WASHINGTON, D.C. —Reps. Dean Phillips (D-MN) and Chip Roy (R-TX) have released a diverse list of national and regional organizations supporting the passage of the Paycheck Protection Flexibility Act (PPFA). This bill will solve problems with the Paycheck Protection Program (PPP), a critical source of aid for small businesses during the coronavirus epidemic that has come under fire from critics in both parties.
Representative Dean Phillips:
“Representation begins with listening, and I am hearing from too many Minnesota small business owners who have received PPP loans but are afraid to use the money because of the inflexible, one size fits all rules – and others who are not applying for aid at all out of fear and confusion. It won’t matter how much money we appropriate if the distribution mechanisms are broken. Congress now has an opportunity to fix what’s broken and make this important relief program more accessible and useable to the small businesses that need it the most. I am encouraged by the bipartisan cooperation of my colleagues in the House and Senate, and look forward to working with them to push these reforms over the finish line without delay. Every day counts, and time cannot be wasted.”
Rep. Chip Roy:
“For the past two months, I’ve heard from business owners in Central Texas who want to keep their employees on the payroll, continue serving their communities, and — mostly — stay afloat until they are allowed to be fully back open for business. The Paycheck Protection Program (PPP) has helped many of them do just that, but I hear from far too many business owners that the program, as it stands, needs changes to make it work for them. I don’t want to see another local institution go out of business because Congress is more focused on politics than helping Americans who need it. Fortunately, this bipartisan bill puts Americans first and will ensure our favorite small business are around on the other side. I look forward to its passage with bipartisan support.”
The Paycheck Protection Program Flexibility Act will create more flexibility for small businesses by:
- Extending the expense forgiveness period from eight weeks to twenty-four weeks
- Reducing the 75 percent payroll ratio requirement
- Eliminating 2-year loan repayment restrictions for future borrowers
- Allowing payroll tax deferment for PPP recipients
- Extending the June 30 rehiring deadline
Select List of Organizations in Support of the Bipartisan Payroll Protection Program Flexibility Act
- Small Business Roundtable
- International Franchise Association (IFA)
- American Hotel and Lodging Association
- Asian American Hotel Owners Association
- Coalition of Franchisee Associations
- International Council of Shopping Centers
- International Food Service Distributors Association
- Hospitality Minnesota
- National Council of Chain Restaurants
- National Franchisee Association
- National LGBT Chamber of Commerce
- Mission Lenders Working Group
- National Retail Federation
- Page 30 Coalition
- Medical Alley Association
- Professional Beauty Association
- The Real Estate Roundtable
- US Black Chambers Inc.
- NFIB
- National Restaurant Association (plus all 50 state associations)
- U.S. Chamber of Commerce
- Community Reinvestment Fund, USA (CRF)
- US Travel Association
- Small Business Majority
- U.S. Hispanic Chamber of Commerce
- National Small Business Association
- National Association for the Self-Employed
- Small Business and Entrepreneurship Council
- Economic Innovation Group
- National Association of Development Companies (NADCO)
- National Association of Women Business Owners
- National Association of Wholesaler-Distributors
- Associated General Contractors of America
- National Lumber & Building Material Dealers Association
- National Association of Manufacturers
- Medical Group Management Association (MGMA)
- National Association of Federally Insured Credit Unions
- National Association of Theatre Owners
- Electronic Transactions Association
- Academy of General Dentistry
- National Independent Automobile Dealers Association
- American Dental Association
- Independent Restaurant Coalition
- American Society for Gastrointestinal Endoscopy
- American Hospital Association
- American Society of Plastic Surgeons
- Associated Builders and Contractors
- TechNet
- Opportunity Finance Network
- Association of Mature American Citizens
- American Council of Engineering Companies
- Marriott International
- National Association of Realtors
- Parity for Main Street Employers Coalition
- National Association of Professional Employer Organizations