“Everybody agrees this crisis has evolved,” Senator Marco Rubio said Wednesday.
TOPLINESenator Marco Rubio told Fox News on Wednesday that he believes there is enough support in Congress to extend the eight-week period that Paycheck Protection Program loan recipients have to use the money—this would be a big deal for businesses that may otherwise fail to bounce back before the existing forgiveness period is up.
Sen. Marco Rubio (R-FL) talks to reporters as he leaves a briefing for Senators by officials from... [+]the Department of Homeland Security, Federal Bureau of Investigations, Director of National Intelligence, and the National Security Agency.Getty Images
KEY FACTS“Democrats have told me they agree on extending the time frame,” Rubio said, indicating that there is “unanimity” in Washington for revising the law; the SBA began accepting applications for PPP loans onApril 3, meaning that businesses who received their money quickly are coming up on the end of their forgiveness period sometime in early June.
He indicated that the spending period should be extended to 12 or 16 weeks because of how the coronavirus crisis has evolved. Rubio said he hopes that Congress can pass a “clean bill”—one with only this provision included to avoid any snags in the House or the Senate.
Last week, Rep. Dean Phillips (D-Minn.) and Rep. Chip Roy (R-Texas) introduced a bill that would extend the forgiveness period to include the full duration of the crisis, along with several other changes to the PPP; Rep. Phillips indicated that heexpects
the House to vote on that bill before the end of the month.The $3 trillion Heroes Act, passed by Democrats in the House last week, also includes provisions that would modify the PPP but Senate Republicans have said they will reject the bill in its current form.
President Trump said Monday that heextending the loan forgiveness period to 24 weeks, and Treasury Secretary Steven Mnuchin has said the administration is working on a “technical fix,”The Hill, though he did not commit to the 24 week change.Big number
As of May 16, more than 4.3 million PPP loans worth over $513 billion had been distributed. Key backgroundThe Paycheck Protection Program was included in the $2.2 trillion CARES Act, the historic economic stimulus package passed by Congress at the end of March. It was intended as a lifeline for small businesses struggling in the wake of the coronavirus crisis, and offered forgivable loans to cover two months worth of payroll and overhead costs. The program got off to a rocky start, with a rushed launch and computer glitches. After an initial $350 billion allotted to the PPP ran dry in just two weeks, lawmakers scrambled to replenish the program with another $310 billion.Read more: Forbes »
Why This PPP Loan Data Might Actually Be Good News For Small BusinessThe Paycheck Protection Program or PPP is finally getting loans to the small businesses and self-employed individuals who need it the most. However, it is fintech firms who are now leading the charge in helping small business during the Covid-19 crisis. I'm interesting In this
Breaking News, Top News & Latest News Headlines | ReutersSee our fact-checking initiative aimed at identifying misinformation in partnership with Facebook Start with Trump. You can't combat misinformation when you are the misinformation. Every fact checking outfit I have seen finds any way they can to justify democrat lies and calls Republican truth lies on minor technicalities. Don’t kid yourselves. You’ll do the same.
John Krasinski's 'Some Good News' goes on hiatusThe last episode before the break was all about the community that sprang up around the actor and director's YouTube series, which has been popular during quarantine. 😭😭😭😭😭 SGN $HOW MUST GO ON ? MIX of gender between political & financial-THEFT of public moneytax evasion-DESTRUCTION of ecosystemspublic servicesschools-social VIOLENCE family violence-PROPAGANDAmedia-PARODY of democracy-POLICE repression..SLAUGHTERHOUSE EVERYTHING MUST BE RETHOUGHT
John Krasinski's 'Some Good News' Finale Episode Delivered Major FeelsThe finale of John Krasinski's heartwarming YouTube series 'Some Good News' just aired, and it was as touching as the entire season has been. johnkrasinski I love him
Misty-eyed John Krasinski bids farewell to 'Some Good News' with emotional finale'I will never be able to properly articulate just how much this show has meant to me,' John Krasinski said in the series finale of 'Some Good News.' A wonderful show GadiNBC I he is a good man.
Some good news about a vaccine test (though it's still early)Here's some good news! Early human trials of a coronavirus vaccine have shown promise, according to Moderna, the company that has partnered with the National Institutes of Health to develop and test the vaccine. Big warning to all who believe vaccine is the answer!.. CNN is the devil’s advocate 💉💉💉💉💉💉 wake up people!.. google glyphosate shutdowncnn EnemyOfThePeople Ain't happening asshats. There were 8 people in this study. 8. Why not mention that?