The Paycheck Protection Program is one of the most successful government programs ever created. It distributed $800 billion of forgivable loans during the once-in-a-century pandemic to over six million small businesses, supporting 55 million jobs. The PPP was a lifeline for small businesses that government officials forcibly closed for two weeks, then two months, and then, in some areas, nearly two years. The PPP helped stave off a second Great Depression that many forecasters predicted and set the stage for the fastest economic recovery in history. It was historically responsive, distributing loans within three weeks of a national emergency declaration. Former Congressional Budget Of
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