The Small Business Administration’s Paycheck Protection Program (PPP) has exhausted the last of the $349 billion in funding it was provided under the Coronavirus Aid, Relief, and Economic Security (CARES) Act to make forgivable loans to small businesses, reported Countable.
A week ago, Senate Republicans tried to pass a “clean” bill by unanimous consent that would have simply boosted PPP funding by $250 billion. Senate Democrats objected and blocked the bill.
Amid small businesses in possible limbo as the Paycheck Protection Program has run dry, House Speaker Nancy Pelosi (D-CA), showed off a freezer full of Jeni’s ice cream, a brand that advertises pints-by-mail for $12 apiece, during an appearance on “The Late, Late Show With James Corden” earlier this week.
Pelosi pulled open her freezer during the live stream, and it was packed with containers of Jeni’s ice cream, which prompted Corden to ask: “Since you’ve been isolating in your house, how much of your regular diet do you think is ice cream and candy?”
“Well, as much as possible,” Pelosi responded. “I enjoy it. I like it better than anything else. And I don’t know why, but it seems to agree with me. I have a lot of energy and we just got it restocked, the ice cream, for Easter Sunday, because, shall we say, we were enjoying. I don’t know what I would have done, were ice cream not invented. I just wonder.”
Senator Marco Rubio (R-FL) responded to Pelosi after she showcased her ice cream, and vowed to give the House Speaker all the ice cream in his freezer if she stops hold PPP funds “hostage”. Continued Below
“I only have one refrigerator and half of it is a freezer. But, I will give you all the ice cream I have in here, Madam Speaker if you will fund small business and stop holding it hostage,” Senator Rubio said as he opened his freezer to pull out a bag of M&M ice cream.
“All of this right here, these M&M’s,” he said, holding up the bag. “Make it happen.” Video Below
Nancy Pelosi showing off her ice cream collection:
After today, Small Business workers and employees aren’t going to get a paycheck to feed their families because of the Democrats.
But here’s a video Nancy Pelosi’s team put out of her showcasing a (very fancy) freezer full of ice cream and a house full of chocolate. pic.twitter.com/265mKC7q9v
— Matt Whitlock (@mattdizwhitlock) April 15, 2020
Senator Marco Rubio’s response to Pelosi:
So I hear Speaker Pelosi really likes ice cream?
Here is what I am willing to do if she will stop holding aid for #SmallBusiness hostage pic.twitter.com/nqrcgTSbWd
— Marco Rubio (@marcorubio) April 17, 2020
The Florida Senator also tweeted several other videos pertaining to details on PPP:
In just 12 days #PPP has helped over 1 MILLION #SmallBusiness save 15 MILLION American jobs. But now it’s being held hostage by Democratic leaders.
With everything people are going through this is disgusting. pic.twitter.com/ee175KNXK3
— Marco Rubio (@marcorubio) April 16, 2020
Dem leaders blocking #PPP for #SmallBusiness based on ridiculous excuses & many in the media play along instead of calling them out on it. pic.twitter.com/JJIAYT0I1F
— Marco Rubio (@marcorubio) April 16, 2020
Sen. Rubio tells media to “Stop reporting inaccurate information on PPP”:
Stop reporting inaccurate information on #PPP based on anecdotes & unverified partisan statements pic.twitter.com/oq0OzAaJwK
— Marco Rubio (@marcorubio) April 17, 2020
Continued Below
FACTS ignored by those claiming #PPP a “troubled” program only helping big companies via big banks
-14 years’ worth of loans in 12 days to 1.6 million #SmallBusiness
-74% of loans under $150k
-Of 5000 lenders,none loaned more than 5% of total $
-60% lenders under $10B in assets— Marco Rubio (@marcorubio) April 17, 2020
Day Two of #SmallBusiness held hostage by @SpeakerPelosi & @SenSchumer pic.twitter.com/E5sIz9q7nY
— Marco Rubio (@marcorubio) April 17, 2020
Contrary to the air cover being provided to Democratic congressional leaders by many in the media #PPP is NOT tied up because of dueling proposals
They have taken millions of #SmallBusinesses & their tens of millions of employee hostage until their ransom demands are met. pic.twitter.com/5g7ujYSkdH
— Marco Rubio (@marcorubio) April 16, 2020
Dem leaders now blocking #PPP which they enthusiastically backed less than 3 weeks ago
Their excuse is “we need data” & “its only helping bigger companies”
They have data. 70% of loans are for less than 150k & avg loan is only $239k
Yet most of media giving them a total pass pic.twitter.com/7iEg7228CY
— Marco Rubio (@marcorubio) April 16, 2020
Continued Below
Best way to increase access to #PPP for underserved communities is to create bring in CDFI’s as #PPPloan lenders
Best way to do this is to give CDFI’s:
1. Fast track SBA approval
2.Waiver of lending volume requirement
3.Modify how Bank Secrecy Act applies to them for PPP— Marco Rubio (@marcorubio) April 17, 2020
Ironically,the single biggest flaw “keeping far too many small businesses from receiving the resources they need” is that you are blocking more money for #PPP.
And almost 800000 #PPPloan applications are in limbo because of this. https://t.co/aFM1usXZY7
— Marco Rubio (@marcorubio) April 17, 2020
But he leaves out the part about how unless they all get their money at the same time,none of them get their money.
At least the over 800000 #SmallBusinesses,non-profits & independent contractors with pending #PPP applications, now know who is holding their #PPPloan hostage. https://t.co/GuYdoE2ns3
— Marco Rubio (@marcorubio) April 16, 2020
.@SenSchumer & @SpeakerPelosi you should listen to Karen G. Mills, who led the @SBAgov under President Obama
She says refill #PPP now
You are hurting 800000 #SmallBusiness Non-Profits & independent contractors with pending applications in limbohttps://t.co/ma65nizXbo
— Marco Rubio (@marcorubio) April 17, 2020
