This article originally published on December 29, 2020.
CKE Restaurants former CEO Andrew Puzder argued on Tuesday that the best stimulus for small businesses is customers and that the Paycheck Protection Program cannot save them all.
“We can save these businesses, but we need to find a way to let them stay open,” Puzder said.
The author of “The Capitalist Comeback: The Trump Boom and the Left’s Plot to Stop It” made the comments on “Mornings with Maria,” two days after President Trump signed a $900 billion COVID-19 legislative package that includes nearly $300 billion in additional Paycheck Protection Program funds.
This PPP extension is a lifeline for struggling small businesses that are dealing with another surge of coronavirus cases and the related restrictions imposed by state and local governments in an effort to slow the spread.
The PPP was a centerpiece of the $2.2 trillion-coronavirus relief bill approved by Congress in March and distributed millions of forgivable loans worth more than $500 billion. It is credited with saving millions of jobs for those employed by small businesses, according to data provided by the Small Business Administration.
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