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Paycheck Protection Program a win for Wisconsin businesses
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Paycheck Protection Program a win for Wisconsin businesses

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Since January, President Trump and the White House Coronavirus Task Force have been leading the charge to quickly slow the spread of COVID-19.

The president and his administration have shown quick and decisive leadership throughout these uncertain times by leading a whole-of-government approach to address the pandemic. Implementing effective social distancing guidelines, free virus testing, and the travel ban was only the starting point for our country under Trump’s guidance—yet the president also knows that the COVID-19 pandemic has come at a significant cost to small businesses across America.

In March, Trump signed the bipartisan Coronavirus Aid, Relief and Economic Security Act (CARES Act), a stimulus support bill providing Americans with over $2 trillion in federal relief assistance. A key component of the CARES Act is the $350 billion Paycheck Protection Program (PPP), designed to directly support small businesses across the country and locally here in Wisconsin.

This president understands the tremendous sacrifices that small business owners have made as our nation faces an unprecedented challenge in the COVID-19 pandemic. Small businesses make up the backbone of our communities—and the president understands that standing up for small businesses is necessary not just for our economy, but for the millions of Americans who rely on small businesses in order to feed their families.

That is why Trump spearheaded the creation of the PPP. Under the PPP, an initial $350 billion in relief funds were made available in the form of small business loans designed to serve as a lifeline during the pandemic.

This lifeline granted eight weeks of cash-flow assistance for the purpose of enabling businesses to maintain their current employee payroll. With employee retention a goal of the program, businesses with less than 500 employees have borrowed up to $10 million to ensure their employees are paid and avoid significant layoffs.

While the funds are labeled as small business loans, the terms are designed to be 100% forgiven when used for payroll, rent, or utilities. Thanks to Trump’s leadership, small businesses locally and across the county were granted the ability to pay their electric bill while ensuring that employees remain able to provide for their families.

Wisconsin’s economy hosts over 450,000 small businesses. While the PPP has provided over $8.3 billion to Wisconsin small businesses, Democrats allowed the program to run dry for nearly two weeks. This lapse in appropriated funding led by Nancy Pelosi and Chuck Schumer to put many PPP loan applications from Wisconsin businesses on hold, leaving many businesses with no means of support. Their act, followed by Congressional Democrats, was clearly out of touch with the needs of American small businesses.

Thankfully, with the help of Trump and our Republican leaders, Congress finally passed additional funding to support small businesses in Wisconsin. These funds will reopen Trump’s Paycheck Protection Program and ensure Wisconsinites have the resources needed to make it through this crisis. Trump’s dedication to combating the COVID-19 pandemic is a reflection of his commitment to our nation and the safety of our country.

The goal of the Paycheck Protection Program is to secure stability for businesses and their employees so they have the ability to turn the key, open the door, and return to work without significant loss. Over half of the American workforce is employed by small businesses and as our leader, Trump has made it his mission to fight for them.

Erin Decker is chairman of the Republican Party of Kenosha County.

Erin Decker is chairman of the Republican Party of Kenosha County.

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