WASHINGTON – U.S. Senator Kevin Cramer (R-ND) issued the following statement on the Senate passing HR 7010, the Paycheck Protection Program Flexibility Act:
“The Paycheck Protection Program is wildly popular with small businesses in North Dakota and across the country, and the economic consequences of COVID-19 are not going to go away with the flip of a switch. While it is not perfect, this legislation extends the application deadline for PPP loans through the end of the year, lengthens the time business owners have to spend the money, and provides applicants with flexibility to use more funds on necessary expenses like mortgage payments and utilities.”
The Senate passing this legislation follows its passage through the House last week.
It now goes to the President’s desk for his signature. Senator Cramer presided over the Senate as the legislation passed by unanimous consent.