Washington—Heritage Action released the following statement today on behalf of Executive Director Jessica Anderson in response to the final deal on small business relief:
The Paycheck Protection Program has been a widely accessed tool in getting emergency funds to struggling small businesses — so sought after by businesses that it required additional funds after only two weeks. Despite attempts by Senate Democrats to block additional funding, Congress will be considering a bill to add another $310 billion to the program. This is welcome news to the millions of small businesses and employees faced with closure and bankruptcy because of the state governments' response to the COVID-19 pandemic.
The American people scored a win as Republicans successfully kept Speaker Pelosi from adding billions in state bailouts. As some governors sought a massive $500 billion bailout — much of which would go towards existing state debt and to expand public union partisan warfare — Republicans stood firm and refused to grant liberal demands. Conservatives should continue to fight to exclude state bailouts in any future deal.
Fiscally irresponsible states cannot be allowed to hijack a national crisis to fill their coffers and line the pockets of unions. Instead, Congress should move quickly to approve the small business loans through a narrow package without including Democrat demands for state bailouts.