Radio Recap – Is Congress Nearing Deal to Replenish Paycheck Protection Program?

Is Congress close to a deal, a new deal, on the expansion of the payroll protection benefits?

On today’s Jay Sekulow Live we discussed the ongoing negotiations going over replenishing the Paycheck Protection Program.

There’s been a little bit of time that has passed since the loan money has run out of the Payroll Protection Program. It does looks like the Trump Administration and Congress expect an agreement today on an aid package of up to four hundred and fifty billion dollars. It may even wind up being more than that in order to boost the small business loan program. It also will add funds for hospitals and COVID-19 testing.

Along with the small business boost, President Trump said that the negotiations are looking at helping our hospitals. The Senate could vote either today or tomorrow. The House announced it could meet as early as Wednesday for a vote on the pending package.

In addition to replenishing the Paycheck Protection Program, another hundred billion would be added for hospitals and testing. Then fifty billion would go to small businesses in the form of economic injury disaster loans.

ACLJ Director of Government Affairs Thann Bennett made the following point:

The original package included about twenty seven billion dollars for economic injury disaster loans that are available to small businesses. So this fifty to sixty billion dollar plus up will be for that portion of the program.

All told, it will now be seven hundred billion dollars that are available to small businesses. The vast majority of it is inside that Paycheck Protection program.

It seems very close to an announcement, I think probably a vote in the Senate tomorrow and a vote in the House Wednesday or Thursday. I think there’s a good chance the Paycheck Protection Program is reopened for applications on Thursday.

I believe this is the key to getting the Phase One opening. To be able to reopen we’ve got to get people on the payrolls so that these businesses can turn on the lights, if you will, kind of flip the switch.

My dad, Jay Sekulow made the following point:

I think that’s right. I think it’s important to point out the three hundred and fifty billion went pretty quickly.

A lot of medical practices that are essential are also being negatively impacted by this. I’ve been on the phone with a number of physicians and hospitals throughout the country that have had, because of the situation, no elective procedures. They’re not able to perform those types of procedures that are necessary, not only for people’s health, but they also keep their practices going.

This additional earmarking, if we get this through this week so funding can start taking place as early as Thursday or Friday, is really needed because you’re not going to successfully get into a Phase One economic reopening until you’ve got some stability in these industries.

You can listen to the entire episode, complete with more analysis by our team here.