Just two weeks after being stood up, funding for the Paycheck Protection Program (PPP)—a popular and necessary program for America’s struggling small businesses—ran out. While Republican efforts to replenish this fund have been stalled, financial institutions of all sizes are stepping up to ensure that as soon as Democrats stop playing political games, they are ready to rush critical… Read more »
Today, the top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), joined Kevin Cirilli on Bloomberg TV to discuss the urgent need for Congress to replenish Paycheck Protection Program funding—an essential lifeline for America’s small businesses—as well as President Trump’s guidance for reopening our economy.
… Read more »
Today, the top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), sent a letter to Speaker of the House, Nancy Pelosi, urging her to act now to protect small businesses and their employees by funding the Payroll Protection Program (PPP). Funding for this bipartisan program ran out yesterday after Democrats repeatedly blocked Republicans’ attempts to replenish… Read more »
The top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement applauding Republican Leader Kevin McCarthy’s decision to appoint Congressman French Hill (AR-2) to the Congressional Oversight Commission established in the CARES Act:
“French’s extensive experience as a banker and a thoughtful leader on the Financial Services Committee… Read more »
The Federal Reserve’s Paycheck Protection Program Liquidity Facility (PPPLF) is now up and running. The PPPLF will ensure lenders can continue to support small businesses and provide much-needed credit to keep Americans employed and businesses open. But the PPPLF is not a fix for the PPP funding that is expected to run out today. If Congressional Democrats continue to block efforts to… Read more »
The top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), released the following statement after being selected by President Trump to serve on the President’s Task Force on Reopening the Economy:
“When it’s safe to return to normal economic life, we need a plan to get America back to work and our economy going again. As a member of the Task Force on… Read more »
By Daniel Roberts | April 14, 2020
Ten days after the launch of the Trump administration’s Paycheck Protection Program (PPP) to provide relief to small businesses slammed by coronavirus, 74% of the allotted funds have been earmarked.
As of Tuesday at 1pm EST, the Small Business Administration (SBA) says 1.1 million loan… Read more »
Through the Paycheck Protection Program (PPP), critical relief is being rushed out the door to our small businesses across the country. Since the program began, more than 1 million loans have been approved totaling nearly $300 billion. This money is keeping hardworking Americans employed and small businesses ready to reopen when the time comes.
Here are just a few examples of the… Read more »
WASHINGTON – The top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), released the following statement on the need to immediately replenish Paycheck Protection Program (PPP) funding:
“It was clear, funding for the Paycheck Protection Program was going to run out quickly—after all, this is one of the most popular and necessary programs in the CARES Act.… Read more »
WASHINGTON – The top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), released the following statement in response to the announcement of a new Main Street lending facility to support businesses of all sizes impacted by the coronavirus (COVID-19):
“By setting up an emergency lending facility with the Federal Reserve, Treasury is using the Exchange… Read more »
