Peterson Statement on The Paycheck Protection Program and Health Care Enhancement Act

Washington DC – Representative Collin Peterson released the following statement after the House today approved the Paycheck Protection Program and Health Care Enhancement Act. Peterson supported the legislation.

“I share the frustrations of many Minnesotans that big businesses and deep pocketed institutions were able to get Small Business Administration loans while the program ran out of funds meant for struggling small businesses and their employees. The Paycheck Protection Program and Health Care Enhancement Act will extend credit to small businesses, expand access to agriculture producers, and also provide funds for rural hospitals and healthcare providers. More than 70 percent of people responding to my questionnaire think a greater national effort on testing for the Coronavirus is needed to stop the spread of this disease and get our country’s economy back on track and today’s bill provides an additional $25 billion to help do that.”

This latest COVID-19 relief bill includes key fixes and increased funding that benefit rural hospitals and small businesses:

• Provides $75 billion for our hospitals, which can be used to meet such needs as Personal Protective Equipment (PPE) for our brave health care workers.

• Makes improvements in the Paycheck Protection Program (PPP) by setting aside $60 billion within PPP to ensure access to this assistance for many small businesses in underserved rural and urban areas that have been unable to participate in the program so far.

• Strengthens the Paycheck Protection Program by providing $310 billion in additional funding.

• Expands small business support beyond the PPP program by securing $50 billion for SBA disaster lending, translating into more than $350 billion in loans, and $10 billion for SBA disaster grants.

• Provides $25 billion to expand COVID-19 testing, which is the key to reopening our economy and resuming our lives. Also requires the Administration to submit to Congress a federal COVID-19 strategic testing plan.