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Arlington, VA – AFP Chief Government Affairs Officer Brent Gardner issued the following statement on recent reports that the Senate is considering $250 billion in additional funding for the Paycheck Protection Program, which provided an initial $350 billion for businesses to cover payroll and expenses during the coronavirus pandemic.
“After $2 trillion in new spending, American’s can’t afford another $250 billion without first seeing the offsetting cuts that will pay for it. We agree the Paycheck Protection Program provides targeted and timely relief to help businesses keep people on the payroll and off the unemployment line, but it can’t come at the expense of our long-term fiscal health. If more emergency support is needed for businesses harmed by the economic shutdown in response to the coronavirus, Congress must do it responsibly by making cuts elsewhere. The need to move swiftly to address today’s crisis shouldn’t be an excuse to ignore tomorrow’s.”