Washington, D.C. U.S. Senator Marco Rubio (R-FL), Chairman of the Senate Committee on Small Business and Entrepreneurship, released the following statement after the Senate passed the Paycheck Protection Program Flexibility Act (H.R. 7010):
“I am glad Congress came together to provide much-needed flexibility for small business owners to use their PPP loans as our economy begins to re-open,” Chairman Rubio said. “I appreciate the Administration’s flexibility and commitment to address the bill’s inadvertent technical errors that could create unintended consequences for small businesses as they seek forgiveness.”
“If the Administration cannot address these issues, Congress will need to fix them through additional legislation, which will be made even more difficult given House Democrats’ decision to recess for the entire month,” Chairman Rubio continued. “The PPP is a pro-worker, bipartisan program that has been hugely successful in protecting 50 million employees and helping small business owners endure this crisis. I will continue to work with the Administration, and my colleagues, to ensure the PPP continues to benefit millions of small businesses and workers.”
The bill now heads to the President for signature.