Paycheck Protection Program Helping Americans and Small Businesses but, Once Again, Pelosi Trying to Hold up Americans

Speaker of the House Nancy Pelosi, D-Calif., meets with reporters following escalation of tensions this week between the U.S. and Iran, Thursday, Jan. 9, 2020, on Capitol Hill in Washington. (AP Photo/J. Scott Applewhite)

One of the best things about the $2.2 trillion dollar virus relief bill was the $350 billion Paycheck Protection Program.

The Trump administration is providing salvation for tens of thousands of small businesses that have been shut down because of the virus restrictions. It offers forgivable loans for companies to be able to maintain their payroll, keep their employees and cover their overhead.

It’s saving a lot of jobs already.

In fact, it’s so successful but such a need, that they want to expand it with an additional $250 billion for the program.

You would think that Democrats would be all for this, right? Don’t they care about workers? At least, that’s what they claim, right?

Instead, once again, it appears that they’re willing to hold up money to Americans in order to try to get more of their agenda through.

Senate Majority Leader Mitch McConnell wanted to hold a voice vote for more money for the program, but Democrats intend to block it demanding more for other things. House Speaker Nancy Pelosi and Minority Leader Chuck Schumer say they’ll block a vote without another $250 billion in additional spending and new strings.

The Wall Street Journal editorial board blasted them for holding up money for Americans in their article, “Pelosi Holds Up Small Business.”

The hostage-takers are insisting that half of any additional PPP money be earmarked for “community-based financial institutions that serve farmers, family, women, minority and veteran-owned small businesses and nonprofits in rural, tribal, suburban and urban communities across our country.” That demand is as unworkable as it is unnecessary.

PPP money is already going to banks large and small, through a network that includes any existing Small Business Administration lender and any federally insured bank or credit union. The money is provided on a first-come, first-serve basis, which means farmers, women and minorities have the same opportunities as others. Any plan that seeks to allocate dollars on the basis of identity politics introduces bureaucratic interference and delay.

They’re also demanding more for hospitals and local governments, on top of what is already accounted for in the prior bill without even knowing if there is yet a need for it there, as there is for the small business loans, as the WSJ notes.

The program that urgently needs the money is PPP. Congress can clarify a few rules about lender liability and who is eligible for loans, but small businesses need the money. By our deadline the parties were still negotiating. If Democrats refuse a voice vote, Mr. McConnell should seek one and dare Democrats to take responsibility for denying funds to thousands of small businesses across America.

WSJ speaks for all of us in saying, “This is getting old.”

Terrible that, once again, just as with the prior bill, Democrats like House Speaker Nancy Pelosi are still playing games with American lives and holding people hostage for their agenda.