Like Causes?

Install the App
TRY NOW

house Bill H.R. 1799

Extending Small Businesses’ Application Period for Paycheck Protection Program Loans From March 31st to May 31st

Argument in favor

This bipartisan bill would extend the application and lending period for small businesses that are seeking forgivable loans under the Paycheck Protection Program beyond the fast-approaching deadline of March 31st to May 31st, ensuring those businesses can tap into unused funds to stay afloat.

jimK's Opinion
···
03/25/2021
Yes, this is warranted along with the focus on getting these funds to the smaller businesses that the PPP program was initially supposed to serve. Way too much of the PPP funds allocated earlier went to fairly large and fairly wealthy companies who already had access to banks and were able to get their cases in front of their known and friendly bankers quickly. The original allocations also seemed to find a lot of political targets, like the company that the trump’s campaign hired to track cell phone users or Jared Kushner’s real estate business. Finally, with a focus on using these funds as they were intended to be used, we can get real help to the small community businesses that were the original intended targets for this relief.
Like (29)
Follow
Share
Sharon's Opinion
···
03/25/2021
Off topic: Sen. Manchin didn’t want to raise minimum wage to $15. He opposes his party’s gun control legislation. He does support an infrastructure package to be funded at least in part by a tax increase on corporate America. Sen. Susan Collins reportedly said that “wouldn’t be well-received.” After all, the Republicans worked so hard to give corporate America and the wealthiest a tax cut in 2017. And it’s been so effective, too. For example, “Zoom reported earlier this month it made $672 million in its fiscal year ended January 31, up 3,200% from the $21 million it reported making during the previous fiscal year. At the same time, Zoom also told investors this month what it expects to pay in federal taxes on those profits. The answer? Nada.” https://www.cbsnews.com/news/zoom-no-federal-taxes-2020/
Like (12)
Follow
Share
FYMYGIRLS's Opinion
···
03/25/2021
BEST IDEA EVER!! WE GIVE SO MUCH TO BILLIONAIRES... WE NEED TO SUPPORT US!
Like (11)
Follow
Share

Argument opposed

Hundreds of billions of dollars have already been loaned out to small businesses under the Paycheck Protection Program, and while it has been a bipartisan success, it has to end sometime. Small businesses would be better served by their local governments continuing to reopen their economies.

NoHedges's Opinion
···
03/25/2021
I remain steadfast in my opposition to both the Democrats and Republicans push for more of the same trickle down economics that got us into this mess. Why should the American people support small businesses who have not only had access to trillions in stimulus, but have done everything possible to block attempts to ensure Americans are paid a $15 minimum wage🤬? Direct relief to the people via the social security administration, that is what needs to happen. Businesses have cut to the front of the line for far too long.
Like (6)
Follow
Share
B.R.'s Opinion
···
03/25/2021
Not sure that an extension is necessary. As I understand it, funds allocated for the PPP are still available not because of issues with processing, but because of lack of requests. The program served its purpose, but now that businesses are beginning to open, the need has decreased.
Like (6)
Follow
Share
Rentedmule's Opinion
···
03/25/2021
You mean we didn’t get enough relief from the last 1.9 trillion dollar “relief bill”?
Like (5)
Follow
Share
    Yes, this is warranted along with the focus on getting these funds to the smaller businesses that the PPP program was initially supposed to serve. Way too much of the PPP funds allocated earlier went to fairly large and fairly wealthy companies who already had access to banks and were able to get their cases in front of their known and friendly bankers quickly. The original allocations also seemed to find a lot of political targets, like the company that the trump’s campaign hired to track cell phone users or Jared Kushner’s real estate business. Finally, with a focus on using these funds as they were intended to be used, we can get real help to the small community businesses that were the original intended targets for this relief.
    Like (29)
    Follow
    Share
    I remain steadfast in my opposition to both the Democrats and Republicans push for more of the same trickle down economics that got us into this mess. Why should the American people support small businesses who have not only had access to trillions in stimulus, but have done everything possible to block attempts to ensure Americans are paid a $15 minimum wage🤬? Direct relief to the people via the social security administration, that is what needs to happen. Businesses have cut to the front of the line for far too long.
    Like (6)
    Follow
    Share
    Truly small business as defined by Healthcare.gov (1 to 50 employees) or US Census Bureau (less than 500 employees) needs support but not the Small Business Administration (SBA) definition that includes companies with thousands of employees making millions of dollars and with access to capital markets to raise funds (bonds, commercial paper, stock, etc). PPP has been McConnell’s slush fund lacking effective oversight for cronies & political contributors based on Small Business Administration (SBA) definition of a small business which really isn’t really small business (privately owned corporations, partnerships, or sole proprietorships that have fewer employees and/or less annual revenue than a regular-sized business or corporation) because the SBA definition includes businesses with: 1) 250 to 1,500 employee 2) $750,000 to $38.5M revenues US Census Bureau defines small business as less than 500 people. Healthcare.gov defines it as 1 to 50 people https://www.fundera.com/blog/sba-definition-of-small-business https://www.salesforce.com/solutions/small-business-solutions/resources/what-is-a-small-
    Like (20)
    Follow
    Share
    Off topic: Sen. Manchin didn’t want to raise minimum wage to $15. He opposes his party’s gun control legislation. He does support an infrastructure package to be funded at least in part by a tax increase on corporate America. Sen. Susan Collins reportedly said that “wouldn’t be well-received.” After all, the Republicans worked so hard to give corporate America and the wealthiest a tax cut in 2017. And it’s been so effective, too. For example, “Zoom reported earlier this month it made $672 million in its fiscal year ended January 31, up 3,200% from the $21 million it reported making during the previous fiscal year. At the same time, Zoom also told investors this month what it expects to pay in federal taxes on those profits. The answer? Nada.” https://www.cbsnews.com/news/zoom-no-federal-taxes-2020/
    Like (12)
    Follow
    Share
    BEST IDEA EVER!! WE GIVE SO MUCH TO BILLIONAIRES... WE NEED TO SUPPORT US!
    Like (11)
    Follow
    Share
    This isn't that long an extension while some small businesses try to get themselves back on their feet. A majority of Americans may not be vaccinated until at least May, and cases are on the rise again as new variants emerge and people start to abandon the CDC guidelines. We don't know that more small businesses won't suffer in the next few months, so let's continue that support a bit longer.
    Like (6)
    Follow
    Share
    It’s about time small business get a break, which helps their employees! Most small businesses don’t even know what to do to get the help or where!
    Like (6)
    Follow
    Share
    Not sure that an extension is necessary. As I understand it, funds allocated for the PPP are still available not because of issues with processing, but because of lack of requests. The program served its purpose, but now that businesses are beginning to open, the need has decreased.
    Like (6)
    Follow
    Share
    You mean we didn’t get enough relief from the last 1.9 trillion dollar “relief bill”?
    Like (5)
    Follow
    Share
    Totally agree, NoHedges! 😊❤️
    Like (5)
    Follow
    Share
    Open up the country! Between heard immunity and vaccines. We are at about baseline for covid. It will be around like the flu. The government is just using this as a power grab. Besides USA is beyond broke and are letting China completely own us.
    Like (4)
    Follow
    Share
    I know this sounds great, but it is a LOAN, and has to be paid back. People are not spending like normal times. They worry about their job and money to survive. Not to eat out or buy trivial items. Where is the infrastructure jobs? That would create spending. But a loan is a loan and if you are only 30% capacity you can not rehire all your workers. And if you do not repay your loan your lose your business.
    Like (4)
    Follow
    Share
    The best thing that can be done right now for ALL businesses is to leave them alone and not prevent them from opening as they see fit. Customers can make their own risk assessments about what businesses they wish to visit. That would be a win win. Businesses could get on with recovery, people could go back to work, and the government would not have to print as much money.
    Like (3)
    Follow
    Share
    The first round PPP went to politically connected businesses. The deadline should be extended and oversight should be thorough to make sure the money gets to the PEOPLE that it BELONGS TO.
    Like (3)
    Follow
    Share
    Dah, of course they need the help after the draconian lock downs killing their businessss
    Like (3)
    Follow
    Share
    Businesses need to reopen. Not collect checks from the tax payer. And People need to go back to work not get paid to stay home.
    Like (3)
    Follow
    Share
    Dear Senator Cruz, what a sad thing for you to vote against Small Business loan extensions. It’s as if wake up each morning wondering what you can do that day to hurt as many average Americans as you can. I shudder to think what a world created in your image would look like.
    Like (3)
    Follow
    Share
    Just allow the small businesses to open fully. To continue the PPP with small businesses being required to pay back may cause their total demise and cause the owners a great disadvantage. As Ronald Reagan said ‘when someone show up and says I’m from the government and I’m here to help then be very worried.’
    Like (3)
    Follow
    Share
    The best stimulus check is a real paycheck from a real job.
    Like (3)
    Follow
    Share
    Small businesses have vastly suffered the past year, and I support them getting the help that they need!
    Like (2)
    Follow
    Share
    MORE