April 21, 2020
On April 21st, Congressional leaders and the White House reached a deal to replenish the various loan programs under the Small Business Administration (SBA).
As a summary, the Paycheck Protection Program Increase Act of 2020 (PPIA) would add:
- $310 billion to the Paycheck Protection Program (PPP);
- $75 billion in assistance for hospitals; and
- $25 billion to expand testing for the Coronavirus across the country.
As a next step, the Senate will try to pass the legislation by consent at 4:00 pm on Tuesday, April 21st, during a pro forma session. President Trump has indicated that he approves the deal and will sign it into law.
- Click here for the full bill
- Click here for a section-by-section summary
- Click here for a summary of hospital and testing financial relief
This member exclusive update has been provided in consultation with our Washington, DC-based government affairs and global business advisory firm, The Vogel Group – www.vogelgroupdc.com