Protecting Paycheck Protection
More Money for Paycheck Protection Loans
On Friday, President Trump signed into law additional funding for the Paycheck Protection Program. $320 billion is on its way to small businesses across America.
So far in Wisconsin, 43,395 loans have been approved. That puts us 13th in the country for total number of loans approved. Those loans total $8.3 billion. That's the 14th highest amount in the nation.
Here's the latest report from the Small Business Administration.
Reopening Our Economy
I talked to WFRV in Green Bay about reopening the economy. I think we need to identify the non-essential businesses that really do pose a risk to the spread of COVID-19 and keep them closed but financially supported. Everyone else, we should work to safely reopen.
I also joined Wisconsin Manufacturers and Commerce for a business update webinar. You can listen to it here.
Protecting Paycheck Protection
The CARES Act had the best of intentions, but as we become aware of problems, I hope the administration and my congressional colleagues will work in good faith to remedy them. Case in point: forgiveness of Paycheck Protection Program loans.
In this Wall Street Journal opinion column, I lay out my preliminary proposal to remedy abuse of PPP. The well-intentioned program was rapidly deployed, but now it's time for fine tuning to help the individuals and entities that have borne the brunt of the coronaviruss economic destruction.
Oversight Plans for CARES Act
The Senate announced how oversight of the CARES Act will be coordinated and my Homeland Security and Governmental Affairs committee will play a prominent role.
I look forward to working with Senator Mike Crapo of Idaho and the other committee chairmen to coordinate the Senate's work overseeing the CARES Act. The majority leader's emphasis on appropriate, objective and nonpartisan oversight is wholly consistent with the approach our committee will continue to take to provide oversight of key issues surrounding the COVID-19 pandemic and our nation's response.
Since the CARES Acts passage, our committee has been researching and laying the foundation for oversight over: (1) the readiness of our strategic national stockpile; (2) vulnerabilities in our vital supply chain; (3) the use and accuracy of scientific models used for prediction and driving our response to COVID-19; (4) the origins of COVID-19; and (5) the role the World Health Organization played. Our committee's focus will be on conducting methodical, nonpartisan oversight of these issues to understand what happened and what changes should be made to ensure we are better prepared in the future.
IRS Get My Payment
The IRS is working hard to deliver Economic Impact Payments (EIP) as quickly as possible. So far, 1,690,733 people in Wisocnsin have gotten payments.
The IRS designed a new tool called Get My Payment to help people track the status of their payments, similar to the Wheres My Refund? tool used during tax season.
IRS.gov has a special page that allows individuals, businesses and others get the information they need about EIP and CARES Act provisions, including these FAQ's.
Wisconsinites Doing Good
SC Johnson converts part of its Mount Pleasant facility to produce hand sanitizer.
McDonald's is giving free "Thank You Meals" to healthcare workers and first responders.
