Florida Rep. Ross Spano (R) took to the Congressional floor in order to vote “yes” on providing addition funding to the “Paycheck Protection Program.”
As well, he participated in a House Small Business Committee hearing, dubbed the “Member Day Hearing on COVID-19 Response and Recovery,” which allowed lawmakers to provide feedback regarding the impact of PPP in their respective districts. They were also able to address concerns in relation to the funding of PPP that was directed to unintended individuals.
In a statement, Spano commented that “anyone who purposely took advantage of this program will have to answer to Congress.”
He added that “this funding is not only a matter of protecting American paychecks, it is about protecting the fabric of our community and protecting their livelihoods.”
In terms of PPP loans that may have been taken unnecessarily, the Small Business Administration and the U.S. Treasury announced that businesses should only ask for PPP loans if “economic uncertainty makes this loan request necessary.”
Moreover, if any business took out a loan unnecessarily, they have until May 7th, 2020 in order to return the loan without being hit with any penalties.