Congress Struggles to Pass Coronavirus Relief Package

Congress has passed a one-week continuing resolution that avoids a federal government shutdown and gives policymakers another week to negotiate a longer funding bill and find consensus on the details of a coronavirus relief package. Funding authority for the federal government will run out at midnight tonight, Friday, December 11, if the president does not …

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PIA Calls on Congress to Prevent Surprise Tax on PPP Loan Recipients

PIA National has issued an action alert urging Congress to prevent a surprise tax on Paycheck Protection Program (PPP) loan recipients. Included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act was a provision stating that any portion of a PPP loan that qualified for loan forgiveness “shall be excluded from gross income” for …

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Paycheck Protection Program Loan Recipients to be Disclosed

Today, December 1, the Small Business Administration (SBA) will reveal the identities of business owners who took coronavirus relief loans through the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program. The SBA opposed this disclosure, which will be made in response to an order issued by U.S. District Judge James Boasberg …

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SBA Simplifies Forgiveness Process for Some PPP Loans

On October 19, 2020, the U.S. Small Business Administration (SBA) and the Treasury Department issued interim final rules (IFR) revising the process for some businesses to seek Paycheck Protection Program (PPP) loan forgiveness and lender evaluation of loan forgiveness applications submitted in accordance with the new process. These IFR offer additional guidance to further simplify …

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PIA, Allies Call for Congressional Action on PPP Loan Forgiveness

PIA National, along with dozens of allies in the business community, sent a letter November 19 calling on congressional leaders to reform the Paycheck Protection Program (PPP) loan forgiveness process before the end of the year. The letter calls on Congress to pass the Paycheck Protection Program Small Business Forgiveness Act (S. 4117/H.R. 7777), championed …

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Member Spotlight: Kevin Cramer (R-ND)

Kevin Cramer was elected to the U.S. Senate from North Dakota in 2018. Previously, he served as North Dakota’s At-Large Member in the U.S. House. Prior to joining Congress, Sen. Cramer served as a commissioner on the North Dakota Public Service Commission. Sen. Cramer received a BA from Concordia College and a master’s degree in …

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Loan Forgiveness and the Paycheck Protection Program

Earlier this year, the U.S. Small Business Administration (SBA) issued an interim final rule (IFR) regarding the process for appealing SBA loan decisions under the Paycheck Protection Program (PPP). This IFR sets forth the process for a PPP borrower to appeal certain SBA loan review decisions made in connection with a PPP loan to the …

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Congress Recesses Without Passing New COVID Relief

Both the U.S. House and Senate are now in recess, which means Congress is increasingly unlikely to pass legislation before the November elections to provide additional relief to individuals or businesses suffering due to COVID-19. At the time of this writing, the House stands in recess until after the elections, and the Senate is in …

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PPP Loan Forgiveness Effort is Stymied in Senate

Throughout the summer, PIA National advocated for legislation to improve the Paycheck Protection Program (PPP) loan forgiveness process. In recent weeks, we have been working with a loose coalition of business groups to urge the passage of bipartisan legislation introduced by Senator Kevin Cramer (R-ND).  This afternoon, S. 4117, the Paycheck Protection Small Business Forgiveness Act, was brought to the …

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PIA Urges Congress to Streamline PPP Loan Forgiveness Process

PIA National, along with a broad coalition of business groups, has sent a letter to Congressional leadership to urge them to pass legislation that would improve the Paycheck Protection Program (PPP) loan forgiveness process.  With Congress in a stalemate on the passage of a larger COVID-19 relief package, PIA National has joined with a large alliance of business …

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