H.R. 1799 would extend the authorization for the Treasury Department’s Paycheck Protection Program (PPP) from March 31 to June 30, 2021. The PPP provides Small Business Administration-backed loans to businesses of 500 employees or less struggling as a result of the draconian COVID-19 lockdowns issued by governors across the country beginning in 2020 and extending into 2021. PPP loans do not have to be paid back so long as employers only use the funds for legitimate business expenses, such as PPP-approved payroll costs, mortgages, rent, operation expenditures, personal protective equipment as may have been required by state-issued emergency orders, property damage as a result of violent mob protests that occurred in 2020 and not covered by the business’s insurance, and suppliers’ costs for contracts or other bills of goods and services purchased prior to taking out the loan.
The Senate passed H.R. 1799 on March 25, 2021 by a vote of 92 to 7 (Roll Call 140). We have assigned pluses to the nays because the Constitution does not authorize the federal government to bail out or lend funds to business.
