A push for unanimous consent to have the Senate immediately consider S. 4117, the Paycheck Protection Small Business Forgiveness Act, has failed this afternoon, Wednesday, September 30.
Senator Kevin Cramer (R-ND), the lead sponsor of S. 4117, sought the unanimous consent on the Senate floor. Senator Ben Cardin (D-MD), the Ranking Member of the Senate Small Business Committee, objected to consideration of the bill because the legislation is too narrowly tailored to only address the forgiveness process, but does not include a second round of loans for PPP or make additional changes to other SBA-related small business loan programs.
Wisconsin banks and their business clients need this assistance.
WBA, with help from the membership, has been actively advocating for passage of legislation that would automatically forgive PPP loans in the amount of $150,000 or less. Here is a snapshot of the WBA’s efforts in just the last few weeks:
- WBA’s Rose Oswald Poels organized a coalition of Wisconsin businesses who sent a letter to the Wisconsin Congressional Delegation asking for the support of PPP forgiveness.
- During our recent Capitol Days, WBA and members solicited the help of key State Legislators who called on Congress to ask for S. 4117/ H.R. 7777.
- WBA staff has contacted every member of the Wisconsin Congressional Delegation.
- WBA Members have contacted Congress directly on this issue.
WBA will continue to fight for streamlined PPP forgiveness but this may be the last week of the floor period before the November 3 election. We’ll report more on this issue as additional information becomes available.