Mike Garcia Sides Against CA-25 Taxpayers and Small Businesses with Vote Against Bipartisan TRUTH Act
Press Release
While the Coronavirus outbreak continues to take a public health and economic toll on CA-25 families and small businesses, Mike Garcia voted against widely bipartisan legislation that would have increased transparency to the Small Business Administration's Paycheck Protection Program (PPP) that provides small businesses with crucial bridge funds to keep employees on payroll through these tumultuous economic times. Thirty-eight Republicans voted with Democrats on this commonsense bill, but not Mike Garcia.
"As the Covid-19 pandemic continues to take a toll both on the health and pocketbooks of CA-25 families, my opponent is voting against bipartisan efforts to bring much needed accountability and transparency measures to the Paycheck Protection Program that are aimed at ensuring these funds actually go to small businesses in need," said Christy Smith. "It is more important than ever that CA-25 families know they can rely on their elected leaders to act in their best interest, and their best interest alone. With this vote however, Mike Garcia has made it clear that only big corporations can count on him, not our community."
While the Payment Protection Program is intended to support small businesses, who require these funds to stay afloat, there have been high profile examples of large corporations receiving these funds. As the program has faced funding shortfalls in the past due to high demand from struggling small businesses, there is bipartisan consensus that the program needs more oversight and transparency to ensure funding is being allocated to where it is most needed.
Washington's newest politician, Mike Garcia, however, inexplicably voted against a bill that would have required the Small Business Administration to make key information publicly available, including every recipient of grants or loans, an explanation of the SBA's decision making in providing loans, the size of the business, and the amount of the loans provided to small businesses that are owned by women, veterans or economically disadvantaged people.
The bill required a 2/3 majority vote to pass. It received 269 votes, with unanimous support among House Democrats along with 38 votes from House Republicans. The bill fell just 9 votes shy of the required threshold.
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