PRESS RELEASE: BIDEN’S PPP REFORMS WILL ENSURE PUBLIC INVESTMENT GOES TO SMALL BUSINESS INSTEAD OF CONNECTED CORPORATIONS, WEALTHY DONORS 

FOR IMMEDIATE RELEASE 
February 21, 2021

Contact:
Maddy McDaniel, Communications Director

[email protected] or 914-471-7716

BIDEN’S PPP REFORMS WILL ENSURE PUBLIC INVESTMENT GOES TO SMALL BUSINESS INSTEAD OF CONNECTED CORPORATIONS, WEALTHY DONORS 

President Biden’s Reforms and the American Rescue Plan Will Give Much-Needed Relief to the Hardest Hit Small Businesses

But Now That Biden Is Taking Steps to Ensure Well-Connected Donors & Big Corporations Can’t Cut In Front Of The Line, GOP Lawmakers Are Opposing Additional Relief For Small Businesses

Sen. Ben Cardin and Small Business Advocates Will Discuss These Updates and the Need for Additional Relief for Small Businesses in a Press Call Organized By Invest In America Tomorrow at 11AM ET — Register Here 

WASHINGTON, D.C. — Today, President Biden announced new reforms to make the Paycheck Protection Program (PPP) more equitable and accessible to ensure that small businesses will primarily benefit from crucial public investment, not the massive corporations like Newsmax and Hallmark which received aid in the previous packages during the Trump Administration.

“President Biden’s reforms are a crucial step to ensuring that public investment reaches the small businesses that need it most — not the well-connected corporations that were able to cut the line during the previous administration,” said Maddy McDaniel, communications director for Invest In America Action. “This clear signal of the Biden Administration prioritizing small business should be welcome news. However, GOP lawmakers are opposing additional aid for small businesses in the American Rescue Plan, a 180-degree turn from their support of previous packages. One reason could be the $15 billion for mom-and-pop shops on Main Street that can’t go to their wealthy and well-connected donors.”

BACKGROUND ON GOP LAWMAKERS’ RAPIDLY DECLINING SUPPORT FOR PUBLIC INVESTMENT AND COVID RELIEF FOR “SMALL” BUSINESSES

About Invest in America

Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.

The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.

Learn more at InvestInAmericaNow.com and @InvestNowUSA, and InvestinAmericaProject.com.

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