Paycheck Protection Program loans that did not convert into grants due to accidental errors on loan amounts made by small-business owners should be forgiven, Rep. Chrissy Houlahan said.
A Democratic congresswoman is urging the Small Business Administration to forgive Paycheck Protection Program loans that did not convert into grants due to accidental errors on loan amounts made by small-business owners.
Related: Up to three-quarters of the $800 billion in disbursed PPP funds flowed to business owners instead of workers, study finds “It’s an unexpected bill that’s hurting our smallest of small businesses, just as they’re trying to recover from a global pandemic,” she said. “These are businesses that used these funds for their intended purposes, for keeping workers on payroll, for keeping our customers safe and our main streets open.”
Sunny Glottman, a researcher at the nonprofit research firm Center for Responsible Lending, said at the press conference that “the confusing and chaotic rollout of PPP made errors inevitable” and that minority business owners have been disproportionately affected by the lack of good-faith error reform.
One recipient of a PPP loan, Amy Yassinger, said: “We have now become ping pong balls between Congress, the SBA and our banks, who have the capacity to fix this insurmountable debt for over 300,000 small businesses who employ millions of people.”
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
WATCH: Rep. Marjorie Taylor Greene’s helicopter hog hunt contestGeorgia Rep. Marjorie Taylor Greene is making liberals crazy again.
Weiterlesen »
Tom O'Halleran, candidate for new congressional district, shares legislative prioritiesRep. Tom O'Halleran is facing Republican challenger Eli Crane in Arizona's 2nd Congressional District.
Weiterlesen »
Biden not focusing on Wall Street means he's not focused on America's prosperity: Rep. Carlos GimenezRep. Carlos Gimenez, R-Fla., called out Biden for not focusing on the stock market selloff, arguing the president is not tied to the reality of how people retire.
Weiterlesen »
Biden calls out for late Rep. Jackie Walorski at White House hunger eventPresident Biden mistakenly called out for Indiana Rep. Jackie Walorski, who died in a car crash in August, at a White House event on fighting hunger.
Weiterlesen »
Gov. Hochul maintains lead over Rep. Lee Zeldin in latest Siena College PollGov. Hochul inched up one percentage point since August, with 54% of voters polled supporting her. She now leads in the downstate suburbs, after falling behind in August.
Weiterlesen »
Rep. Chip Roy blasts Democrats for handling of stock trading billEXCLUSIVE — Rep. Chip Roy (R-TX) is slamming the process whereby top Democrats crafted legislation aimed at preventing lawmakers from insider trading, arguing more member input should have been considered before the final version of the STOCK Act reforms were unveiled.
Weiterlesen »