Bergman Supported Paycheck Program Flexibility Act of 2020 Passes House
Today, the Paycheck Protection Flexibility Act – which Rep. Bergman helped introduce – passed the U.S. House 417 - 1. The Paycheck Protection Program (PPP) is the small business relief program enacted by the CARES Act, implemented by SBA, and facilitated by SBA-approved lenders. Unfortunately, for some First District businesses, the terms of the PPP have proven too inflexible for employers, employees, and lenders weathering the current economic storm.
Following House passage of the bill, Rep. Jack Bergman said, "I'm grateful the PPP Flexibility Act passed the House in overwhelming fashion today. Small businesses across the First District and the entire nation have felt the economic strain due to the coronavirus, but the PPP has come very far in easing this burden. This bill will add much-needed flexibility for the local employers making good-faith efforts to support their employees and communities and will help carry Northern Michigan and the U.P. into the U.S. economic recovery."
“We appreciate Congressman Bergman’s leadership with the PPP Flexibility Act,” stated Marty Fittante, CEO, InvestUP, “It is evident that he has listened to the small business community of the Upper Peninsula to propose changes that better serve and support them which in turn will help to further our region’s economic recovery.”
“I appreciate Representative Bergman’s leadership and dedication to see the Paycheck Protection Program Flexibility Act through the House. The hospitality industry has been decimated in Michigan and the original Paycheck Protection Program, while well intended, has proven largely unworkable for an industry that remains mostly dormant. The flexibility embodied in this legislation will allow more restaurants, hotels and resorts to survive, then thrive in our state’s great northern region,” said Justin Winslow, President and CEO of the Michigan Restaurant and Lodging Association.
The PPP Flexibility Act Will: