even faster.

In my home State of New York, PPP has provided 140,000 loans, totaling $12 billion, and saved hundreds of thousands of jobs. PPP has been an effective, bipartisan COVID-19 relief program, and I am pleased to cosponsor this legislation. It will extend relief to small businesses that need it the most.

As a member of the House Small Business Committee, one of my top priorities in Congress is to deliver targeted relief to families and small businesses across New York's 22nd District. H.R. 1799 does just that. It will ensure that the remaining $120 billion in PPP funds under the CARES Act gets to the small businesses that desperately need it.

As we look to reopen our economy and get back to normal after a tremendously difficult year, particularly in my district, where over 94 percent of the jobs are created by small business owners, this will make all the difference.

I thank Chairwoman Velazquez, my friend from New York; Ranking Member Luetkemeyer; and everyone who is joining on this legislation. I appreciate your leadership. As a small business owner, I am grateful.

BREAK IN TRANSCRIPT

Source