facebook linkedin twitter

Plan Afoot to Extend PPP Deadline to May 31

Borrelli's Italian Restaurant in Uniondale, N.Y. (Photo by Dan McCue)

WASHINGTON – A bipartisan bill to extend the Paycheck Protection Program to May 31 is gaining support in the House and the Senate and will likely be voted on before lawmakers head back to their districts at the end of the month.

The proposal to extend the small-business relief program was made by House Small Business Chair Nydia Velazquez, D-N.Y., and Blaine Luetkemeyer, R- Mo. A companion bill has been introduced in the senate by Sens. Susan Collins, R-Maine, and Jeanne Shaheen, D-N.H.

Without the bill or a similar measure, the program would end March 31. The House is expected to vote on the bill this week before members leave, not returning until mid-April.

“The demand for PPP loans right now is a testament to the program’s effectiveness and the lingering impacts of this pandemic. That’s why we cannot cut off aid now and this short-term extension is so important,” Velázquez said in a statement. “The bill will go a long way in helping small businesses provide for their employees and keep our economic recovery moving.”

Under the PPP Extension Act, small businesses will have two additional months to submit an application for a PPP loan, and the Small Business Administration will have until June 30 to close pending applications.

In The News

October 21, 2021
by Tom Ramstack
Wind Generators Faces Support and Skeptics as Government Seeks Renewable Energy

WASHINGTON -- The wind drove federal lawmakers Thursday to consider whether offshore turbines should become a major new source of... Read More

WASHINGTON -- The wind drove federal lawmakers Thursday to consider whether offshore turbines should become a major new source of electricity for American consumers. As environmentalists tried to convince a congressional panel that wind energy is a cost-effective investment, detractors said hidden expenses mean it’s not... Read More

October 21, 2021
by Tom Ramstack
FBI Raids DC Home of Russian Oligarch Allegedly Linked to 2016 Influence-Peddling

WASHINGTON -- An FBI search of the Washington, D.C. home of a Russian oligarch this week is moving the Justice... Read More

WASHINGTON -- An FBI search of the Washington, D.C. home of a Russian oligarch this week is moving the Justice Department into the political minefield that comes from mixing foreign policy with legal enforcement. The FBI conducted what it called "law enforcement activity" at the home... Read More

October 21, 2021
by Reece Nations
FCC Announces $554 Million Broadband Opportunity Fund Program

WASHINGTON — The Federal Communications Commission announced on Wednesday it is set to approve a total of $554,150,641 for the... Read More

WASHINGTON — The Federal Communications Commission announced on Wednesday it is set to approve a total of $554,150,641 for the third round of funding in deployments of the Rural Digital Opportunity Fund. The FCC previously announced over $1 billion in funding to winning bidders for new... Read More

October 21, 2021
by Reece Nations
Fourth Special Session Brews as Texas Lieutenant Governor, GOP Chairman Press Abbott

AUSTIN, Texas — Texas Lt. Gov. Dan Patrick was joined by Matt Rinaldi, chairman of the Republican Party of Texas,... Read More

AUSTIN, Texas — Texas Lt. Gov. Dan Patrick was joined by Matt Rinaldi, chairman of the Republican Party of Texas, on Wednesday in calling for yet another special legislative session to pass more conservative agenda items. The calls for a new special session come after Texas’... Read More

October 21, 2021
by Dan McCue
Budget Hawk Urges Congress to Reject ‘Extenders’ to Get Reconciliation Deal

WASHINGTON - With Congressional Democrats reportedly within days of an agreement on a slimmed down reconciliation spending package, a well... Read More

WASHINGTON - With Congressional Democrats reportedly within days of an agreement on a slimmed down reconciliation spending package, a well known independent budget hawk is urging them not to resort to “blatant budget gimmicks” to move the initiative toward passage. Specifically, Maya MacGuineas, president of the... Read More

October 21, 2021
by Dan McCue
Schumer Vows to Quickly Advance Next Voting Rights Bill to Senate Floor

WASHINGTON –  Less than 24 hours after Senate Republicans blocked debate on the Freedom to Vote Act, Majority Leader Chuck... Read More

WASHINGTON –  Less than 24 hours after Senate Republicans blocked debate on the Freedom to Vote Act, Majority Leader Chuck Schumer, D-N.Y., said he’ll advance another voting rights bill to the floor of the chamber as early as next week. However, he did not say whether... Read More

News From The Well
scroll top