Gottheimer, Phillips Sound Alarm to Renew Paycheck Protection Program, Urge Bipartisan COVID-19 Relief Deal Negotiations Continue

GLEN ROCK, NJ — On Wednesday, October 28, 2020, U.S. Congressman Josh Gottheimer (NJ-5) joined U.S. Congressman Dean Phillips (MN-3), both members of the bipartisan Problem Solvers Caucus, discussed the continuously growing need to renew the U.S. Small Business Administration’s Paycheck Protection Program (PPP) for a second round and urged both Congress and the Administration to continue bipartisan negotiations for a new COVID-19 relief deal.

PPP expired 80 days ago this week.

“Here in my District in North Jersey, we’re continuing to face major battles — both the fight to make sure every resident is protected from this virus and the fight to get our local economies, businesses, and communities back on track,” said Congressman Josh Gottheimer (NJ-5), Co-Chair of the bipartisan Problem Solvers Caucus. “To get more help and resources out to our communities, now, more than ever, we need to come together and seek common ground — not further division. We must approve a second round of PPP loans for our small businesses so that they can stay afloat during the winter season.”

“Our bipartisan COVID relief framework shows that Democrats and Republicans who are intentional can actually get things done together and do good work together,” said Congressman Dean Phillips (MN-3).“The Paycheck Protection Program helped millions of small businesses and their employees. We are going to keep advocating for our bipartisan March to Common Ground framework – and the PPP program is going to be central to it, because small businesses are the engine of our economy and if we don’t invest in them now, it will be a lot more costly in the long run.”

In New Jersey, 99.6% of all businesses are small businesses. The Paycheck Protection Program helped retain 168,772 jobs in New Jersey’s Fifth District. In total, 157,405 New Jersey businesses and nonprofits received PPP loans, totaling more than $17.3 billion.

Minnesota’s Third District is home to more small businesses than any other district in the state. In total, the PPP program supported more than 233,000 jobs in the district through 14,000 PPP loans totaling $2.2 billion.

In September, the bipartisan Problem Solvers Caucus unveiled a “March To Common Ground” framework for a bipartisan path forward for a new COVID-19 relief deal, which helped restart negotiations between Congress and the Administration. The bipartisan framework addresses key areas of need, including COVID-19 testing, a second round of PPP unemployment insurance, direct stimulus, worker and liability protection, small business and non-profit support, food security, schools and child care, housing, election support, and state and local aid.

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