Congress approves refilling Payroll Protection fund, Arrington s - FOX34 Lubbock

Congress approves refilling Payroll Protection fund, Arrington shows support

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Washington D.C. -

Congress has approved refilling the Payroll Protection Program, the program providing federally-backed small businesses loans to keep workers employed.

Lubbock Congressman Jodey Arrington approved the measure and released a video showing his support. It highlights businesses who can stay afloat with those loans.

He said these loans are a life-line and emphasized it's these entrepreneurs who will get our nation through the crisis, not the government.

"They're healthcare workers who rushed to the frontlines in this battle, risking their lives for our safety. They're family farmers, independent energy producers, and small businesses of all kinds who listened to their leaders, did their part, made their sacrifices and stayed home, shuttered their businesses – all to keep their communities and country safe," Arrington said.

President Trump says he'll approved the proposal as well. It injects nearly $500 billion into the Payroll Protection fund, as well as hospitals.

These loans can be forgiven entirely if a business maintains the same number of staff as before the pandemic. The loans are taken care of through community banks.

 

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