Kustoff Votes to Provide Increased Flexibility to the Paycheck Protection Program
WASHINGTON, DC— Today, Congressman David Kustoff (TN-08), voted for the Paycheck Protection Program Flexibility Act. This bill extends the Paycheck Protection Program coverage period from 8 weeks to 24 weeks, gives small businesses more choice in how to use their funds, extends the loan maturity, and ensures small businesses will not be penalized by high unemployment benefits.
“The Paycheck Protection Program has proved incredibly successful for small businesses in West Tennessee. Without it, many businesses may have closed their doors permanently. However, I have heard from small business owners that the program’s one size fits all rules hinder their ability to best use this funding,” said Rep. Kustoff. “Today’s legislation will make this program more accessible and allow our small businesses more flexibility to use these funds to keep their doors open.”