Dear Neighbors,
Your feedback, stories, ideas, and criticisms help me better represent you as I continue to fight for your priorities in Washington. That is why I want to hear from you:
Small businesses are the economic engines of our communities, but I’m hearing from too many Minnesota entrepreneurs who have been left out in the cold. That is why I voted yesterday for the Paycheck Protection Program and Health Care Enhancement Act, which will provide $484 billion to replenish the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program for small businesses; deliver aid to hospitals; and invest in COVID-19 testing capacity – a necessary step before re-opening our economy. However, our work is far from over.
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| I am listening to workers and businesses across Minnesota, and I am sharing their stories and experiences with our nations leaders |
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The PPP bottleneck has been unacceptable, and I am working with my colleagues to improve these programs. I have urged the U.S. Department of Treasury and Small Business Administration (SBA) to allow businesses to have their loan origination date coincide with their re-opening date. This will help restaurants and retailers whose businesses are closed by mandated stay-at-home orders.
Additionally, I joined a bipartisan effort to urge the SBA and the Treasury to improve flexibility and cut red tape for small businesses seeking assistance and loan forgiveness through the PPP. I also led a bipartisan letter calling on the SBA to wave the “affiliation rule” and include start-ups so they can access economic relief. Finally, I introduced the New Business Preservation Act, to create a program at the Treasury Department that partners with states and invests in promising new businesses.
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| Without intentional oversight, controls, and transparency, relief will continue to go to those who need it least at the expense of those who need it the most |
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Congress must continue to cast aside partisan affiliations and pass relief for small businesses, families, and individuals without delay or excuses. I’ll continue to have your back, and I hope you’ll keep in touch:
- Join my Dial-In With Dean on Tuesday, April 28th at 6:15 pm by dialing 855-927-0897, or registering to receive a call here
- Send a thank you card to the COVID-19 heroes in our community
- Visit the small business resource page on my website for up-to-date information, answers to frequently asked questions, and links to resources
- If you feel you’ve been treated unfairly by a federal agency or you aren’t getting an answer about your benefits, we will do our best to get you a response
Keep the faith, and stay safe,
Dean Phillips
Member of Congress