Issues
A bipartisan group of U.S. Senators sent a letter to Republican Leader Mitch McConnell (R-KY), Minority Leader Chuck Schumer (D-NY) , Senator Marco Rubio (R-FL), and Senator Ben Cardin (D-MD), urging consideration of 501(c)(6) organizations to be eligible for the Paycheck Protection Program (PPP). The PPP, established under the Coronavirus Aid, Relief, and Economic Security…
President Trump signed H.R. 266, the Paycheck Protection Program and Healthcare Enhancement Act, into law. The $484 billion relief bill includes funding for the Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL) Program, hospitals, and testing. The $350 billion PPP established under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, ran out of…
Today, President Trump signed into law H.R. 266, the Paycheck Protection Program and Healthcare Enhancement Act. The bill provides an additional $321 billion for the Paycheck Protection Program (PPP). The U.S. Small Business Administration (SBA) and U.S. Department of Treasury have been working together to provide guidance on the roll out of the program. SBA…
The Trump Administration continues to update and provide additional information and resources with regard to the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The Administration has produced an updated Paycheck Protection Program FAQ Sheet: The Small Business Administration (SBA), in consultation with the Department of the Treasury, intends to provide timely additional guidance to…
This morning, the U.S. House of Representatives Committee on Small Business convened for a hearing titled, “Member Day Hearing on COVID-19 Response and Recovery: Committee on Small Business.” Members of Congress testified before the committee on their feedback, concerns, and priorities regarding the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) Program, both established…
The COVID19 global pandemic has impacted Americans lives in every way, as the country begins to grow accustomed to a new normal. Axios held a virtual panel, “Helping Small Businesses Weather the Coronavirus Storm,” focusing on the economic impact of COVID19 on small businesses. Speakers on the panel included small business owners, financial technology (fintech) companies,…
The U.S. House of Representatives passed H.R. 266, the Paycheck Protection Program and Healthcare Enhancement Act. The bill provides additional funding for the Paycheck Protection Program (PPP), the Economic Injury Disaster Loan (EIDL) Program, hospitals, and testing. The bill passed the U.S. Senate Tuesday afternoon. To view the bill, click here.
The Paycheck Protection Program was established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The program is implemented by the Small Business Administration with support from the Department of the Treasury. This program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits, interest on mortgages, rent, and utilities.…
The U.S. Department of Labor (DOL) announced that paid leave protections will now be enforced. There was a temporary non-enforcement period of paid leave protections to allow employers and American workers covered by the new law, established under the Families First Coronavirus Response Act (FFCRA), to come into compliance. To read the press release from the…
The U.S. Senate passed an interim Coronavirus emergency package by voice vote. The package includes additional funding for the Paycheck Protection Program (PPP), Economic Injury Disaster Loans (EIDLs), hospitals, and testing. The bipartisan agreement comes days after negotiations and a week after the PPP ran out of its initial funding. Republican Leader Mitch McConnell stated,…