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Statement by the President [Paycheck Protection Program Flexibility Act of 2020]
whitehouse.gov ^ | June 6, 2020 | President Donald J Trump

Posted on 06/06/2020 11:05:28 AM PDT by ransomnote

Today, I have signed into law H.R. 7010, the “Paycheck Protection Program Flexibility Act of 2020” (the “Act”).  The Act provides greater flexibility to restaurants, hotels, and other small businesses to use Federal Government loans under the Paycheck Protection Program to pay for payroll, employee benefits, and other expenses while weathering the coronavirus outbreak.  Because the Act is essential to protecting jobs as the Nation begins to reopen the economy, I have signed the Act into law without delay.  Nevertheless, given the uncertain constitutionality of the Act in light of an unprecedented proxy voting system used by the House of Representatives that permitted Members to cast votes on behalf of, and record the presence of, other Members who were not actually present, I urge the Congress to pass the Act anew through traditional in-person voting at the earliest available opportunity.

DONALD J. TRUMP

THE WHITE HOUSE,
June 5, 2020.



TOPICS: Miscellaneous
KEYWORDS: coronavirus; paycheckprotection

1 posted on 06/06/2020 11:05:28 AM PDT by ransomnote
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To: ransomnote

If tehy want to spend government money (which I wouldn’t do without offsetting cuts), they should get money to the SBA to make low- or zero-interest loans with a long payback and little regulatory burden focused specifically on rebuilding businesses that were destroyed by rioters, or possibly were casualties of the shutdown.

Couple that with a suspension of the payroll tax through December 31 and a lower rate next year.


2 posted on 06/06/2020 12:59:45 PM PDT by TBP (Progressives lack compassion and tolerance. Their self-aggrandizement is all that matters.)
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