Small businesses are the heart-beat of this economy, representing 99.7 percent of all companies in America, employing half of all private sector employees and accounting for over half of the private sector economy. Americans do not owe our prosperity to the government; we owe it to the men and women who work to achieve their dreams.
Small businesses have been hit hard by the COVID-19 pandemic and it is the duty of Congress to support America's small businesses during state and local government mandated shut downs. At the onset of this pandemic, Congress passed a provision in the CARES act that created the Paycheck Protection Program (PPP). PPP has been a lifeline for small businesses that have been hanging on by a thread. In the most recent relief package signed into law by President Trump at the end of 2020, PPP was reauthorized and small businesses that have already used their funds from their first PPP loan were eligible for a second draw loan.
With more and more vaccines being distributed, there is light at the end of the tunnel. Congress needs to continue to work in a bipartisan manner to support small businesses to make sure they can survive through the end of this pandemic. While I am in Congress, I will continue to fight to get small businesses the resources they need to survive through the end of this pandemic and prosper well beyond it.