Jacobs Calls for Additional Support for Small Businesses

Congressman Chris Jacobs (NY-27) delivered a floor speech today calling on Democratic House Leadership to immediately consider additional relief for small businesses. Find a transcription of his speech below:

“I rise in support of extending the successful and bipartisan Paycheck Protection Program by making $138 billion in already appropriated funds available to help more businesses that are experiencing dire and desperate need. This week it was reported that almost 30% of small businesses in New York have closed for good due to the COVID-19 epidemic, and many more will face the same fate without further aid. $138 billion appropriated to the PPP is just sitting here in Washington, D.C., instead of helping our nation’s small businesses. For months we have asked the Speaker to allow a vote on H.R. 8265, which simply enables the SBA to do another round of grant awards – getting this $138 billion out on the street before it’s too late for many of these hard hit businesses. This legislation is targeted, addresses a dire need across the nation, and requires no additional federal funds. I urge the Speaker and her leadership to reconsider this tactic and allow this legislation to come to the floor for a vote. I’m confident it will receive bipartisan support. Thank you very much, I yield back.”

Background: H.R. 8265 – The Paycheck Protection Program Extension Act – would extend the application deadline for the Paycheck Protection Program, allowing for $138 billion in already appropriated funds to be made available to small businesses. The legislation was originally authored by Rep. Steve Chabot (R-OH).