WASHINGTON, D.C. – U.S. Rep. Fred Upton, R-St. Joseph, today voted for and the U.S. House passed the bipartisan Paycheck Protection Program Flexibility Act, of which Upton was an original co-sponsor. The bill passed 417-1.

This bipartisan legislation extends loan forgiveness beyond the original 8-week timeline, eliminate restrictions limiting non-payroll expenses to 25% of loan proceeds, extends the 2-year limit on loan repayment, ensure full access to payroll tax deferment, and expand the rehiring deadline to offset the effect of increased unemployment benefits. These five modifications will help simplify the loan process and grant more flexibility to businesses in states that have not yet lifted some restrictions.

Upton delivered remarks on the House floor earlier today, urging his colleagues to support the bill’s passage. Click here to watch those remarks.

“When the President signed the paycheck protection program nearly two months ago, it provided a real lifeline to our small businesses. And as much as we all wanted this crisis to be over by Easter, the Paycheck Protection Program small business lifeline must be extended to account for the continued uncertainty that otherwise would absolutely drown our small businesses as they attempt to get back on their feet. We need to provide real relief to our small businesses and the millions of employees that it impacts,” Upton said.

"Restaurants have suffered more job and revenue losses than any other sector of the economy because of mandated closures and restrictions on operating.  Enacting changes to PPP, like those in H.R. 7010,  help restaurants receive the relief they need to get employees back to work.  We are grateful to Congressman Upton for his leadership in helping get restaurants and employees on the path to recovery,” Dan Roehl, Vice President of Government Affairs at the National Restaurant Association, said.

The PPP Flexibility Act received the Problem Solvers Caucus endorsement after more than 75 percent of the 50-member bipartisan caucus agreed to support the bill.

The Paycheck Protection Program was implemented as part of the CARES Act, which was passed by the U.S. House of Representatives and signed by President Trump on March 27^th. To date, the Paycheck Protection Program has provided more than 4 million loans totaling more than $511 billion in federal funding to small businesses and their employees across the country.