ASSEMBLYMAN COLIN SCHMITT CALLS ON CONGRESS TO PROMPTLY MODIFY PPP PROGRAM
Washingtonville, NY — (05/15/20) Assemblyman Colin J. Schmitt (R,C,I-New Windsor) has sent a letter to Senator Charles Schumer, Senator Kirsten Gillibrand, Congressman Sean Patrick Maloney and Congresswoman Nita Lowey requesting Congress promptly modify the federal Paycheck Protection Program (PPP) to assist small businesses struggling during the COVID-19 crisis.
Many small businesses are unable to use the funding to meet the benchmarked percentages required for payroll or need to use a larger percentage of the funding to cover other critical operational expenses and therefore will not be eligible for loan forgiveness.
Assemblyman Colin J. Schmitt stated, “My office has been flooded with calls for assistance from small businesses for assistance with the federal Paycheck Protection Program (PPP).
The current program as developed is in need of modification by Congress. The program restrictions, limitations and mandates are proving to be a serious problem for small businesses across all sectors of the economy.
Congress needs to promptly modify this program to help our struggling small businesses.”
Copy of letter attached.
Colin Schmitt is committed to public service. Colin is a member of the U.S. Army National Guard and Assemblyman for the 99th NYS Assembly District which includes the Town of Stony Point in Rockland County and The Towns of Wawayanda, Goshen, Hamptonburgh, Chester, Blooming Grove, New Windsor, Cornwall, Highlands and Woodbury in Orange County. Colin lives in the Town of New Windsor with his wife Nikki and their beloved adopted Catahoula puppy Quincy!