Business & Economics

New Paycheck Protection Program Offers Real Relief for Small Business

“We cannot solve the economic crisis until we solve the public health crisis caused by the coronavirus, but we can take steps to ease the financial pain for our nation’s employers and their employees. And that is what Congress did last week,” Sen. Marco Rubio (R-FL) writes for Fox Business.
 
The $350 billion Paycheck Protection Program “will immediately get cash in the hands of small and midsize businesses to keep Americans tied to their jobs.” As long as employers use the loan “for payroll costs like salaries and cash tips, as well as debt obligations like mortgage, rent, utilities, and insurance premiums, it would be forgiven in full.”
 
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From West Wing Reads

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