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House to Take up Paycheck Protection Program Extension Bill This Week
May 27, 2020 by Ashley Jackson
With the House in session this week and the Senate out of session following Memorial Day, the House is scheduled to consider two bills related to coronavirus aid. First, the House is set to consider a standalone bill that would provide an extension to loan forgiveness under the Paycheck Protection Program (PPP). Specifically, the bill would give businesses more time and flexibility to make qualifying expenditures for loan forgiveness under the PPP and allow businesses with forgiven loans to defer payroll taxes.

A second measure (H.R. 6782) would require the Small Business Administration to issue a report on entities that received more than $2 million in small business aid under the CARES Act and the measure that replenished the PPP.

Congressional leadership has indicated optimism in getting a deal done this week.
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