Congressman Ryan Votes to Provide Additional COVID-19 Resources for Small Businesses, Hospitals, and Medical Providers
Washington, DC – Congressman Tim Ryan (OH-13) today voted in support of the Paycheck Protection Program & Health Care Enhancement Act, providing an additional $370 billion in assistance to small businesses through the Paycheck Protection Program, the Emergency Disaster Lending Program, and the Economic Injury Disaster Loan (EIDL) Program. The legislation also provides an additional $75 billion for hospitals and medical providers, and $25 billion for coronavirus testing. Additionally, the Administration and the Department of Health and Human Services are mandated to create a COVID-19 strategic testing plan, a key to reopening the American economy.
“The package I voted on today is a step in the right direction, there is no question that our small businesses and hospitals needed these additional resources. Unfortunately, this legislation did not go far enough to address the impact that the coronavirus has had on communities across the country,” said Congressman Tim Ryan. “The bill fails to adequately provide much needed resources to our local governments to pay for police, fire, first responders, and for trash pickup. If we let our local governments run out of money, they will have to stop vital services that we need to stay safe and healthy.”
Because of its importance to the reopening of the economy, a significant investment of $25 billion has been made in COVID-19 testing. This allocation will assist states and local governments in understanding COVID-19 testing for both active infection and prior exposure. The plan is also required to include estimates of testing production and guidelines for testing, as well as an outline of Federal resources that will be needed to support the testing plans of states, localities, territories, tribes, and tribal organizations.
Other improvements to the Paycheck Protection Program included allowing smaller agricultural businesses with less than 500 employees to access the PPP and EIDL Programs. Additionally, a set-aside program has been funded at $30 billion for banks and credit unions with less than $10 billion in assets, as well as all Community Development Financial Institutions (CDFIs), MDIs, certified development companies (CDCs), and microlenders that are PPP lenders. These changes are vital to ensure a more equitable distribution of the funds and that big companies do not take funds away from truly small businesses in our communities.
Congressman Ryan voted in favor of this bill today in Washington, DC. The Senate passed the bill on Tuesday by unanimous consent. It will now go to the President for his signature.