Sunday, November 29, 2020

House approves Paycheck Protection Program extension

Earlier this afternoon, the U.S. House approved the previously passed Senate measure to extend the Paycheck Protection Program through Aug. 8.

The extension, which was approved in both the Senate and House by unanimous consent, also decouples PPP authorization from the 7(a) program, eliminating the risk that the regular 7(a) program could shut down when the PPP hits its authorization cap.

The measure will still have to signed by President Trump before officially going into action, although it is expected soon.