US Representative Jaime Herrera Beutler (R-Wash.) has initiated a discharge petition that would force the House of Representatives to vote on Congressman Steve Chabot’s (R-Ohio) Paycheck Protection Program extension bill. If Rep. Herrera Beutler’s discharge petition receives enough signatures, then the rule provides for immediate consideration of H.R. 8265. This legislation would free up $138 billion in unspent PPP funds until Dec. 31; allow qualified small businesses to take a second loan; and enable 501(c)(6) organizations to access PPP loans.
Created in March as part of the CARES Act, the PPP has provided essential relief for small construction businesses nationwide, but it expired on Aug. 8. Acting as a lifeline for businesses and families, the construction industry utilized this popular loan program for an astounding 496,551 loans. Additionally, the expansion of PPP loans for 501(c)(6) organizations, including ABC state and local chapters, is an issue ABC National has supported for months.
Rep. Herrera Buetler’s petition needs 218 signatures to require the House to consider H.R. 8265. Signatures are currently being gathered by the House Republican Whip team.
With negotiations stalled on a larger COVID relief package, ABC believes that this discharge petition will provide an opportunity for Republicans and Democrats to come together and provide much needed relief for small businesses. The PPP fund has approximately $138 billion left from the $650 billion Congress provided, and it shouldn’t go to waste. Ask your representative to sign the petition today!