Every year, Chuck commits to traveling to all62 counties in New York to meet with constituents.
On July 13, 2020 standing at The Pier in Central Square and on the heels of a successful five-week, short-term extension for the original Paycheck Protection Program (PPP), U.S. Senator Charles E. Schumer unveiled the Prioritized Paycheck Protection Program Act, or ‘P4’, which seeks to provide additional relief for New York’s smallest businesses that have been severely impacted by the economic effects of the COVID-19 pandemic. Schumer explained that his proposed legislation would provide much-needed relief to Central New York small business owners by extending the PPP loan period to the end of the year and providing the option for a second PPP loan for eligible small businesses that are in need of additional assistance to survive. Specifically, ‘P4’ second loans will allow for businesses to access funds worth 250 percent of monthly payroll costs, up to a maximum of $2 million. Small businesses and nonprofits with fewer than 100 employees, sole proprietors, independent contractors, self-employed borrowers, and rural and historically underserved communities will be eligible for this second round of assistance, in an effort to get critical federal aid to the most in-need businesses that have lost 50% or more of revenues due to the pandemic. These second PPP loans would be fully forgivable similar to the first PPP loans as long as all requirements are met in the use of funds.