STATEMENT FROM GREATER BINGHAMTON CHAMBER ON U.S. SENATE RECESS
We are extremely disappointed to see the U.S. Senate go on recess and stop deliberating on issues that are time sensitive and will have a substantial impact to our community.
State and local governments, small businesses and families are facing a financial cliff and believed that the process would not fail them.
During this recess, we will see small businesses close because of the lack of additional stimulus through an extended Payroll Protection Program. JP Morgan Chase estimates that the PPP program saved more than 30 million jobs in the U.S. An opportunity to save millions more has been missed.
I encourage the small business community in Broome County to continue to work with local resources including the Agency’s Broome County Emergency Loan Fund and the NY Forward loan program, as well as emergency loan resources in the City of Binghamton and the Town of Union.
Small business has always been the engine driving the U.S. economy. It is unfortunate that the Senate continues to stall.