The U.S. House overwhelmingly passed legislation Thursday to ease rules on small-business owners who are participating in a loan program meant to mitigate the economic complications of the COVID-19 pandemic.
The new legislation was a bipartisan effort, spearheaded by two freshmen — including U.S. Rep. Chip Roy, R-Austin.
“We want to make sure that money is being targeted and focused in ways that’s best for those businesses in order to stay alive,” Roy said in an interview last week as he was shepherding the bill through the chamber.
Roy’s bill loosened those rules for small business owners by:
The bill passed with some Democratic members voting on behalf of colleagues in a newly implemented — albeit controversial — vote-by-proxy process brought on by the COVID-19 pandemic.
Roy and Dean came together to write the bill as each received feedback on the PPP program from stakeholders that included small-business owners and trade groups.