Senate Approves Extending Small-Business Program

https://www.nytimes.com/2020/06/30/us/politics/ppp-extension.html?fbclid=IwAR2-VMRiZpmiQYggMAfaeVteN7jucHczrX8MBJ2ZMPrE5f6_6uSIVto5gfQ

By Emily Cochrane
June 30, 2020


The Senate voted Tuesday evening to extend a federal loan program by five additional weeks, a surprise move that would allow small businesses weathering the pandemic to continue receiving aid.

Less than four hours before the Paycheck Protection Program was scheduled to end with more than $130 billion in loan money unspent, the Senate approved extending the application period until Aug. 8.

The legislation now heads to the House, which had finished voting before the bill cleared the Senate, and will require President Trump’s signature for the program to continue. Members of both chambers are expected to leave Washington for the Fourth of July and are not set to fully return for two weeks.

•••••