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Guthrie Votes for Paycheck Protection Program and Health Care Enhancement Act

WASHINGTON, D.C. – Congressman Brett Guthrie (KY-02) today voted in support of the Paycheck Protection Program and Health Care Enhancement Act.

The Paycheck Protection Program (PPP) was established in the CARES Act, which Guthrie voted for last month, to help small businesses continue to pay its employees during the coronavirus outbreak. This program ran out of the initial $349 billion in funding last week.

The PPP and Health Care Enhancement Act provides an additional $310 billion to fund the PPP, as well as $60 billion for the Small Business Administration’s (SBA) Economic Injury Disaster Loan program, $75 billion for hospitals and health care providers, and $25 billion to expand COVID-19 testing.

“The coronavirus pandemic has wreaked havoc on our health care system and on our economy,” said Guthrie. “Over the last several weeks, Kentucky businesses have had to close their doors. We created the PPP to help businesses keep paying their employees– and it’s working. In Kentucky alone, nearly 24,000 loans worth $4.1 billion have been approved, and the PPP and Health Care Enhancement Act will ensure that more Second District businesses can access this program. While expanding funding for small businesses, this legislation also provides additional funding for hospitals and health care providers, as well as increased testing capabilities. I voted in favor of legislation today and look forward to seeing President Trump sign it into law soon to deliver relief to Kentuckians.”

The Paycheck Protection Program is operated through the Small Business Administration’s 7(a) Loan Program for small employers, self-employed individuals, and “gig economy” workers. The program provides 8 weeks of cash-flow assistance through 100 percent federally guaranteed loans to small employers who maintain their payroll during this emergency. If the employer maintains payroll, the portion of the loans used for covered payroll costs, interest on mortgage obligations, rent, and utilities will be forgiven, which will help workers to remain employed, help affected small businesses complete payroll,  and help our economy to recover quickly from this crisis.