Funding for the Paycheck Protection Program has run out and the program needs immediate replenishment funding from Congress to continue. AGA is working with our advocates and congressional champions to push this funding across the finish line.
Based on reports from lenders and administration officials, Paycheck Protection Program (PPP) funding ran out on April 16. We share policymakers’ frustration with the lack of adequate resources, as the original $350 billion was estimated to maintain the PPP for eight weeks, instead of roughly two weeks.
AGA and our advocates have participated in meetings with lawmakers on how to replenish the program. Here’s what we know:
- What was seen as a fast-track legislative effort to replenish the program, has been bogged down by differing Democrat and Republican approaches.
- Top Democrats put forth a $500 billion bill with $250 billion earmarked for the PPP and $250 billion to aid state and local governments.
- Republicans want to keep supplemental PPP funding separate from other legislative initiatives but support the additional $250 billion for the PPP.
- Negotiations are underway, and AGA continues to work with our coalitions and congressional champions to push for supplemental funding for this program and additional financial relief.
Here is a list of our advocacy efforts thus far on obtaining direct financial relief for you and your colleagues:
- April 15, 2020- Letter to congressional leadership urging them to preserve the vitality of physician practices in the next COVID-19 relief legislation.
- April 7, 2020- Letter to the Department of Health and Human Services (HHS) requesting one month of Medicare revenue for providers and immediate additional financial relief.
- March 31, 2020- Letter to HHS asking for physician practices and ambulatory surgical centers (ASCs) be eligible for relief through the Public Health and Social Services Emergency Fund.
- March 25, 2020- Letter to congressional leadership requesting the inclusion of support for physician practices in any economic stimulus package.
- March 24, 2020- Letter to congressional leadership asking for relief for independent physician offices.
- March 20, 2020- Letter to congressional leadership asking for increased funding for and access to personal protective equipment (PPE); softened prior authorization, telehealth reimbursement and Medicare reporting requirements; and financial safeguards for health care professionals and practices.