Rep. Kilmer Testifies at the House Small Business Committee

Thank you, Madam chair and members of the Committee. Small businesses aren't only the backbone of our economy, they are economies star running back. They rack up the tough yards and they score the touchdowns on main streets across this country, creating over 60 percent of new jobs in our private in the private sector. As we work to contain the spread of Corona virus and save lives, our star running backs, our small businesses are getting tackled behind the line of scrimmage. I think the federal government should do some blocking and call some place for them and that's why the Cares Act included funding for loan programs to help small businesses and their workers get through this crisis, including the paycheck Protection program to help employers keep their workers on the payroll and I thank this Committee for its leadership on that program. But these programs have had a rocky roll-out and clearly more funding is needed. I believe there's no time to lose because businesses are making decisions right now about whether to hunker down and whether through this or fold the tent and that's why I introduce the bipartisan Paycheck Protection Program Extension Act to nearly triple the funding In the PPP and to extend the program's duration, our business needs, certainty and breathing room to help build demand. My bill will ensure that every qualified small business is able to access the critical assistance needed to retain their workforce and cover basic operating costs for the duration of the pandemic, including the ability to get more assistance to tough times. Continue. We also need to think about what it means to businesses can't fully reopen in two months. We can't just think about the next play, but we need to know what our call will be In multiple situations and that's why federal assistance should build in automatic triggers to kick in if economic conditions remain dire and provide additional help when needed. We need a game plan that includes more help for small businesses facing challenges. now one that also includes stabilizers that were quickly and automatically to get help where it's needed when it's needed. It's time for a comprehensive strategy to help small businesses, think of it as Main Street Beast mode to empower them to score the points of our economy will desperately need hope this Committee will consider the PPP Extension Act as part of that plan. Thank you Madam chair.