US Senator Marco Rubio (R-FL) has championed his Paycheck Protection Program (PPP), and today Senator met with the NFIB state director and small business owners where his COVID relief project was praised for its success.
After COVID-19 wreaked havoc on the US economy, millions of people worried about the fate of their finances as local and state governments announced mass lockdowns around the country.
Sen. Rubio, who pioneered the (PPP), passed the program in a bipartisan fashion and has been credited with providing, "a means of defending American workers: an unprecedented system of fully refundable loans to small- and mid-sized businesses, so long as they keep their employees on payroll."
Doug Holtz-Eakin, former director of the nonpartisan Congressional Budget Office, claims the PPP has been “the single most effective fiscal policy ever undertaken by the United States Government.” Rubio, claims the program helped save approximately 55 million jobs, with an average business size of only 20 employees.
Today, Rubio is still seeing the effects of this legislation play out in the post-pandemic world. The US Senator tweeted this morning about the Paycheck Protection Program and how it has been received by small businesses.
Senator Rubio met with @NFIB State Director Bill Herrle and @nfib_fl #smallbiz owners to discuss the success of Sen. Rubio's #PaycheckProtectionProgram and the current challenges facing small businesses. pic.twitter.com/bczpmB73Hl
— Senator Rubio Press (@SenRubioPress) June 17, 2022
Unfortunately the program has attracted mass fraud with Americans across the country being arrested for submitting applications to the Paycheck Protection Program with people applying for multiple loans at a time, some totaling for multiple millions of dollars.
In Florida, the program appears to tell a different story. Senator Rubio was proud to flex a year ago that 430,000 businesses across Florida received forgivable PPP loans, and 3 million Floridians remain employed because of it.