Bipartisan senators introduce bill to make changes to the Paycheck Protection Program | TheHill

Sens. Angus KingAngus KingBipartisan senators introduce bill to make changes to the Paycheck Protection Program Senators weigh traveling amid coronavirus ahead of Memorial Day McConnell gives two vulnerable senators a boost with vote on outdoor recreation bill MORE (I-Maine) and Steve DainesSteven (Steve) David DainesHouse to consider amendment blocking warrantless web browsing surveillance The Hill’s Campaign Report: Biden seeks to tamp down controversy over remarks about black support OVERNIGHT ENERGY: Coal company sues EPA over power plant pollution regulation | Automakers fight effort to freeze fuel efficiency standards | EPA watchdog may probe agency’s response to California water issues MORE (R-Mont.) introduced legislation to extend the time businesses have to use funds from the Paycheck Protection Program (PPP) and eliminate the limit on using funds for non-payroll expenses.

The Paycheck Protection Program Flexibility Act, introduced on Thursday, would allow businesses to extend the period, which is currently eight weeks, to 24 weeks. Treasury Secretary Steven MnuchinSteven Terner MnuchinSenate Republicans call on DOJ to investigate Planned Parenthood loans The Hill’s Coronavirus Report: Surgeon General stresses need to invest much more in public health infrastructure, during and after COVID-19; Fauci hopeful vaccine could be deployed in December Republicans push for help for renewable energy, fossil fuel industries MORE said Monday that the administration is working on expanding this period but didn’t commit to 24 weeks. 

The bill would also eliminate restrictions in the PPP that only 25 percent of the loan can go to non-payroll expenses and restrictions that limit loan terms to two years.

The U.S. Chamber of Commerce, International Franchise Association, American Hotel and Lodging Association, National Restaurant Association, and National Retail Association, among other groups, have voiced their support for the companion bill in the House, which was introduced by Reps. Dean PhillipsDean PhillipsBipartisan senators introduce bill to make changes to the Paycheck Protection Program The Memo: Activists press Biden on VP choice Biden asks Klobuchar to undergo vetting as potential running mate MORE (D-Minn.) and Chip RoyCharles (Chip) Eugene RoyBipartisan senators introduce bill to make changes to the Paycheck Protection Program Pelosi formally authorizes remote voting for 45-day period The Hill’s Campaign Report: Biden leads Trump by 6 points in new poll MORE (R-Texas). 

The organizations sent a letter to House leadership on Thursday urging the lower chamber to swiftly consider and pass it. 

Sens. Tim KaineTimothy (Tim) Michael KaineBipartisan senators introduce bill to make changes to the Paycheck Protection Program Overnight Defense: National Guard chief negative in third coronavirus test | Pentagon IG probing Navy’s coronavirus response | Democrats blast use of Russia deterrence funds on border wall Overnight Defense: Navy secretary nominee: Service in ‘rough waters’ after ‘failure of leadership’| Senate fails to override Trump’s Iran war powers veto| Top Armed Services Republican expects to address Pentagon border wall funds in defense policy bill MORE (D-Va.), Thom TillisThomas (Thom) Roland TillisHillicon Valley: Lawmakers demand answers on Chinese COVID hacks | Biden re-ups criticism of Amazon | House Dem bill seeks to limit microtargeting Lawmakers ask for briefings on Chinese targeting of coronavirus research Republicans push for help for renewable energy, fossil fuel industries MORE (R-N.C.), Debbie StabenowDeborah (Debbie) Ann StabenowBipartisan senators introduce bill to make changes to the Paycheck Protection Program Democrats press USDA on worker safety at meat processing plants Michigan Republican Senate candidate notes places ‘I disagree with’ Trump MORE (D-Mich.) and Cory GardnerCory Scott GardnerThe Hill’s Campaign Report: Biden seeks to tamp down controversy over remarks about black support OVERNIGHT ENERGY: Coal company sues EPA over power plant pollution regulation | Automakers fight effort to freeze fuel efficiency standards | EPA watchdog may probe agency’s response to California water issues Bipartisan senators introduce bill to make changes to the Paycheck Protection Program MORE (R-Colo.) are original co-sponsors of the Senate bill.

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