Luetkemeyer: Biden’s Comparison of PPP Loans and Student Loans is Reckless and Irresponsible
Washington, August 26, 2022
WASHINGTON, D.C. – Today, Ranking Member Blaine Luetkemeyer (R-MO) issued the following statement regarding Paycheck Protection Program (PPP) loan forgiveness:
“The Paycheck Protection Program, a forgivable loan for small businesses created by Congress with vast bipartisan support, is not the same as a student loan. PPP loans saved small businesses and the American worker when Main Street was forced to shut down by state and local authorities and the heavy hand of government during the COVID pandemic. They were a lifeline to Main Street USA and allowed them to stay open and continue to pay their employees during a time of economic reckoning. Without the PPP, small businesses which operate on thin margins, could have closed forever. To save face with the American people, Biden is unilaterally and probably unconstitutionally waiving select amounts of student loan debt. The fact Democrats are trying to call these two loans equal is egregious and irresponsible. Just another reckless spin by Biden to make the American people forget about his economic crisis,” said Ranking Member Luetkemeyer.