Washington, D.C. — Congressman Mike Conaway (TX-11) released the following statement after funding for the Paycheck Protection Program (PPP) ran out, “The Paycheck Protection Program (PPP), a pivotal component of the CARES Act, has been a critical lifeline for small businesses across the nation as they struggle to keep the lights on.
Approximately 88,000 Texas businesses have taken part in this program so far, and we’ve already saved an estimated 15 million jobs nationwide. However, we learned today that all funding for PPP has been exhausted, and no new loans will be offered unless Congress steps up an authorizes additional funds. Senate Democrats blocked these efforts to last week, and House Democrats are demanding their wish list of unrelated, ultra-liberal policies be included. Our small businesses don’t have time for these political games right now- it’s urgent that Congress comes together and pass additional PPP funding without delay.”