Senate Democrats have blocked the additional $250 billion in funding the Trump administration had requested for the Paycheck Protection Program (PPP), and House Democrats have already signaled that they would also block the funding supplement if certain conditions were not addressed and met.
Senator Marco Rubio (R), who chairs the Senate Committee on Small Business and Entrepreneurship, supports the additional funding for PPP and warns that the $350 billion allocated for the program would be running out in a matter of days if the supplemental funding was not approved.
Sen. Rubio hopes that as small businesses are the country continues to lay off their employees because the current pandemic that congressional Democrats will reconsider their move to block funding.
“While funds for other programs in the CARES Act have not even been disbursed, the demand for the Paycheck Protection Program remains incredibly high,” Chairman Rubio said. “We are seeing a rate of $3.5 billion an hour on a nearly $350 billion program. We have days, not weeks, until PPP runs out of money. Today’s unemployment numbers remind us that now is not the time for congressional horse trading or partisan politics. Small businesses are being forced to lay off employees and close their doors. I really hope my Democratic colleagues will reconsider their decision to block more money for PPP.”
House Democrats are currently working on a “Phase 4” funding measure.
During a recent Televideo conference call with reporters, Florida Rep. Mucarsel-Powell (D) said that the Democratic Caucus in the House has already started to hold conference calls with members to put together and finalize a fourth Coronavirus stimulus bill for President Trump to sign.
“ At a federal level, we already started having conferences calls with the Democratic caucus, we started on Monday because we are working on a fourth package,” said Mucarsel-Powell. “We don’t know when we are going to see the end of that curve. If people don’t follow very very strict guidelines, the virus is just going to continue to spread.”
Speaker Pelosi has suggested that she will block the funding bill if certain demands are not met.
“So we want to have certain considerations if we were to go forward with that,” said Pelosi