A bipartisan bill passed the House of Representatives today intended to loosen the compliance requirements on Paycheck Protection Program (PPP) loans. The bill will affect hundreds of billions of dollars in small-business loans made under the PPP and is in response to concerns from employers struggling to stay open during the COVID-19 pandemic. The House legislation is strongly supported by various business groups including NSA who have pushed Congress for changes to the existing program, seeking more time for businesses to have the loans forgiven and paid off by the U.S. government.
NSA encourages our members to remain alert for future changes to the PPP and in other areas potentially affecting your clients over the coming days and weeks. There will likely be changes in a variety of areas during this time and NSA will continue to provide information as we can on this and other issues in Washington that impact our members and your clients.
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