Washington, D.C. – The Economic Innovation Group (EIG) applauds the passage of the Paycheck Protection Program (PPP) Flexibility Act, a bipartisan effort to improve PPP and ensure the program provides more effective relief to deeply affected small businesses.
While the Paycheck Protection Program was an important first step in providing emergency relief, America’s small businesses continue to face new and evolving disruptions due to the COVID-19 pandemic. Incorporating several of the recommendations that EIG offered last month, the PPP Flexibility Act enacts improvements that will allow more businesses to utilize PPP to meet their most pressing needs.
“The passage of the Paycheck Protection Program Flexibility Act is good news for American small businesses, and will help address many of the biggest challenges they have faced in navigating the program,” said EIG President and CEO John Lettieri. “Building upon this bipartisan effort, we hope that Congress will soon begin work on additional measures beyond PPP to help deeply affected small employers survive the difficult road back to a fully functioning economy.”
More information on the Paycheck Protection Program Flexibility Act can be found here.
About the Economic Innovation Group (EIG)
The Economic Innovation Group (EIG) is an ideas laboratory and advocacy organization whose mission is to advance solutions that empower entrepreneurs and investors to forge a more dynamic American economy. Headquartered in Washington, D.C. and led by an experienced, bipartisan team, EIG convenes leading experts from the public and private sectors, develops original policy research, and works to advance creative legislative proposals that will bring new jobs, investment, and economic growth to communities across the nation. For more information, visit eig.org.