PPP INJECTED $525 BILLION INTO THE U.S. ECONOMY

KEY POINTS:

  • The Biden Administration is considering numerous changes to the Paycheck Protection Program (PPP).
  • It is important to highlight the impact of the Paycheck Protection Program during the COVID-19 pandemic.
  • Senator Marco Rubio (R-FL) recently explained the success of the PPP program he co-authored as Chairman of the U.S. Senate Committee on Small Business and Entrepreneurship.
  • PPP injected over $525 billion into the U.S. economy in less than four months, making it the largest and most rapidly implemented fiscal policy support enacted by the CARES Act.
  • Former CBO Director Doug Holtz-Eakin called PPP “the single most effective fiscal policy ever undertaken by the United States Government.”
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