On January 5, Georgia voters participated in two runoff elections to choose their Senators for the 117th Congress. Each state’s Senate seats are classed so that voters typically only elect one of their two Senators in a single election cycle. However, in November 2020, both of Georgia’s Senators, Republicans David Perdue and Kelly Loeffler were …
Tag: Senate
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 …
Senate Approves Bill that Includes NFIP Extension Until Sept. 2021
This evening, the U.S. Senate voted to pass a continuing resolution (CR) to fund the federal government through December 11, 2020 by a vote of 84-10. This follows action from the House, which cleared the measure on September 22. In a key win for PIA members, the bill includes an extension of the National Flood Insurance Program (NFIP) until next year, …
Continue reading Senate Approves Bill that Includes NFIP Extension Until Sept. 2021
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 …
Continue reading PPP Loan Forgiveness Effort is Stymied in Senate
Senate Passes Paycheck Protection Program Deadline Extension
On June 30, a few hours before the Paycheck Protection Program (PPP) expired, the U.S. Senate passed by unanimous consent a bill to extend the deadline for businesses to apply for coronavirus PPP aid until August 8th. The program’s authorization to give out money ended June 30 with over $130 billion left unused. The U.S. …
Continue reading Senate Passes Paycheck Protection Program Deadline Extension
Senate Passes Paycheck Protection Flexibility Bill
On June 3, the U.S. Senate passed H.R. 7010, the Paycheck Protection Program Flexibility Act, by unanimous consent. The bill extends the window for businesses to be able to spend the funds loaned under the program. The House passed this bill on May 28th, and the president is expected to sign it into law. The …
Continue reading Senate Passes Paycheck Protection Flexibility Bill
IRS Says Small Business Loans Are Taxable Income
Last week, the Internal Revenue Service (IRS) issued Notice 2020-32, which announced that business expenses that are normally tax deductible but are expected to be forgiven as part of loans provided in accordance with the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), a part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, …
Continue reading IRS Says Small Business Loans Are Taxable Income
Senate Passes More Funding for CARES Act Small Business Programs
Today, by voice vote, the U.S. Senate passed legislation to provide over $300 billion more for the Paycheck Protection Program (PPP), which was created by the CARES Act. Last week, PIA National worked with a broad cross-section of business and insurance groups to send a letter to Congressional leadership requesting more funding for the PPP, …
Continue reading Senate Passes More Funding for CARES Act Small Business Programs
Senators Caution Against Retroactive Business Interruption
As part of PIA National’s advocacy work on legislation related to the coronavirus, we have worked with a group of senators on a letter that was sent to the White House today, asking the administration to reject any proposal in upcoming coronavirus legislation that would undermine existing insurance practices, namely the retroactive finding of business …
Continue reading Senators Caution Against Retroactive Business Interruption
COVID-19 Emergency Relief Package Passes Senate
Late on March 25, the U.S. Senate passed H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, by a vote of 96-0. This bill is the third COVID-19-related bill that Congress has passed, and others are likely to follow. The Senate unanimously approved the $2 trillion emergency package, which is intended to provide urgently …
Continue reading COVID-19 Emergency Relief Package Passes Senate
