Brown says senators want to fix PPP before adding more money
The $349 billion Paycheck Protection Program has run out of money.
Ohio Senator Sherrod Brown says Congress is considering more money, but…”before just putting more money in we want to fix it and make sure money is not wasted,” he says. “Some people who don’t need it have applied for this and we shouldn’t be giving out money to companies that are doing well already.”
Brown says senators continue to talk with farmers, restaurant and other small business owners about how to fix the program.
“We’re all getting thoughts about how this is working and how it’s coming up short,” he says. “We had these discussions among ourselves about how to fix a program as big and as quickly put together as this.”
Farmers are eligible for the paycheck protection if they have 500 or fewer employees and meet the SBA’s alternative size standard, with a maximum net worth less than $15 million and if average Federal income taxes for two years are less than $5 million.