(Washington, D.C.) – Congressman Larry Bucshon, M.D. (IN-08) released the following statement in support the Paycheck Protection Program and Health Care Enhancement Act that provides nearly $500 billion for small businesses, healthcare providers, and expanded testing:
“The Paycheck Protection Program has been successful in helping Main Street businesses across the nation from shutting their doors forever. Across Indiana, more than 35,000 Hoosier businesses received nearly $7.5 million in relief funding to pay their employees and keep their businesses open during this health care crisis. Unfortunately, one week ago, funding ran out due to the popularity and success of the program. Instead of quickly passing additional funding for this program providing a lifeline to Main Street, Speaker Pelosi and Minority Leader Schumer decided to play politics and held this much needed funding hostage to further their own political agenda. This was a disgraceful decision in the face of a world pandemic and a health care and economic crisis that is endangering the American way of life. While this additional funding will provide a lifeline and save businesses and jobs across the country, there are too many businesses that have permanently closed their doors and too many hard-working Americans that have lost their job and are now wondering how they will provide for their families as a result of the unnecessary political gamesmanship of Washington Democrats.”
Background
Small Businesses
$310 billion for the Small Business Administration’s successful Paycheck Protection Program, which will allow the Trump Administration to continue providing forgivable loans to cover the cost of payroll and operating expenses for small businesses.
$60 billion for the Small Business Administration’s economic injury disaster loans and grants including:
$50 billion for economic injury disaster loans - each loan can be up to $2 million with interest rates not to exceed 4% and long-term repayment periods of up to 30 years; and
$10 billion for grants of up to $10,000 that do not have to be repaid. Additional funds are provided for the Small Business Administration to administer these programs.
Hospitals and Health Care Providers
$75 billion to support the heroes on the front lines of this crisis and our healthcare system, including additional funding to reimburse hospitals and healthcare providers for lost revenues and expenses related to the outbreak.
Testing
$25 billion to expand testing, which will provide information on where cases are occurring, and support continued efforts to reopen communities and reignite our record-breaking economy.
