Bipartisan bill would extend the period to use funds by 16 weeks.
New legislation has been presented by Senators Angus King, and Steve Daines to allow businesses to have more time to utilize funds from the Paycheck Protection Program (PPP). Called the Paycheck Protection Program Flexibility Act, the bill would also remove limits on funding for non-payroll expenses.
According to Treasury Secretary Mnuchin, there is a need for Congress to extend PPP for more than the original eight weeks but didn’t commit to 24 weeks. The bipartisan bill has also garnered the support of the U.S. Chamber of Commerce, International Franchise Association, American Hotel and Lodging Association, and other business interest groups.
As the Lord Leads, Pray with Us…
- For God to lead the Senate on the best way to vote on this and future bills.
- That Congress would pass meaningful legislation to help the nation recover from the pandemic.
- That the White House and Congress would participate with one another to assist Americans.
Sources: The Hill, Politico
