When the shutdowns from COVID-19 began to take effect in March of 2020, Senator Marco Rubio knew that the impact to the economy could be catastrophic if they didn’t act soon. With the looming threats of widespread unemployment, a real estate crisis, and the reality that many small businesses would be wiped out, Sen. Rubio lead the way for the Paycheck Protection Program (PPP). Listen in as Sen. Rubio takes host Gene Marks behind the scenes of the PPP – a look back at how it started, how it went, and where it’s going.
Topics include:
00:19 – Introduction to the episode 01:03 – The numbers of the PPP 01:28 – From a supply chain tool to the PPP 03:50 – Who was a part of creating the PPP 05:16 – The inspiration 06:45 – Sen. Marco Rubio’s thoughts and fears 08:33 – The PPP and fraud 10:30 – Why the banks were slow to react 12:49 – How Sen. Rubio educated people about the PPP 14:41 – Sen. Rubio’s involvement throughout the PPP 16:25 – How bipartisan was the PPP? 18:12 – If he could do it again what would he change? 22:26 – Is there potential for this model in the future? 24:31 – Sen. Rubio talks the impact of the PPP
DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
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