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ARTICLE · 08 JUNE 2020

COVID-19 Policy Update - May 22, 2020

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Bipartisan leaders of the Senate Small Business Committee yesterday reached agreement on legislation to double the period of time in which small businesses can...

United StatesCoronavirus (COVID-19)
G. Hunter Bates
G. Hunter Bates
Brian A. Pomper
Brian A. Pomper
James Tucker Jr.
James Tucker Jr.
M. Todd Tuten
M. Todd Tuten
Hans Rickhoff
Hans Rickhoff
Josh Teitelbaum
Josh Teitelbaum
Taylor Daly
Taylor Daly
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Leaders of Small Business Committee Reach Consensus on Bill to Extend PPP Loan Deadline, Senate Fails to Clear Measure by Unanimous Consent as Phase 4 Negotiations Likely to Dominate June

Bipartisan leaders of the Senate Small Business Committee yesterday reached agreement on legislation to double the period of time in which small businesses can use Paycheck Protection Program (PPP) loans from eight weeks to 16 weeks. The measure, dubbed the Paycheck Protection Program Extension Act, would also extend the deadline for applying for the loans until December 31. Sen. Marco Rubio (R-FL), Chairman of the Small Business Committee, pushed for the Senate to pass the legislation by unanimous consent on Thursday before the chamber left for the Memorial Day recess. However, under this approach, the request is rejected if any one senator objects, and the chamber was ultimately unable to reach consensus before adjourning.

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