April 21, 2020

Dear Member:

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.

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

 

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