FOR IMMEDIATE RELEASE:
March 6, 2021
Contact: Press@paul.senate.gov, 202-224-4343
WASHINGTON, D.C. – Today, U.S. Senator Rand Paul (R-KY), ranking member of the Senate Small Business Committee, introduced an amendment to stop Democrats’ attempts to use taxpayer dollars to fund labor unions and other large, well-financed nonprofits through expanded access to the Paycheck Protection Program (PPP).
“Democrats are trying to provide free money to their political allies, instead of fighting for small businesses and the American people, “said Dr. Paul. “The original congressional intent of PPP was to limit large and well-financed groups from receiving a loan, and instead provide relief to small businesses.”
This legislation also waives the Small Business Administration’s (SBA) affiliation rules for internet publishing organizations allowing well-financed media companies to obtain PPP loans.
Earlier this week, Dr. Paul was able to ensure that Democrat’s removed language that would violate the so-called Byrd rule by waiving SBA’s affiliation rules for large nonprofits. This affiliation waiver would have allowed Planned Parenthoods across America to receive free taxpayer money.