As the number of confirmed COVID-19 cases in Texas continues to grow, we can’t
help but ask, “when?” When will the outbreak peak? When will people go  
ICYMI: Cornyn: More funding needed to protect paychecks in pandemic

By John Cornyn

As published in the San Antonio Express-News

As the number of confirmed COVID-19 cases in Texas continues to grow, we
can’t help but ask, “when?” When will the outbreak peak? When will people go
back to work? When will things return to “normal”?

This situation is unlike any our country has faced before — it combines the
fear of a public health emergency with the uncertainty of an economic one.

The timeline to resume our routines largely depends on our ability to stop
the spread of the virus, and provide our hospitals, health care professionals
and first responders with the resources they need on the front lines. But it
also involves throwing a lifeline to the people, businesses and institutions
that define our own versions of normal so they can open their doors when this
crisis ends.

Think about your favorite restaurant or the gym you visit a few times a week.
There’s the flower shop you call before every wedding anniversary, the
bookstore whose aisles you love to browse, and the barbershop you call when you
need a haircut. At no fault of their own, these businesses have been forced to
close their doors or dramatically shift operations to deal with the current
circumstances. As a result, the businesses and employees our communities love
and depend on are in jeopardy.

In late March, President Donald Trump signed the CARES Act — the third bill
passed by Congress to bolster our nation’s response to the novel coronavirus.
It provided hundreds of billions of dollars in funding for hospitals and local
governments, and took bold steps to protect American jobs.

This legislation established the nearly $350 billion Paycheck Protection
Program to keep businesses and their employees afloat. It provides loans to
small businesses, which they can use to cover not only employee salaries and
wages but also health care benefits, retirement contributions and paid sick
leave. This assistance can also help with a business’s rent or mortgage
payments, supply chain disruptions and utilities. Not only are these loans low
interest, but employers can have certain portions of the loan forgiven if they
maintain their payroll and don’t cut salaries.

Over the past several weeks, I’ve joined virtual meetings and conference
calls with countless small business owners across the state. From San Antonio
to El Paso, Longview to the Panhandle, and down to Laredo, small businesses
have told me about the challenges they’re up against. They’ve been forced to
make tough decisions about the future of their businesses and the livelihood of
their employees. But the Paycheck Protection Program has provided a sense of
hope and relief.

Unlike funding for hospitals and state and local governments, which have
taken longer to prepare for distribution, the Paycheck Protection Program was
ready to accept and approve applications in only two weeks. The more than 135
existing SBA-certified lenders in Texas — including local banks, credit unions
and financial institutions, with more being added every day — can distribute
these loans.

Unfortunately, whenever Congress passes substantive legislation this quickly,
some things are bound to get overlooked. I have been working with Texans across
the state to fill these gaps and get money flowing to all small-business owners
in need, regardless of bureaucratic red tape.

In the first few days, it became clear that the overwhelming popularity of
the program would quickly exceed the amount of money available. Now that we’ve
tossed this lifeline to small businesses, we cannot reel it in until they’ve
had a chance to grab on.

Senate Republicans recently introduced a bill to supplement this fund with
more than $250 billion, bringing the total to $600 billion. The bill didn’t
include any other proposals that could have slowed its passage — just money for
the Paycheck Protection Program, plain and simple.

Unfortunately, the bill didn’t pass. Senate Democrats blocked additional
funding for this job-saving program because it didn’t include money for other
relief funds, which are nowhere near being depleted.

Returning our country to a sense of normalcy will require a departure from
Congress’ normal behavior, too. There’s no time for partisanship or attempts to
gain leverage. We all win, or we all lose.

It’s time to provide more funding for the Paycheck Protection Program so we
can ensure that once life goes back to normal, Texas will be open for business.
 
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