Ortiz: It’s Defcon 1 for America’s Small Businesses–This Is What Has to Happen Next

Closed Small Business
Fox Business

Alfredo Ortiz of Job Creators Network writes in Fox Business that unless Congress passes an extension of the Paycheck Protection Program, the survivability of small businesses is doomed:

It’s Defcon 1 for small businesses. Experts assume that the country will achieve vaccine-induced herd immunity by May, so call the effort to keep small businesses alive until then “Operation Mayday.” The best way to help small businesses bridge the gap from today till May is by extending the Paycheck Protection Program, which offers small companies forgivable loans if they maintain their payroll.

Obstructionist Democrats in the House of Representatives have held additional PPP funds hostage in return for a multi-trillion-dollar blue state bailout that would amount to a debt jubilee for badly governed states and localities.

Yet the December 11th government funding deadline offers Congress the opportunity and impetus to finally come together in bipartisan compromise to save small businesses. The PPP is one of the most successful government programs in U.S. history. So far this year, the program distributed roughly five million forgivable loans worth over $500 billion, saving more than 50 million jobs.
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