[Congressional Record Volume 167, Number 53 (Monday, March 22, 2021)]
[Senate]
[Page S1663]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      PAYCHECK PROTECTION PROGRAM

  Mr. SCHUMER. Madam President, PPP. In addition to these nominees, the 
Senate has another important matter of legislative business on the 
agenda this week: an extension of the bipartisan Paycheck Protection 
Program, which is set to expire at the end of the month.
  Since its inception, the Paycheck Protection Program has generated 
more than 7.8 million loans to keep America's businesses afloat during 
what has been the worst economic crisis in three-quarters of a century, 
since the Great Depression. With the help of the American Rescue Plan, 
our economy is finally turning the corner, but businesses are not out 
of the woods yet and are likely to need assistance for another few 
months as the country continues to recover.
  Most borrowers are currently awaiting loan approvals at the Small 
Business Administration, and many more are still looking to apply. 
Working with the Biden administration, we made important changes to the 
PPP program to expand eligibility and access to nonprofits, to hard-hit 
independent venues, and to make it easier for the smallest, most 
underserved businesses to get relief, particularly microbusinesses, 
sole proprietors, and woman-owned and minority-owned businesses.
  There is no reason--no reason--to let this program expire while there 
are still scores of applicants in line and billions of dollars left in 
the program. The House already passed the extension of the program by 
an overwhelmingly bipartisan vote, 415 to 3. A bipartisan group of 
Senators, including Senators Cardin and Collins, Shaheen, Marshall, 
Sullivan, and Murkowski, support identical legislation here in the 
Senate.
  So we are not going to end this week without passing an extension. 
Again, the Senate must pass another extension of the Paycheck 
Protection Program before the end of the week and make sure the 
Nation's small businesses can have access to this very vital lifeline.
  I yield the floor.
  I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The legislative clerk proceeded to call the roll.
  Mr. DURBIN. Madam President, I ask unanimous consent that the order 
for the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.

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