Congresswoman Escobar Announces PPP Helped El Paso Retain More than 83,000 Jobs
El Paso, Texas, July 16, 2020
Tags: Economy and Jobs
Today, Congresswoman Veronica Escobar (TX-16) announced that the Paycheck Protection Program (PPP) has benefited 6,358 El Paso businesses and organizations and retained 83,773 jobs in Texas’ 16th Congressional District so far during the coronavirus (COVID-19) pandemic.
“The Paycheck Protection Program provides a lifeline to struggling El Paso businesses and the paychecks employees need during this unprecedented health and economic crisis. I am very pleased to have worked in Congress to create a program designed to help small businesses rebuild and find a path to recovery,” said Congresswoman Escobar. “The crisis isn’t over, and I call on the Senate to pass the Heroes Act, which would extend this program. Additionally, I call on the Trump administration to provide Congress with all the data we need to prevent fraud and ensure Congress’ historic investment of taxpayer funds is being used wisely and efficiently to protect the lives and livelihoods of hard-working families.”
The Paycheck Protection Program was created by Congress in the bipartisan Coronavirus Aid, Relief, and Economic Security (CARES) Act, the third coronavirus response which Congresswoman Escobar helped craft with community input and was passed by the U.S. House of Representatives and signed by President Trump on March 27, 2020.
The program, implemented by the Small Business Administration (SBA), provides assistance to small businesses, tribal businesses, and certain nonprofits who maintain their payroll during this health and economic emergency.
In April 23, Congresswoman Escobar voted for H.R. 266, the Paycheck Protection Program and Health Care Enhancement Act to infuse $310 billion in additional funding to the PPP and make key improvements to the program.
On May 28, Congresswoman Escobar voted for H.R. 7010, the Payroll Protection Program Flexibility Act to provide needed flexibility to the Paycheck Protection Program. On July 1, the House of Representatives extended the PPP application period to August 8, 2020.