​ To:  

Paycheck Protection Program

 

“It’s critical that we protect the economic health of our small businesses

and workers, as well as the physical health of all Americans.” 

 Health Care Enhancement Act 

                                              Thursday April 23, 2020    

Congressman Paul Cook (R-Apple Valley) expressed his support for House of Representatives Bill #266, the Paycheck Protection Program and Health Care Enhancement Act, which passed the House today with overwhelming bipartisan support. The Legislation passed the Senate on Tuesday, April 21, 2020 and President Trump is expected to sign the Bill into law.
      
HR 266 delivers continued critical funding to address the effects of the Coronavirus. It provides nearly $500 billion in additional funding to support small businesses and healthcare providers and for additional testing.

Specifically, the Bill replenishes emergency funding for the Paycheck Protection Program (PPP), which provides critical small business loans and grants. Funding for this program, recently depleted, allows businesses to keep workers on payroll during the quarantine. Secretary of the Treasury Steven Mnuchin estimated that the PPP has already saved more than 30 million American jobs.
       
In addition to funding for small businesses, this legislation also supports hospitals and healthcare workers by providing funds to reimburse hospitals and healthcare providers for lost revenues and expenses related to the Coronavirus. It also expands testing which will help identify areas where new cases are occurring.

Although, the Congressman was not present for the vote, he filed an entry for the Congressional Record, indicating his support for this legislation.

Representative Cook says, “The COVID-19 pandemic continues to wreak havoc on the lives of Americans. Small businesses are the backbone of our economy, and we need to provide the support necessary to keep them afloat. While we’re making progress in combatting the virus, it’s critical that we protect the economic health of our small businesses and workers, as well as the physical health of all Americans.”