Florida Senator Marco Rubio (R) took to Twitter to announce that he would be “releasing our proposal for a 2nd round of PPP loans to help small business pay workers and survive the pandemic.” He explained that “this second round is only for business with less than 300 employees & who have had at least a 50% loss of revenue.”
Sharing a video where he adds further information on the move forward with the second round of PPP loans, the Florida Senator expressed that this comes at a time when there have been skyrocketing cases of COVID-19 in the sunshine state, which have proven that lawmakers have to provide “more help for small businesses to survive.”
The first round of PPP loans were controversial in that many businesses argued it was difficult to apply for a loan, and this time around lawmakers are looking to ensure that businesses receive the help they need
Next Monday I will be releasing our proposal for a 2nd round of #PPP loans to help #smallbusiness pay workers & survive the pandemic. This second round is only for business with less than 300 employees & who have had at least a 50% loss of revenue.
— Marco Rubio (@marcorubio) July 23, 2020
Although the Florida Senator could not provide extensive information on the bipartisan effort, Rubio did express that “our goal… is to make sure that the second round is specifically targeted at smaller businesses and those that have been hurt the most by the pandemic.”