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May 19, 2020

Inhofe Praises Trump Admin for Affirming Rural Electric Co-ops Eligibility for PPP

U.S. Sen. Jim Inhofe (R-Okla.) praised the U.S. Treasury Department’s guidance clarifying that rural electric cooperatives with less than 500 employees are eligible for the Paycheck Protection Program (PPP).

“As we continue to battle COVID-19, we know the Paycheck Protection Program is saving jobs and keeping businesses open in Oklahoma. Rural electric cooperatives deliver an essential service – providing power and keeping the lights on for families and businesses in rural America. Despite interruptions COVID-19 is placing on their operations, they have continued to provide these services and they deserve access to this job-saving program,” Inhofe said. “That’s why I was glad to hear that the Trump Administration has clarified that rural electric co-ops are eligible for the Paycheck Protection Program. It is clear that this administration continues to prioritize the needs of rural communities, and I look forward to working with them to support all communities across Oklahoma.”

In April, Inhofe joined a bipartisan group of Senators in urging U.S. Treasury Secretary Steven Mnuchin and U.S. Small Business Administrator Jovita Carranza to ensure that rural electric cooperatives, as private corporate business concerns operating on a cooperative basis, be considered eligible recipients under the Paycheck Protection Program.

“Electric cooperatives face immediate, significant and growing economic impacts from the coronavirus pandemic,” said Jim Matheson, CEO at the National Rural Electric Cooperative Association. “This clarification is vital for electric cooperatives that are looking to the Paycheck Protection Program for support as they work to keep the lights on and provide local families and businesses with certainty in an uncertain time. We thank Senator Inhofe and many of his colleagues for their instrumental role in securing this needed clarity.”

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