Sen. Lankford Answers Questions Regarding Business Issues In Oklahoma

Monday, April 27th 2020, 8:36 pm
By: Jonathan Cooper

Oklahoma Senator James Lankford spoke on a wide range of topics on Monday and answered several questions about issues facing business leaders in Green Country.

The Paycheck Protection Program was extended this morning, but the website froze up because of traffic.

Lankford said it's frustrating because a few weeks ago he encouraged the SBA to keep their system open to avoid the rush, but he assures people it will get back to normal.

He anticipates the funding will last about 10 days, but nobody knows for sure

He also mentioned other federal resources available for businesses like the economic injury disaster loan program, which Congress approved an additional $60 billion for, the main street lending program and a tax incentive if your business maintains payroll.

Lankford said Congress will look at another relief package to make sure they didn't miss anything, but he also wants to make sure the government can pay these loans back.

"There is a limited amount that you can do like that,” said Lankford. “We did 2 and a half trillion dollars in 30 days. That's an enormous amount of money to be able to put out there in additional debt. We are trying to be attentive to that, to say at the end of this, we've got to be able to pay for things."

Lankford will head back to DC on May 4th when the Senate meets again.