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Issues

Trump Administration Sued Over Auto Emissions Rollback Rule

May 28, 2020 |

Today, California and 22 other states and jurisdictions sued the Trump Administration over the U.S. Environmental Protection Agency (EPA) and the National Highway Safety Traffic Administration (NHTSA) final rule, The Safer Affordable Fuel-Efficient (SAFE) Vehicles Rule for Model Years 2021-2026 Passenger Cars and Light Trucks. Per California Attorney General Xavier Beccera, “The Clean Car Standards require…

SBA and Treasury Release Paycheck Protection Program Loan Forgiveness Application

May 26, 2020 |

Per the U.S. Small Business Administration: The Small Business Administration (SBA), in consultation with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application. The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief,…

Additional Guidance on the PPP Loan Forgiveness Program

May 26, 2020 |

The U.S. Small Business Administration in conjunction with the U.S. Department of Treasury released new guidance regarding the Paycheck Protection Program (PPP). The interim rules can be found here: Interim Final Rule on Loan Forgiveness (Released May 22, 2020) Interim Final Rule on Loan Review Procedures and Related Borrower Responsibilities (Released May 22, 2020)

U.S. House Considers PPP Reform Stand-alone Bill

May 22, 2020 |

Congressman Chip Roy (R-TX), along with Congressman Dean Phillips (D-MN), Congressman Tom Emmer (R-MN), and Congressman Fred Upton (R-MI)  introduced H.R. 6886, the Paycheck Protection Flexibility Act. The bipartisan bill will make necessary changes to the Paycheck Protection Program (PPP) as business owners nationwide have expressed concerns with the program. Congressman Roy stated, “Unfortunately, for…

U.S. House Subcommittee Holds Hearing on the Oversight of the Federal Trade Commission

May 22, 2020 |

On May 8, 2019, the Chairman and four Commissioners from the Federal Trade Commission testified in front the Subcommittee on Consumer Protection and Commerce in a hearing entitled, “Oversight of the FTC: Strengthening Protections for Americans’ Privacy and Data Security.” The FTC’s mission is to protect consumers from unfair or deceptive practices, however, as Chairman…

U.S. House May Consider PPP Reform Stand-alone Bill

May 20, 2020 |

Congressman Dean Phillips (D-MN) and Congressman Chip Roy (R-TX) introduced H.R. 6886, the Paycheck Protection Flexibility Act. The bipartisan bill will make necessary changes to the Paycheck Protection Program (PPP) as business owners nationwide have expressed concerns with the program. The legislation will: Allow forgiveness for expenses beyond the 8-week covered period. Eliminate restrictions limiting…

DOL Announces Final Rule to Expand Access to Bonuses for Workers

May 20, 2020 |

The U.S. Department of Labor (DOL) held a background briefing regarding a final rule that allows employers to offer bonuses or other incentive-based pay to employees whose hours vary from week to week. Per the DOL, the final rule clarifies that payments in addition to the fixed salary are compatible with the use of the…

U.S. Senate Committee Holds Remote Hearing on CARES Act

May 19, 2020 |

  U.S. Senate Committee on Banking, Housing, and Urban Affairs convened a remote hearing today entitled “The Quarterly CARES Act Report to Congress.” In his opening statement U.S. Department of Treasury Secretary Steven Mnuchin stated that the Department has “worked closely with the[U.S.] Small Business Administration [SBA] on the Paycheck Protection Program (PPP) to ensure…

Department of Treasury and SBA Release Loan Forgiveness Application

May 18, 2020 |

The U.S. Small Business Administration is working in conjunction with the U.S. Department of Treasury on the implementation of the Paycheck Protection Program (PPP). The PPP was established under H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, in response to the ongoing COVID-19 pandemic. The SBA and Department of Treasury are continuously…

SBA PPP Repayment Deadline May 18

May 18, 2020 |

In a interim rule, the U.S. Small Business Administration (SBA) provided that any borrower who applied for a PPP loan and repays the loan in full by May 14, 2020 will be deemed by SBA to have made the required certification concerning the necessity of the loan request in good faith. A FAQ Sheet produced…

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