Congresswoman Carolyn B. Maloney (D-NY) released the following statement following Senate passage of the latest interim emergency coronavirus legislation: “The emergency funding package passed yesterday (April 21) by the Senate is a far cry from the insufficient Republican proposal that did not help our hospitals and health workers and left behind many of our most vulnerable small businesses. I am proud of the work done by Congressional Democrats to make this bill a bipartisan deal that follows the path set by the bipartisan CARES Act.
“Importantly, in addition to securing additional funding for the Paycheck Protection Program (PPP), this bill specifically sets aside billions for women and minority-owned businesses who were largely left out of the initial distribution of PPP loans. This allocation is channeled through lenders in underserved communities, including CDFIs, which are experts in reaching unbanked small business owners. We were also able to expand support for small businesses by providing an additional $50 billion for emergency disaster lending.