Chip Roy’s “Paycheck Protection Flexibility Act” Passes Overwhelmingly In The House 

"I don’t want to see another local institution go out of business because Congress is more focused on politics than helping Americans who need it. Fortunately, this bipartisan bill puts Americans first and will ensure our favorite small business are around on the other side..."

 WASHINGTON, D.C. —Reps. Chip Roy (R-TX) and Dean Phillips (D-MN) “Paycheck Protection Flexibility Act” passed the House overwhelmingly Thursday, by a margin of 417-1.

The Paycheck Protection Flexibility Act had a diverse list of national and regional organizations supporting its passage prior to Thursday’s vote.

The bill will solve many of the problems with the Paycheck Protection Program (PPP), a critical source of aid for small businesses during the coronavirus epidemic that has come under fire from critics in both parties.

“For the past two months, I’ve heard from business owners in Central Texas who want to keep their employees on the payroll, continue serving their communities, and — mostly — stay afloat until they are allowed to be fully back open for business.

“The Paycheck Protection Program (PPP) has helped many of them do just that, but I have heard from far too many business owners that the program, as it stood, needed changes to make it work for them. I didn’t want to see another local institution go out of business because Congress is more focused on politics than helping Americans who need it.

“Fortunately, our bipartisan bill puts Americans first and will ensure our favorite small business are around on the other side. I am thankful to my colleagues for their overwhelming support today, and I look forward to its swift passage in the Senate.” Rep. Chip RoyU.S Representative Chip Roy (R) Dripping Springs

The Paycheck Protection Program Flexibility Act will create more flexibility for small businesses

    Extends the forgiveness period to 24 weeks
   Replaces the 75/25 rule with a 60/40 rule
   All new PPP loans will receive a 5-yr maturity. Existing loans will remain at a 2-year maturity.
   Allows businesses that receive forgiveness to also receive payroll tax deferment
   Ensures small businesses won’t be penalized by high unemployment benefits
   Creates a safe harbor for businesses that are required to open at only 50 percent capacity

List of Texas organizations supporting the bill

  • Physicians Realty Trust
  • San Antonio Chamber of Commerce
  • Texas Association of Business
  • Texas Dental Association
  • Texas Hotel and Lodging Association
  • Texas Restaurant Association
  • Texas Retailers Association

Select List of Organizations in Support of the Bipartisan Payroll Protection Program Flexibility Act

Academy of General Dentistry
American Council of Engineering Companies
American Dental Association
American Hospital Association
American Hotel and Lodging Association
American Society for Gastrointestinal Endoscopy
American Society of Plastic Surgeons
Asian American Hotel Owners Association
Associated Builders and Contractors
Associated General Contractors of America
Association of Mature American Citizens
Coalition of Franchisee Associations
Community Reinvestment Fund, USA (CRF)
Economic Innovation Group
Electronic Transactions Association
Hospitality Minnesota
Independent Restaurant Coalition
International Council of Shopping Centers
International Food Service Distributors Association
International Franchise Association (IFA)
Marriott International
Medical Alley Association
Medical Group Management Association (MGMA)
Mission Lenders Working Group
National Association for the Self-Employed
National Association of Development Companies (NADCO)
National Association of Federally Insured Credit Unions
National Association of Manufacturers
National Association of Professional Employer Organizations
National Association of Realtors
National Association of Theatre Owners
National Association of Wholesaler-Distributors
National Association of Women Business Owners
National Council of Chain Restaurants
National Franchisee Association
National Independent Automobile Dealers Association
National LGBT Chamber of Commerce
National Lumber & Building Material Dealers Association
National Restaurant Association (plus all 50 state associations)
National Retail Federation
National Small Business Association
Opportunity Finance Network
Page 30 Coalition
Parity for Main Street Employers Coalition
Professional Beauty Association
Small Business and Entrepreneurship Council
Small Business Majority
Small Business Roundtable
The Real Estate Roundtable
U.S. Chamber of Commerce
U.S. Hispanic Chamber of Commerce
US Black Chambers Inc.

US Travel Association


Paycheck Protection Flexibility Act BILLS-116hr6886ih

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