Pennsylvania lawmakers on Thursday said the Paycheck Protection Program (PPP) has helped many small businesses survive the coronavirus-induced recession despite initial frustrations during last year’s rollout.
Speaking at The Hill’s “Small Business Recovery: Philadelphia” event, Reps. Madeleine Dean (D) and Dan Meuser (R) discussed what they saw as both the successes and shortcomings of national economic recovery efforts like the PPP.
Dean, a member of the House Financial Services Committee, acknowledged the issues small businesses faced during the first batch of PPP loans, which were meant to help small businesses keep employees on their payrolls during the depths of the pandemic.
“We did face that immediate problem, that the money went fast and many of the smaller folks, smaller businesses didn’t get it,” Dean told The Hill’s Steve Clemons.
Meuser, who sits on the Small Business Committee, added at the event sponsored by Wells Fargo that the PPP rollout was “not perfect” but ended up being a “tremendous lifeline for the small businesses throughout Pennsylvania.”
The two lawmakers also weighed in on President Biden’s $2.3 trillion American Jobs Plan. Dean lauded the package for driving “more dollars to economically depressed areas,” while Meuser said he would prefer a “more targeted approach” with less spending.
Biden promoted his proposal during Wednesday night’s address to a joint session of Congress. He also provided details on his $.18 trillion American Families Plan.