Rep. Cisneros Urges for Oversight and Transparency of PPP
FULLERTON, CA - Representative Gilbert R. Cisneros, Jr. joined his House colleagues in urging congressional leadership to provide oversight and transparency over the Paycheck Protection Program (PPP). In a letter sent to House Speaker Nancy Pelosi, Minority Leader Kevin McCarthy, Senate Majority Leader Mitch McConnell, and Minority Leader Chuck Schumer, the House members expressed their concerns over the PPP application process and the obstacles small businesses have faced with the program. To view the full letter, click here.
“Too many small businesses have been shut out of the Paycheck Protection Program. It’s unacceptable that big businesses were getting this small business lifeline, while banks were prioritizing applications that would line their own pockets,” said Rep. Cisneros. “Congress needs to conduct the necessary oversight over PPP and ensure transparency and accountability to this process.”
The members ask that the newly formed Bipartisan House Select Committee on the Coronavirus Crisis, the Congressional Oversight Commission and the Pandemic Response Accountability Committee to immediately prioritize a thorough and ongoing review of the PPP.
On April 23rd, Rep. Cisneros published an op-ed in the Hill calling on banks to be good actors and prioritize the American people and small businesses over profits during this crisis.