June 05, 2020

Duckworth Statement on Senate Passage of Paycheck Protection Program Extension

 

[WASHINGTON, D.C.] – U.S. Senator Tammy Duckworth (D-IL), member of the Senate Small Business and Entrepreneurship Committee, released the following statement after the Senate unanimously passed a bipartisan bill to extend the Paycheck Protection Program (PPP), allowing borrowers 24 weeks instead of eight weeks to use their loans and greater flexibility in using the funds.

“Small businesses employ millions of Illinoisans and many of them are struggling to survive during the COVID-19 pandemic. I’m glad that the Senate acted in a bipartisan way to give small business owners more flexibility in using loan funds so they can keep their doors open and employees on the payroll.”

Since the beginning of the COVID-19 public health crisis, Senator Duckworth has taken a number of actions to support small businesses. Last month, she authored bipartisan legislation to prevent the Small Business Administration’s (SBA) 7(a) flagship loan program from shutting down. Duckworth joined Senator Markey to announced legislation to appropriate PPP funding better targeted towards small businesses of color, part of which was included in the Heroes Act.