Washington, D.C. – Congressman Sam Graves (MO-06) released the following statement after voting to provide more money for small businesses to deal with the economic effects of COVID-19 and provide more funding to hospitals:
“COVID-19 has wreaked havoc on our economy and put enormous strain on our healthcare providers. I’m glad we were able to pass critical funding to help our hospitals fight this pandemic and get the Paycheck Protection Program and Economic Injury Disaster Loan Program back up and running. With millions of Americans out of work and small businesses on the ropes, these programs have been critical tools to mitigate some of the damage. While the programs are helping small businesses keep employees on payroll, there will be no real recovery until they are able to reopen for business. We must emerge from this pandemic a stronger, more resilient America; I look forward to that happening safely and soon.”
The “Paycheck Protection Program and Health Care Enhancement Act” does the following:
- Provides an additional $310 billion in PPP loans
- Provides an additional $10 billion for Emergency Economic Injury Disaster (EIDL) grants.
- Appropriates an additional $50 billion for the Disaster Loans Program Account.
- Allows agricultural enterprises as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)) with not more than 500 employees to receive EIDL grants and loans.
- Provides an additional $75 billion for reimbursement to hospitals and healthcare providers to support the need for COVID-19 related expenses and lost revenue.
- Provides $25 billion for virus testing