Tag: Rep. Phillips

Minnesota employers got $10.2 billion in emergency pandemic aid

132 employers in Minnesota, from private schools and law firms to restaurants, received at least $5 million.

From car dealers to construction companies, Minnesota employers hauled in $10.2 billion through the popular Paycheck Protection Program (PPP), ranking the state No. 15 in the U.S., according to data released Monday by the U.S. Small Business Administration.

The program, which is credited with lowering unemployment this spring, helped employers bring back more than 51 million jobs in the U.S. at a time when the economy was crashing. But many employers have been critical of the program, especially retailers and restaurant owners, who say the government essentially pressured them into rehiring furloughed workers at a time when they were still shut down and unable to generate much if any revenue.

Congress has now agreed to extend the program, which was due to expire on June 30, until Aug. 8 to allow business owners a chance to apply for more than $130 billion in remaining funds. Altogether, 4.9 million employers have received a total of $521 billion in relief through the program.

The loans are forgivable as long as employers spend at least 60% of the funds on payroll, down from 75% in the original bill. The formula was changed through bipartisan legislation co-sponsored by U.S. Rep. Dean Phillips, D-Minn. Continue reading.

Phillips Broadband Plan Passes In House Infrastructure Package As Pandemic Pushes Minnesota Students, Families, Businesses To Do More Online

Phillips hears from city leaders struggling to access broadband, moves plan to connect more communities

WASHINGTON, DC – Last week, Rep. Dean Phillips (MN-03) helped pass H.R. 2, the Moving Forward Act, aimed at rebuilding America’s infrastructure. The legislation includes an amendment authored by Phillips to help suburban communities access highspeed broadband as the ongoing COVID-19 pandemic pushes Minnesota schools, businesses, and consumers to do more online.

In frequent communication with Minnesota mayors and city administrators, Phillips learned that a lack of provider competition and a donut hole in federal broadband grants has left many communities in Minnesota’s Third District unable to access adequate broadband deployment. Smaller suburban cities and towns, such as Chaska, Chanhassen, and Medina, do not qualify for rural broadband grants, leaving local leaders few options to secure highspeed broadband for their residents. Continue reading “Phillips Broadband Plan Passes In House Infrastructure Package As Pandemic Pushes Minnesota Students, Families, Businesses To Do More Online”

Rep. Dean Phillips: In Honor of Juneteenth

Hi Neighbors,

I’m writing to let you know that my offices are closed today in observance of Juneteenth. My team and I are spending the day learning more about the history of racism in America, and reflecting on the role we play in creating a more equitable and just future for all Minnesotans – and we invite you to join us, read on to find out why…

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This Juneteenth, I’m dropping in to extend a thank you, an announcement, and an invitation. Click here to watch.
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Why June 19th?
Juneteenth commemorates the end of slavery in the United States, celebrates freedom, and highlights the ongoing fight for racial equality. Here’s the history of this important date in American history:
 Continue reading “Rep. Dean Phillips: In Honor of Juneteenth”

Phillips PPP Fix Becomes Law, Urgent Aid Now More Useful for Small Businesses

Forgivable PPP Loans Are Available for a Limited Time, Small Businesses Should Act Now to Access Relief

WASHINGTON, DC – On June 5, President Trump signed the Paycheck Protection Program Flexibility Act (H.R. 7010), authored by Reps. Dean Phillips (D-MN) and Chip Roy (R-TX), into law. The bipartisan legislation immediately makes Paycheck Protection Program (PPP) loans from the Small Business Administration (SBA) more accessible and useful for small businesses as millions around the country face economic uncertainty due to the coronavirus pandemic.

“When I heard from Minnesotans that hastily-designed, one-size-fits-all PPP rules weren’t working for their businesses, I knew Congress had to act quickly,” said Phillips. “Our corner stores and neighborhood restaurants are suffering – I listened to their stories, wrote thoughtful legislation, built a coalition, and am pleased that the Paycheck Protection Program Flexibility Act is now the law of the land. These are the changes our small business owners were asking for, and thanks to some meaningful teamwork, their futures are a little brighter.” Continue reading “Phillips PPP Fix Becomes Law, Urgent Aid Now More Useful for Small Businesses”

Legislation Makes PPP Spending More Flexible

Legislation Makes PPP Spending More Flexible

The Paycheck Protection Program Flexibility Act signed into law on June 5 eases some restrictions⁠—like the spending timeline and parameters⁠—but the adjustments don’t relieve the frustrations lenders and borrowers have expressed about the forgiveness application process.

The bipartisan legislation, introduced by Democratic Rep. Dean Phillips last month , has been eagerly anticipated by the hospitality industry, said Ben Wogsland, director of government relations for Hospitality Minnesota.

“This change is coming a little later than we would have liked for some people,” he said. “This is definitely going to help them in a big big way. It will make it so that more hospitality businesses are actually able to hit the metrics of the programs to be able to get the loans forgiven. That said, there’s open questions about how much more relief this industry may need to survive.” Continue reading.

Appreciative of Rep. Phillips’ work

To the editor:

It seems so long ago and yet just yesterday. Friday, March 13, kicked off an economic crisis that’s impacted nearly everyone in Minnesota and across the country.

States started imposing business restrictions and stay-at-home orders to slow the Covid-19 outbreak. The coronavirus has been brutal and deadly across all 50 states. That’s why I am thankful that Rep. Dean Phillips understands the situation facing small businesses in struggling to stay afloat and re-open in the face of adversity.

Thanks to Rep. Phillips’ leadership and authorship, the Paycheck Protection Program Flexibility Act passed Congress last week. Continue reading.

Senate unanimously passes Rep. Phillips small business loan bill

WASHINGTON, D.C. — Today, the United States Senate unanimously passed the Paycheck Protection Program Flexibility Act, authored by Rep. Dean Phillips (D-MN). The bill will head to President Trump’s desk, and if signed, will provide urgent reforms to the Paycheck Protection Program (PPP), a critical source of aid for small businesses during the coronavirus epidemic. The bill, co-authored by Rep. Chip Roy (R-TX), passed the House of Representatives last week by a margin of 417-1.

“At its core, Representation begins with listening,” Dean Phillips said in a speech on the House floor. “Our small business owners, the institutions of our main streets and the glue of our communities, are asking us to take actions to solve problems and engage in some good old fashioned teamwork … This bill will help people in the ways that they need, and we haven’t a moment to lose.”

The bipartisan Paycheck Protection Program Flexibility Act (H.R. 7010) was endorsed by a coalition of 55 organizations and will create more flexibility for small businesses by: Continue reading “Senate unanimously passes Rep. Phillips small business loan bill”

Rep. Phillips Small Business PPP Flexibility Act Passes in Overwhelming Bipartisan Vote

WASHINGTON, D.C. — Today, the House of Representatives passed the Paycheck Protection Program Flexibility Act, authored by Rep. Dean Phillips (D-MN), in a strong bipartisan vote of 417-1. Phillips and co-author Rep. Chip Roy (R-TX) praised the passage of his bill, which will provide critical reforms to the Paycheck Protection Program (PPP), a critical source of aid for small businesses during the coronavirus epidemic.

“At its core, Representation begins with listening,” Dean Phillips said in a speech on the House floor.“Our small business owners, the institutions of our main streets and the glue of our communities, are asking us to take actions to solve problems and engage in some good old fashioned teamwork … This bill will help people in the ways that they need, and we haven’t a moment to lose.”

The bipartisan Paycheck Protection Program Flexibility Act (H.R. 7010) was endorsed by a coalition of 55 organizations and will create more flexibility for small businesses by: Continue reading “Rep. Phillips Small Business PPP Flexibility Act Passes in Overwhelming Bipartisan Vote”

House passes bill to grant flexibility for small business aid program

The Hill logoThe House on Thursday passed bipartisan legislation to provide struggling small businesses with more flexibility while using loans provided through the Paycheck Protection Program, in the latest effort by lawmakers to help limit the economic impact of the coronavirus pandemic.

The bill passed easily by a vote of 417-1.

The legislation, authored by Reps. Dean Phillips (D-Minn.) and Chip Roy (R-Texas), expands the terms of the loans from the Paycheck Protection Program, which was created by the $2.2 trillion coronavirus relief package that Congress and the Trump administration enacted in late March.

But lawmakers say that additional changes to the program are needed following complaints from small businesses that they’re not able to take advantage of the loans under the current terms. Restaurants and hair salons, for instance, largely still face coronavirus-imposed safety restrictions and aren’t in a position to rehire all their employees in the time currently required to qualify for loan forgiveness. Continue reading.

Reps. Phillips, Roy announce coalition of support behind the Paycheck Protection Flexibility Act

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.” Continue reading “Reps. Phillips, Roy announce coalition of support behind the Paycheck Protection Flexibility Act”